John Lewis is to introduce an interest-bearing credit offer on furniture sales while considering introducing buy-now-pay-later across the board.
The chain is to introduce credit at 16.9% on online electrical purchases in the autumn, before rolling that out to furniture and in-store purchases.
Separately BNPL could be introduced. Nish Kankiwala, John Lewis Partnership chief executive says younger shoppers expect it.
Many interiors retailers have moved to offer BNPL, typically spreading the cost of purchases across three months.
‘I think we will develop a buy-now-pay-later product. Especially in the younger generation, people expect it,’ says Kankiwala.
