Bringing its affinity for cryptocurrency to the public domain, Pacsun Sunwear of California, LLC, said that it realized that its customers are very tech-oriented, and gravitate towards cryptocurrency. Pacsun was founded in 1982. It has joined the crypto payments bandwagon in keeping with the times, partnering with Bitpay.Bitcoin(BTC), bitcoin cash (BCH), wrapped Bitcoin (WBTC), dogecoin (DOgE), Litecoin (LTC), and Ethereum. PacSun has announced that stablecoins pegged to the U.S.dollar will also be accepted as payment.
Announcing that this move will enable an easy checkout process, Brie Olson, the President of Pacsun, said that they were happy to be the trailblazers in accepting crypto payment and hoped that others will soon follow suit.
Why Cryptocurrency for payments?
Stephen Pair, the CEO and co-founder of Bitpay, said that Pacsun shares a common goal of making crypto a part of everyone’s life. The young generation wants to pay for its services through cryptocurrency, Bitpay has understood this need. Michael Relich, the co-CEO of Pacsun, said that GenZ, one of its core consumers, is “very tech-oriented.” He added that the company spends a lot of time and resources in aligning themselves with the consumers’ lifestyle trends. This led to the decision to allow Bitpay as an added payment option, making it clear to the consumers that Pacsun listens and caters to their needs.
Fashion trends are important, but so are lifestyle trends. The company understood this when they partnered with the ROBLOX metaverse while launching their new line of products, Pacsun Kids. Digital sales volume has increased tremendously. Therefore, enhancing the online shopping experience has become a necessity for all brands. The fashion and retail industry has indeed made a momentous first leap by accepting crypto payments. It remains to be seen if the rest of the industries take to their example.