BOZEMAN, Mont., Dec. 3, 2021 /PRNewswire/ -- 2021, what a year. From personal to professional outcomes, 2021 + COVID have had significant, lasting, and in some cases, devasting effects on us all. Professionally, we've had to pivot to remote work. We've moved from water cooler conversation, to Slack and Teams. Meetings aren't in person anymore, now we're on Zoom and becoming experts at staging video backgrounds. Given all the challenges with supply chain, pandemic shopping, health and employee challenges, businesses have been dealt a rough hand. Despite all of the added complexities to daily life, there are a few industries that, frankly, have not only thrived, but excelled during the pandemic days and the time following.
Buy now, pay later. New phrase, old concept. We all know Affirm and Afterpay, the "A" team if you will, driving a small pack of dynamic players (some more dynamic than others, but we'll get to that). Popularized by apparel and fashion heavy "Insta-worthy" culture if you will. Oh, and fitness products, like Peloton (accounting for 31% of Affirms annual contracts historically). Then came the B brands, like Quadpay, now Zip. These guys came out with a similar to Afterpay product, but pretty neat extension. Quickly acquired, and now settled into a mid-range player in the pack. And then, Credova, emerging on the scene in quite a unique way.
Credova has a different focus. Outdoor recreation, outdoor lifestyle financing, that includes everything from hunting to farm/ranch life products. Think, well actually, think their tagline, "Think Adventure". Interestingly, data from The Civic Science report shows 15% of Americans plan to hike more than usual due to COVID-19. Hiking, hunting, fishing, and camping are all activities that have seen a significant lift because of lockdown era.
In October 2021, Credova launched a rebrand and a full focus pivot to their niche, unveiling the tagline, "Think Adventure" among other site updates, including a new shopping feature on-site. The week following their brand refresh launch, they experienced an incredible thing. "We had on-site application views increase, and web traffic lift 16.73% in the weeks following launch," says Dusty Wunderlich, CEO of Credova. "This just goes to show, given the increasing demand of bnpl payment options, there is plenty of space left for our outdoor lifestyle/recreation focus to flourish," continues Wunderlich.
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