Executive Briefing

Can a ‘save now, buy later’ service possibly work?

Also: What’s up with Peloton?

Accrue Savings
Accrue Savings / Screenshot

I’m intrigued by a new startup that’s flipping the “buy now, pay later” idea around: Accrue Savings has just launched a “save now, buy later” service for e-commerce, starting with brands and shops like Casper, Allbirds, and Camp.

The idea is that you can pick a product you’d like to buy from one of their partner merchants, quickly open a no-fee digital savings account, and save money toward eventually buying the product. You can add money to the account over time, solicit contributions from friends and family, and then purchase the product, debt-free, with a virtual debit card.

What’s interesting is that Accrue’s partner brands have agreed to subsidize “bonuses” as part of the process: Casper, for example, is offering up to $454 in bonuses toward the purchase of a $2,700 queen-sized Wave Hybrid mattress. (That’s around 15% off.) These bonuses kick in at various points in the process, such as when you connect your bank account, reach certain savings milestones, or when others contribute to your account.

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Dan Frommer

Hi, I’m Dan Frommer and this is The New Consumer, a publication about how and why people spend their time and money.

I’m a longtime tech and business journalist, and I’m excited to focus my attention on how technology continues to profoundly change how things are created, experienced, bought, and sold. The New Consumer is supported entirely by your membership — join now to receive my reporting, analysis, and commentary directly in your inbox, via my twice-weekly, member-exclusive newsletter. Thanks in advance.

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