High street giant Marks & Spencer are set to offer a ‘buy now, pay later’ scheme in a huge shopping shake up.
According to The Guardian, the exciting option will allow customers to pay for online orders in instalments or give them extended time to pay after purchasing, meaning there’ll be no more waiting until pay day to splash out on an online shopping spree.
MORE: These new M&S jeans cost just £29.50 and they’re as soft as a kitten
The scheme will reportedly mimic the ways of payment systems like Klarna, which has grown hugely popular with younger online shoppers in recent times, allowing them to hand money over for their purchased goods in affordable chunks, in a more flexible way of shopping.
One of M&S’s high street rivals Next also offers the same sort of plan, letting shoppers pay off their purchases bought on a store card.
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Marks & Spencer’s reported plan to introduce a similar option comes as part of the brand’s ‘tactical actions’ to modernise the business, following its drop in sales rates over the past seven years.
There is no confirmation yet on when the ‘buy now, pay later’ offer will come into play – with no official announcement from M&S to shoppers – and the store are reportedly yet to sign a contract with a payment service.
The news comes after M&S left loyal clothes shoppers excited when they announced the release of their Per Una autumn range, leaving lovers of the brand swooning over the pieces.
One item from the range got autumnal fashion fans particularly thrilled- the lilac Wool Cocoon Coat.
SHOP NOW: Wool Cocoon Coat, £129, Marks & Spencer
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The gorgeous purple number is the ideal purchase for those on the hunt for the perfect winter wardrobe staple.
The classic style paired with the super on trend colour way is the ideal option for chilly day fashion.
Taking to social media to gush over the coat, one user wrote, ‘Love the colour of this coat 😍😍😍,’ while a second chipped in, ‘Yup. New coat sorted.’ ‘Love this colour ❤️,’ added a third.
