Youth Fashion Retail Chain Pacsun Now Accepts 11 Cryptocurrencies
American retailer Pacific Sunwear of California, LLC, also known as Pacsun, now supports crypto-assets. Pacsun was founded in 1982 and has approximately 400 stores across the 50 states and Puerto Rico.
The company announced that it has partnered up with Bitpay, a crypto payments company. It will accept 11 crypto assets such as bitcoin ( Bitcoin Cash), bitcoin cash , ethereum [ETH], wrapped bitcoin (WBTC), dogecoin(DOGE) and litecoins ( LTC). Pacsun will accept five stablecoins that are tied to the U.S. Dollar.
“Digital sales have doubled since last year. We understand the importance of providing an exceptional online shopping experience for customers,” Brie Olson, president of Pacsun, stated in a statement. It’s amazing to be the first company to accept cryptocurrency payments via Bitpay. We anticipate that many other companies will follow suit, considering the ease of the checkout process.
Pacsun believes there is an increasing desire to use Cryptocurrency. Fashion chain believes it’s important to keep up with lifestyle trends
In the announcement, Pacsun states that it’s just as important for them to keep up to date with fashion trends as they are to keep up to speed with lifestyle trends. These trends were evident when Pacsun launched its Pacsun Kids line of products, in collaboration with ROBLOX. Stephen Pair, cofounder and CEO at Bitpay, said that Pacsun shares their goal of letting everyone live a crypto-free life, making them an obvious addition to the growing number of top brands adopting cryptocurrency.
Michael Relich, Pacsun’s co-CEO, explained that Gen Z is Pacsun’s primary customer and is very tech-oriented. Relich stated that the company puts a lot of effort into ‘aligning with their lifestyles and communicating with them on an individual level. Pacsun has seen a rise in demand from young people who want to use digital currencies to pay for goods or services.
Relich stated, “Seeing their growing interest in cryptocurrency, it was obvious that we had to adjust and offer Bitpay to them as an additional payment option, in order to further instill our confidence in them as one of their top-to retailers that truly listens.”