Youth Fashion Retail Chain Pacsun Now Accepts 11 Cryptocurrencies
The company says that their audience is youthful and “very tech-oriented,” which is clearly proved by the “increasing desire towards cryptocurrency.”
Pacsun Goes Crypto!
Pacific Sunwear of California, also known as Pacsun, is an American youth fashion and retail clothing chain that was founded in 1982. The company, with its 400 stores in 50 states as well as in Puerto Rico, now joins brands that support cryptocurrency acceptance.
In an announcement of crypto-asset acceptance, the company said:
“Pacsun prides itself on learning from its core consumer of Gen Z. With cryptocurrency being one of the major trends currently among that audience.”
The company proceeds with the crypto payments in partnership with the firm Bitpay. They announced that the system will accept 11 different cryptocurrencies including bitcoin (BTC), ethereum (ETH), dogecoin (DOGE), litecoin (LTC), bitcoin cash (BCH), and wrapped bitcoin (WBTC). Five stablecoins that are pegged to the US dollar will be also acceptable by Bitpay’s payment services.
The president of Pacific Sunwear of California, Brie Olson, recently stated:
“With digital sales doubling since last year, we understand the continued importance of creating an exceptional online shopping experience for our customers […] It’s incredible to pave the way for the fashion and retail industry, being the first to offer cryptocurrency payments through Bitpay, and we anticipate many other companies following suit considering the ease it brings to the checkout process.”
Pacific Sunwear of California is aware of the growing desire towards crypto-assets and is willing to keep up with current lifestyle trends. In the announcement, the company considers it extremely critical to keep up with the latest trends. The company has been more aware and convinced of these trends after they launched their new product line named Pacsun Kids, in collaboration with the ROBLOX metaverse. The co-founder and CEO of Bitpay, Stephen Pair, remarks:
“Pacsun shares our goal to let everyone live life on crypto making them a natural addition to our growing list of top brands adopting cryptocurrency.”
Michael Relich, the co-CEO of Pacific Sunwear of California, states that the primary consumer of the company is Gen Z and thus the company cares a lot to “align with their lifestyles and resonate with them on a more personal level.” Relich concludes:
“Seeing their increasing desire towards cryptocurrency, it was clear that we needed to adjust and offer Bitpay as another payment option, to further instill their confidence in us as one of their go-to retailers that truly listens.”