In Fashion First, PacSun Begin Accepting Cryptocurrencies
California Label Makes Waves in the Crypto World.
In a fashion first, surf-inspired clothing retailer PacSun is now accepting crypto.
As of last week, PacSun’s online store has allowed payment with six cryptocurrencies- from Bitcoin to Doegcoin- and five Stablecoins (currencies designed to maintain a stable value). PacSun also accept most popular wallets including Exodus and Electrum.
Though companies such as Microsoft and Tesla have been trading with crypto for years, PacSun are the first major clothing retailer to do so. It’s a logical step for the youth-focussed brand given a reported 49% of millennials have dabbled in cryptocurrency.
Above all, PacSun say that the move was about increasing convenience. President Brie Olson explained that with the brand’s digital sales doubling over the past year, PacSun “…understand the continued importance of creating an exceptional online shopping experience for our customers.”
It’s a big deal not just for crypto users, but as a symbol of how retailers are adapting their sales methods to suit the needs of consumers’ lifestyles. And it’s likely just be the beginning, as PacSun “…anticipate many other companies following suit.”
PacSun has 400 physical outlets across the US and Puerto Rico. In 2020, PacSun made $295.7 million in online purchases worldwide.