Lacoste Stores Are Adopting Alipay To Attract Tourists From China
Lacoste banks on Chinese tourism by accepting Alibaba's payment system at its U.S. stores
Recognizing its popularity in China and the influx of Chinese tourism to the U.S. in recent years, Lacoste is now catering to Chinese consumers by accepting Alipay, further expanding its retail experience. In a partnership with Verifone and Alipay, mobile payments using Alipay QR codes on Verifone mobile POS systems are now possible. Alipay is an extension of Ant Financial, the financial arm of hugely successful online retailer Alibaba.
“Chinese travelers love brands like Lacoste and we are thrilled to partner with Verifone to simplify their checkout experience at select Lacoste stores nationwide,” Souheil Badran, President of Alipay Americas, said in a press release. “Through Alipay, Lacoste stores will reduce payment and language barriers these travelers encounter at the register and ensure they have the most positive in-store experience during their visit.”
Currently, three million Chinese tourists visit the U.S. every year. According to the Department of Commerce, Chinese tourism spending in the U.S. grew 9% to $33.1 billion in 2016 from the year before. That’s a large market for American retail to take advantage of, especially if removing payment friction and leveraging existing behaviors is all it takes.