- Laybuy Group (LBY) reports its affiliate marketing network in the UK is off to a strong start, after launching ahead of schedule
- The network went live in August and LBY says since then it has exceeded its expectations in terms of orders processed
- Its gross merchandise value is also five times higher than originally forecast, with plans to further roll out the offering
- Under the marketing network offer, Laybuy shoppers can gain in-app exclusives when shopping with select retailers
- Shares in Laybuy Group closed 6.25 per cent higher at 51 cents each
Laybuy Group (LBY) reports its affiliate marketing network in the UK is off to a strong start, after launching ahead of schedule.
The buy now pay later stock's latest product went live at the end of August and allows users access to more retailers as well as exclusive deals.
LBY said since its launch almost a month ago the product has exceeded expectations in terms of orders processed.
The network's gross merchandise value for the first month is also five times higher than its internal forecast.
LBY Co-Founder and Managing Director Gary Rohloff said the launch allowed more people to checkout using Laybuy.
"The new product, delivering in-app exclusives, is a key part of Laybuy’s new affiliate platform and will introduce UK shoppers to even more brands, allowing them to buy more of the goods they want and love and spread the cost over six weeks, interest-free," Mr Rohloff said.
"The launch of the new in-app product and complementary platform will allow the company to rapidly increase the number of merchants in the UK where Laybuy customers can pay with Laybuy.
"This will help drive significant increases in both the value and number of transactions made using the Company’s services."
LBY is planning to rollout the affiliate marketing network product into other countries, following the success of the UK launch.
Shares in Laybuy Group closed 6.25 per cent higher at 51 cents each.