Simmons "Simmons Pay Payment Amount Exceeds 40 Billion KRW in First Half of This Year... Record High"

[Asia Economy Reporter Kim Bo-kyung] Simmons' interest-free installment service "Simmons Pay," offering up to 36 months of interest-free payments, recorded 40 billion KRW in transaction volume in the first half of this year. This is the highest half-year performance achieved in about three years since its launch.

According to Simmons on the 13th, Simmons Pay, introduced at the end of 2018, recorded a cumulative transaction volume of 25 billion KRW within one year of implementation and has shown an annual growth rate close to 50%. With increased furniture consumption due to the COVID-19 pandemic, Simmons Pay recorded 40 billion KRW in transaction volume in the first half of this year, achieving the highest half-year performance.

Simmons Pay offers consumers the benefit of up to 36 months of interest-free installments, presenting a subscription economy model to the furniture industry. By combining Simmons' quality with the subscription economy, it lowered the entry barriers to premium brands and gained consumer support.

Consumers can own premium products at reasonable prices without the burden of lump-sum payments. For example, the "Beautyrest Suite" mattress can be purchased for 39,000 KRW per month (based on 36 months) when applying Simmons Pay for a queen size.

Meanwhile, Simmons Korea produces mattresses at the Simmons Factorium in Icheon, Gyeonggi Province, through a domestic production system and a sleep research R&D center, managing quality by applying 1,936 quality control items.

This content was produced with the assistance of AI translation services.