- June 16, 2021
-- Save-to-Buy payment solution, Reel is now available on Chrome's Web Store. Besides being able to save from Reel's site, shoppers can now create a savings plan for what they want straight from their browser.
Reel is on a mission to make people's aspirations accessible, debt-free. The company was founded to debunk the myth that credit is the only way to achieve our goals; a myth that has caused so much harm in our society. "The financial system is incredibly predatory, from credit cards to 'buy now, pay later' alternatives, it's all built to drive us into more unnecessary debt," explains Daniela Corrente, CEO and Cofounder.
"I myself struggled with credit card debt for years." According to a recent report by The Balance (https://www.thebalance.com/
, the U.S. has $4.2 trillion in consumer debt alone. "Our finances play an instrumental role in our happiness, showing people that they can buy the things they want with their own cash flow, is the first step towards unlocking their true consumer power, while increasing their financial wellbeing in the process," adds Corrente.
By being part of the online shopping experience, Reel is making it convenient for consumers to "splurge responsibly"
on the aspirational things that matter to them through the power of their own saved money. "We are making it possible for Reelers to live the lifestyle they want, without the debt they don't," she adds.
"It is important for us to make ourselves available through the discovery process. See something you like, but don't need it yet? What's stopping you from starting to save $1 a day towards it? You'll be surprised by how fast it adds up," says Alejandro Quilici, CMO and Cofounder.
You can find Reel's Chrome Extension here (https://chrome.google.com/webstore/detail/reel/jcfnfkdign...
- The extension automatically scrapes the information of the item you want to save up for in seconds.
- Once shoppers set a daily/weekly savings plan and connect their bank account, Reel automates the savings for you.
- The range of items varies, the current top categories people are reeling are fashion, tech, furniture and home decor.
- Since these are mainly aspirational purchases, Reel's AOV is at ~$450 and growing.
- 67% of users are Latinx and Black
- 85% are Female
About Reel Inc.: Reel (https://joinreel.co/
) is an online savings solution that makes it easy for people to Save to Buy the things they want, like a new computer, a pair of shoes, or a comfy couch. Reel empowers consumers to achieve their aspirations, debt-free.