‘Buy now, pay later’ is becoming a huge business
According to Adobe, “buy now, pay later” experienced 215% year-over-year growth in the first two months of 2021. Its researchers noted that more retailers are signing up, which makes sense given that consumers using the service place orders that are 18% larger than shoppers who don’t.
“Trends fueling growth include digitization,rising merchant adoption, increasing repeat usage among younger consumers and an expanding set of players,” McKinsey said in a report published last month.
There’s more: “With several buy-now-pay-later providers planning to expand to higher-value retailers, or offer their products in-store, the risk that consumers could take on unaffordable levels of debt is increasing.”
credit : www.edition.cnn.com/2021/08/02/investing/premarket-stocks-trading/index.html