- Consumers feel pressure from economic uncertainty It turns more into funding basic purchases such as grocery. A April poll from the lending tree showed an increase in Americans who are now using purchase, and pushing subsequent groceries – 25 % this year compared to 14 % in 2024.
More Americans benefit from funding options for basic purchases, which is the latest sign of interest in the health of the economy. Consumers have increasingly turned into the BNPL for groceries, according to the data issued by the Linding Marketplace Tree-and more of these shoppers recover those loans late.
A quarter of shoppers BNPL used a gap, up from 14 % who used service a year ago, according to Clear the lending tree Among the 2000 American adults who conducted in early April.
Meanwhile, 41 % of the respondents said they had brought their loan late last year, although the vast majority had paid money within a week or less. Men, youth and borrowers with higher income were more likely to make late payments.
The increase in the popularity of BNPL coincided with the increasing fear of stagnation as a result of uncertainty about definitions and interest rates. Consumer feeling KeepWith the index drop to 52.2 last week from 57 a month. A reconnaissance by Associated Press-The NORC Center for Public Affairs has found that about half of the Americans “or” very “are interested in the possibility of recession in the next few months.
“It is quite clear that with people’s struggle with inflation and other types of economic uncertainty, people are looking for things like BNPL loans to help them luck.
BNPL – a service that allows users to pay a purchase in additional pieces – has become an attractive choice for consumers interested in avoiding the risks associated with credit card or paying interest on the loan. However, the money borrowing system without friction may lead to Excessive spending and debtAllow credit companies that provide the service to jump on the hidden late fees.
Payment strategy It was made among the owners of the higher papers Searching for luxury products, but its increasing popularity may indicate a shift in people’s financial priorities.
“Upon buying now, the payment began later, it was usually related to the treatment of the designer, the devices and the things like this,” said Scholls. “But now, people look at things like grocery and food delivery.”
Increased appetite for BNPL
BNPL services provided by applications such as Afterpay and Klarna already I found a new foothold With consumers. Doordash Announced partnership With Klarna to allow customers to delay or divide payments on food requests. All the time, loan service is still common in large ticket purchases. Plate Find 60 % of public acceptance tickets For the music festival, Kochilla used a payment plan for this event. Festival pioneers can pay less than $ 49.99 for the price of the event of $ 599.
The spread of BNPL may indicate an increase in discrimination with financial risks, especially between the younger two tunnels.
“We have a gambling economy,” said the economy of General Z Kayla Skanlon On social media last month. “We have a mechanical, a sports bet. We love a good deputy in the United States, and we can do it completely without friction. Like, we do not even put the pants.”
At the same time, consumers generally try to avoid risks in times of economic uncertainty and high BNPL opportunities, consumers indicate the interpretation of the service as less dangerous, although shoppers do not help build credit that can help them at the bottom of the line financially. With the current economic background, it is expected that these loans will remain common, as Sholls predicted.
“I don’t think there is any reason for the belief that this will do anything but the increase,” he said.
This story was originally shown on Fortune.com
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