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This Survey Shows Widespread Popularity of Buy Now, Pay Later Among Online Shoppers

eCommerce is one of the many ways in which the internet has changed how we live our lives because of the fact that this is the sort of thing that could potentially end up allowing us to buy things and have them delivered without having to step outside. This field has become even more prevalent as of late, with many massive tech companies trying their hand at mimicking some of the success that Amazon has seen.

A new survey that was conducted by ConsumerAffairs found that a new trend is emerging in the ecommerce landscape, namely that of buy now, pay later offers. Most major online retailers including Amazon, Walmart and Best Buy are offering consumers the option of buying things on credit, and with all of that having been said and now out of the way it is important to note that around 80% of online shoppers have used this option at some point.

A surprising thing to note in this survey is that BNPL schemes are more popular with baby boomers who were also some of the first consumers to try out these offers. There was an assumption in the initial stages of BNPL rollouts that it would target minorities and impoverished communities, but in spite of the fact that this is the case higher income segments seem to be using it a lot more frequently with all things having been considered and taken into account.

63% of respondents to this survey said that they liked using buy now, pay later options because inflation has made things more expensive. One might think that this would lead to them reducing consumption, but that is clearly not a priority for them.

Buying things now and paying for them later used to only be possible with a credit card, but numerous ecommerce platforms are offering their own methods now as well. That will lock users into the platform because they will owe it some money, and that can help retain customers down the line as well. These schemes are still new, though, so this popularity might shift quickly.
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