A recent survey reveals that Gen Z and millennial parents are leading the charge in Buy Now, Pay Later (BNPL) usage, especially during the festive season. This trend is driven by a desire for flexibility, convenience, and the ability to spread out payments.
Key takeaways:
- Younger Demographics: Younger generations are more likely to embrace BNPL due to their familiarity with digital payments.
- Parental Spending: Parents are using BNPL to manage holiday expenses and spread the cost of gifts.
- Convenience Factor: BNPL offers a convenient way to make purchases and pay over time.
As BNPL continues to gain popularity, retailers and financial institutions must adapt to meet the evolving needs of consumers.
#BNPL #Millennials #GenZ #HolidayShopping #FinTech
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