Top Takeaways on
Buy Now, Pay Later
Usage of Buy Now, Pay Later is on the Rise
Buy Now, Pay Later Prevalence For Online Purchases In the Past Year
%
Buy Now, Pay Later Usage For Online Purchases In The Last Year
%
Only BNPL Users
%
Sometimes BNPL Users
%
Never BNPL Users
Number of times for Buy Now, Pay Later Usage L12M (Among Users)
All BNPL Users
BNPL Only Users
BNPL Sometimes Users
Top Items Purchased with Buy Now, Pay Later
Electronics
Clothing
Appliances
Furniture
Housewares
Generally, Buy Now, Pay Later is most used for clothes and electronics purchases, though conversion within category is highest for furniture or electronics purchases
Furniture
%
Electronics
%
of all purchases within category are made using Buy Now, Pay Later
Consumers indicate positive experiences using Buy Now, Pay Later and in turn feel inclined to use it again
Positive Experience(s) with Buy Now, Pay Later
All BNPL Users
- Love it! ? 33%
- I Like it ? 40%
BNPL Only Users
- Love it! ? 49%
- I Like it ? 26%
BNPL Sometimes Users
- Love it! ? 28%
- I Like it ? 45%
Convenience and being able to buy items one could otherwise not afford are top reasons for use; rewards and remaining debt free are top barriers.
Buy Now, Pay Later Intent For Next 12 Months (Top 2 NET)
%
Total
%
BNPL Only Users
%
BNPL Sometimes Users
%
BNPL Never Users
When Users were asked about their Buy Now, Pay Later Experience…?
Credit checks are seen as a necessary component of the service, though few prefer having hard credit checks
Impact on Decision to Use Buy Now, Pay Later By Credit Check Type (Top 2 NET)
Soft Credit Check
Hard Credit Check
%
%
BNPL Always Users
%
%
BNPL Sometimes Users
%
%
BNPL Never Users
Confidence In Understanding Difference Between Soft & Hard Credit Checks
BNPL Always Users
- Strongly Agree 24%
- Somewhat Agree 36%
BNPL Sometimes Users
- Strongly Agree 23%
- Somewhat Agree 45%
BNPL Never Users
- Strongly Agree 13%
- Somewhat Agree 35%
Credit Check Preferences
BNPL Always Users
- Soft Credit Check 32%
- Hard Credit Check 13%
- Indifferent 55%
BNPL Sometimes Users
- Soft Credit Check 57%
- Hard Credit Check 6%
- Indifferent 37%
BNPL Never Users
- Soft Credit Check 39%
- Hard Credit Check 5%
- Indifferent 56%
When Users were asked about Credit Checks Experience…?
A word on our approach
This study was conducted using immersive mobile messaging-based conversational exercises that capture robust quant data and emotive qualitative inputs in real-time, all in one seamless experience.
Click this link to see a demo of how our technology works…
