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How BNPL will give your customers the gift of a better budget
Considering 77% of Americans find it harder to save with the prices of products increasing, consumers are actively looking for solutions to help them save, including shopping for cheaper alternatives and using flexible payments like BNPL. Currently, 21% would consider using a BNPL option to make their holiday shopping budget go further. Millennials are the most likely to give BNPL a try, at 35%.
Among consumers who already use BNPL, 40% do so primarily to help them budget and manage money during the holiday shopping period. Other festive BNPL benefits include fast and easy checkout (34%) as well as safety and security (29%).
TIP: Make checkout (and saving a breeze) for your customers. This year, 1 in 5 businesses plan on offering BNPL to accommodate consumers looking for a flexible payment option at checkout. Additionally, 21% will offer payment links to streamline checkout. Some are even looking to automate the checkout process, with 6% offering self-checkout kiosks.
