According to data firm Adobe Analytics, more consumers are opting to use Buy Now, Pay Later programs.
The holiday season isn't cheap and the twinkling lights may make you forget about the holiday bills that will come due. Many Arizonans are watching their wallets this season.
Protect your personal data: A report by the Consumer Financial Protection Bureau finds a large number of Buy Now, Pay Later terms and conditions include agreements to having personal information shared with third parties.Be wary of overspending: Since consumers do not have to pay large funds upfront, consumers who use Buy Now, Pay Later programs often check out with more items in their carts.Now for some good news.
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Research: How “Buy Now, Pay Later” Is Changing Consumer SpendingA study of 275,000 customers found that the option to pay in installments increased revenue — but was used most by financially constrained shoppers.
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Research: How “Buy Now, Pay Later” Is Changing Consumer SpendingA study of 275,000 customers found that the option to pay in installments increased revenue — but was used most by financially constrained shoppers.
Read more »
Store Cards Beat Buy Now Pay Later for Most ShoppersA new LendingTree report reveals that a majority of shoppers prefer store cards over buy now, pay later (BNPL) options, particularly older generations. While BNPL is popular with younger demographics, concerns about long-term interest rates are driving some to choose store cards.
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Store Cards Preferred Over Buy Now, Pay Later by Most ShoppersA new report by LendingTree reveals that a majority of shoppers prefer store cards over buy now, pay later (BNPL) plans. This preference may indicate a desire for longer-term financial assistance. While BNPL is popular among younger generations, older demographics favor store credit cards.
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Research: How “Buy Now, Pay Later” Is Changing Consumer SpendingAs “Buy Now, Pay Later” (BNPL) rapidly gains popularity, many retailers wonder about what this means for their bottom line. New research analyzed the purchase behavior of 275,000 consumers to understand BNPL’s effect on consumer spending. The researchers find that BNPL drives both an increase in purchase likelihood and 10% larger basket sizes.
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More Holiday Shoppers Opt for 'Buy Now, Pay Later' PlansMore shoppers are expected to use 'buy now, pay later' plans this holiday season to spread out payments, influenced by ongoing inflation and high credit card debt. Adobe Analytics predicts a 11.4% increase in spending on these plans year-over-year, with $18.5 billion projected to be spent using third-party services from Nov. 1 to Dec. 31.
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