Over the holidays, buy now, pay later (BNPL) use picked up as consumers looked for alternative ways to fund their shopping.
This year, BNPL will continue gaining users and growing payment value by 25.5% to reach $94.87 billion. By 2026, nearly 40% of internet users will have used a BNPL solution.
At last year’s Money20/20 event, our analyst Dan Van Dyke claimed that BNPL 2.0 was coming, marked by new business models that are more customer-focused.
The takeaway: It’s going to be another tough year, but there are some silver linings, specifically in the form of retail media and growing social commerce sales. Whether through discounts, bundles, or partnerships, retailers must play into what customers really want: getting more for less.
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