Dublin, April 29, 2021 (GLOBE NEWSWIRE) -- The "Global Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook - 75+ KPIs on Buy Now Pay Later Trends by End-Use Sectors, Operational KPIs, Retail Product Dynamics, and Consumer Demographics" report has been added to ResearchAndMarkets.com's offering.
Going forward, the shift to BNPL is expected to be rapid globally. Also, the COVID-19 is further expected to accelerate the adoption of this service.
BNPL is becoming increasingly popular among consumers globally owing to rise in consumer preference for deferred payment for online purchases. Consumers prefer BNPL due to affordability and convenience it offers. In APAC for instance, the increase in uptake of BNPL service has been fuelled by Gen Z and millennial shoppers.
Some companies which have embraced BNPL service include Grab, ride hailing firm; Traveloka, a travel platform; Tokopedia, an ecommerce marketplace; and Alibaba and JD.com, e-commerce giants. The BNPL trend has also taken off in Australia where players including Afterpay, Zip Pay, and Splitit have taken share from traditional credit card companies owing to fast approvals.
In Europe, BNPL is more popular in the UK as compared to other nations including Italy or Germany. Shoppers in the UK observe retail finance as a convenient way to split the cost of expensive purchases. However, in Germany, open invoice or pay after delivery is a popular payment method. In Germany, RatePay provides checkout lending solutions and open instalments for e-commerce. Other key players in the Western European market include Divido, Mash, CreditClick, and AfterPay.
In Canada, consumers are moving away from credit card fees in favor of debit or cash, owing to which retailers are offering BNPL service . For instance, PayBright's BNPL service is being offered to Canadians via 6,000 other Canadian and international retailers. BNPL service is being used for purchase of furniture, electronics, fashion and apparel, sports equipment, and others.
Further in August 2020, AfterPay extended its BNPL service in Canada. AfterPay enables shoppers to buy products and pay for it in four instalments over a short period of time. The service is offered to Canadian consumers for free assisting customers to spend without incurring interest, fees or revolving and extended debt.
Scope
BNPL Market Size and Spending Pattern
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
Buy Now Pay Later Spend Analysis by Channel: Market Size and Forecast
- Online Channel
- POS Channel
Buy Now Pay Later in Retail Shopping: Market Size and Forecast
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
Buy Now Pay Later in Home Improvement: Market Size and Forecast
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
Buy Now Pay Later in Leisure & Entertainment: Market Size and Forecast
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
Buy Now Pay Later in Healthcare and Wellness: Market Size and Forecast
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
Buy Now Pay Later in Education: Market Size and Forecast
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
Buy Now Pay Later in Automotive: Market Size and Forecast
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
Buy Now Pay Later Analysis by Consumer Attitude and Behaviour
- Buy Now Pay Later Sales Uplift by Product Category
- Buy Now Pay Later Spend Share by Age Group
- Buy Now Pay Later Gross Merchandise Share by Income
- Buy Now Pay Later Gross Merchandise Value Share by Gender
- Buy Now Pay Later Adoption Rationale Gross Merchandise Value Analysis
Reasons to Buy
- In-depth Understanding of Buy Now Pay Later Market Dynamics: Understand market opportunities and key trends along with forecast (2019-2028). Understand market dynamics through essential KPIs such as Gross Merchandise Value, Volume, and Average Value Per Transaction.
- Insights into Opportunity by end-use sectors - Get market dynamics by end-use sectors to assess emerging opportunity across various end-use sectors.
- Develop Market Specific Strategies: Identify growth segments and target specific opportunities to formulate BNPL strategy; assess market specific key trends, drivers, and risks in the BNPL industry.
- Get Insights into Consumer Attitude and Behaviour: Drawing from proprietary survey results, this report identifies and interprets key Buy Now Pay Later KPIs, including spend by age, gender, and income level.
For more information about this report visit https://www.researchandmarkets.com/r/6ofihb