Dublin, Oct. 20, 2023 (GLOBE NEWSWIRE) -- The "Australia Buy Now Pay Later Business and Investment Opportunities Databook - 75+ KPIs on BNPL Market Size, End-Use Sectors, Market Share, Product Analysis, Business Model, Demographics - Q2 2023 Update" report has been added to ResearchAndMarkets.com's offering.
BNPL payments in Australia are expected to grow by 18.2% on an annual basis to reach US$14.7 billion in 2023.
Medium to long term growth story of BNPL industry in Australia remains strong. BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 10.9% during 2023-2028. The BNPL Gross Merchandise Value in the Australia will increase from US$12.4 billion in 2022 to reach US$24.7 billion by 2028.
This comprehensive report offers an in-depth data-centric analysis of the Buy Now Pay Later (BNPL) industry, providing valuable insights into market opportunities and potential risks across a diverse range of retail categories. With over 75 key performance indicators (KPIs) tailored to the country level, this report offers a comprehensive understanding of the dynamic landscape of the BNPL market. It covers critical aspects such as market dynamics, size, forecasts, and market share statistics.
The report breaks down these opportunities by categorizing them based on business models, sales channels (offline and online), and distribution methods. Additionally, it offers a snapshot of consumer behavior and the dynamics of retail spending in Australia. KPIs are presented in both value and volume terms, enabling a thorough comprehension of the market dynamics at play.
In Australia, the BNPL industry has enjoyed favorable conditions for growth. However, it now faces regulatory challenges, with discussions about potential regulation under the National Consumer Credit Protection Act. High-interest rates and rising living costs have also impacted BNPL firms' operations and consumers' ability to repay loans. While short-term growth may occur as consumers turn to BNPL options during the holiday season, the market is expected to face ongoing pressure due to macroeconomic and regulatory factors.
The Australian government is considering several options for regulating the BNPL industry, including affordability checks, partial inclusion under the Credit Act, or full regulation alongside credit card providers. This regulatory landscape remains uncertain.
Despite these challenges, BNPL providers are seeking opportunities to expand, particularly in the travel and tourism sector. Collaborations with travel companies like Jetstar and Expedia are emerging to cater to budget-conscious travelers. Moreover, consumers are increasingly using BNPL options to cover essential expenses like groceries and petrol bills, further boosting demand for BNPL products in the short term. However, this usage also raises concerns about the revolving door of debt for consumers.
In conclusion, this report offers a comprehensive overview of the BNPL industry in Australia, covering market dynamics, potential regulatory changes, and trends in consumer behavior and retail spending.
Scope
Australia Buy Now Pay Later Market Share Analysis by Key Players
- Afterpay
- Zippay
- OpenPay
- Payright
- humm
- Laybuy
- Splitit
- Sezzle
- Klarna
- Paypal
- LimePay
- Brighte
- Art Money
Australia BNPL Market Size and Spending Pattern, 2019-2028
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
Australia Buy Now Pay Later Revenue Analysis, 2019-2028
- Buy Now Pay Later Revenues
- Buy Now Pay Later Share by Revenue Segments
- Buy Now Pay Later Revenue by Merchant Commission
- Buy Now Pay Later Revenue by Missed Payment Fee Revenue
- Buy Now Pay Later Revenue by Pay Now & Other Income
Australia Buy Now Pay Later Operational KPIs & Statistics, 2019-2028
- Buy Now Pay Later Active Consumer Base
- Buy Now Pay Later Bad Debt
Australia BNPL by Purpose, 2019-2028
- Convenience - Short Term Loans
- Credit - Long Term Loans
Australia BNPL by Business Model, 2019-2028
- Two-Party (BNPL offered by retailers)
- Three-Party BNPL Offering
Australia BNPL by Merchant Ecosystem, 2019-2028
- Open Loop System
- Closed Loop System
Australia BNPL by Distribution Model Analysis, 2019-2028
- Standalone
- Banks & Payment Service Providers
- Marketplaces
Australia BNPL Analysis by Channel, 2019-2028
- Online Channel
- POS Channel
Australia Buy Now Pay Later in Retail Shopping: Market Size and Forecast, 2019-2028
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
Australia Buy Now Pay Later in Home Improvement: Market Size and Forecast, 2019-2028
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
Australia Buy Now Pay Later in Travel/Entertainment: Market Size and Forecast, 2019-2028
- Gross Merchandise Value Trend Analysis
- Average Value per Transaction Trend Analysis
- Transaction Volume Trend Analysis
Australia Buy Now Pay Later in Services: Market Size and Forecast, 2019-2028
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
Australia Buy Now Pay Later in Automotive: Market Size and Forecast, 2019-2028
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
Australia Buy Now Pay Later in Healthcare and Wellness: Market Size and Forecast, 2019-2028
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
Australia Buy Now Pay Later in Groceries: Market Size and Forecast
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
Australia Buy Now Pay Later Analysis by Consumer Attitude and Behaviour
- Sales Uplift by Product Category
- Share by Age Group
- Share by Income
- Share by Gender
- Adoption Rationale
For more information about this report visit https://www.researchandmarkets.com/r/b6cvoq
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