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Retail TouchPoints

BNPL: A Win-Win for Retailers and Consumers as the Holidays Approach

BNPL: A Win-Win for Retailers and Consumers as the Holidays Approach
Retail TouchPoints

Over the last few years, the retail industry has seen companies such as Affirm, Afterpay and Sezzle make their mark — and for good reason. In fact, the growth of BNPL is hitting record-breaking levels — in 2021 Cornerstone Advisors say that consumers will make nearly $100 billion in retail purchases using BNPL.

Millennials and Gen Z shoppers are driving this ecommerce trend forward as a result of tight budgets, low credit and a COVID-fueled increase in online shopping. In fact, Cornerstone Advisors found that Gen Z consumers using BNPL grew from 6% in 2019 to 36% in 2021, and millennials’ use of BNPL is up to 41%. Shoppers in every age bracket are starting to experiment with this new way to pay.

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