Many consumers – especially gen Z and millennials – use buy-now-pay-later (BNPL) to split or defer payments. The types of purchases made with BNPL can range from groceries and takeaway deliveries to luxury items.
Nearly 40% of regular BNPL users consider shopping a leisure activity. Easily accessing such credit could increase consumption in this group. It is, therefore, unsurprising that the UK BNPL market is projected to triple from 2021 levels by 2030.
