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> 1% of all purchases in 2021. Percent of purchases seems like the wrong statistic. It is likely the case that most purchases are very small, people buying a
by stametseater 4y ago
> 1% of all purchases in 2021.
Percent of purchases seems like the wrong statistic. It is likely the case that most purchases are very small, people buying a single pack of cigs at a gas station and things like that. Furthermore, people with a lot of money likely make more purchases than people with little money. The percentage of the population making such everyday BNPL purchases is the interesting statistic, and I suspect it is higher than the % of all purchases.
- tracker1 4y agoAlso, where to credit cards, effectively BNPL fit in? I mean, almost all my purchases are on CC, and mostly/usually paid before balance due just for the relative discount/rewards. Ironically those rewards out of tx fees, and subsequent higher pricing because of it.
- __derek__ 4y agoAccording to the linked CFPB survey[1], 17% used BNPL at least once (and only 3% used it six times or more), so the percentage of the population using it for everyday purchases is probably small. [1]: https://files.consumerfinance.gov/f/documents/cfpb_consumer-use-of-buy-now-pay-later_2023-03.pdf https://files.consumerfinance.gov/f/documents/cfpb_consumer-...