Digital Approaches To Installment Payments And Retail

By  |  December 3, 2020
 | 
Digital Commerce Retail

A number of American consumers are feeling financial pressure as the holiday season progresses, and will turn to flexible spending plans to help get them through the crunch. More merchants are embracing buy now, pay later (BNPL) choices to let customers pay in four interest-free installments. And in automated retail, a robotic kiosk that makes smoothies is opening at a Walmart store in California. All this, Today in Data.

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    Data:

    $680B: Amount of global consumer spending via installment payment plans expected by 2025.

    79%: Share of non-millennial consumers who report being financially stable.

    45: Maximum number of drinks that the Jamba by Blendid system can process each hour.

    39%: Portion of BNPL users who leverage the services to avoid taking on credit card debt.

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    20%: Approximate share of shoppers between 22-30 years old who lack credit histories robust enough to get credit card approval.


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