Managing Unplanned Expenses: How The Pay Later Economy Fits Consumer Needs

Many Consumers Lack Access to Credit for Emergency Expenses

Managing Unplanned Expenses: How The Pay Later Economy Fits Consumer Needs

Whether it’s an impulsive “want” or an emergency “need,” shoppers face the same question: How can they pay for it? Consumers making unplanned purchases mostly use credit, especially credit cards, and they want to be sure their payments will go through. PYMNTS Intelligence’s latest research, “Managing Unplanned Expenses: How The Pay Later Economy Fits Consumer Needs,” a collaboration with Splitit, examines how consumers navigate the unexpected.

Inside the March Study

  • 36%: Share of consumers who made an impulse purchase over $250 in the last 90 days
  • $605: Median cost of an emergency purchase over $250 made in the last 12 months
  • 35%: Share of consumers who paid for their latest impulse purchase using a credit card

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