The success of buy now, pay later (BNPL) adds to the pressure to stand out as an installment payments provider. Competition in the space keeps increasing, particularly as shoppers change how they pay retailers and the other corporations with whom they interact daily. And in retail, Feather is among the rising tide of online destinations offering “flexible ownership” of furniture. Customers can choose to pay a monthly membership fee, or they can rent home furnishings a la carte through the company. All this, Today in Data.
Data:
1973: The year Rent-A-Center went into business.
86 percent: Portion of Afterpay users aged 23 to 36 who utilized debit cards to sign up.
27 percent: Segment of consumers who planned to use BNPL for 2019 holiday purchases.
$19: Feather’s monthly membership fee for furniture rentals.
2M: Number of Australian BNPL users as of 2018.
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