Splitit - Buy Now, Pay Later: Beating Inflation WIth BNPL: How Merchants And Consumers Are Navigating The Cost-Of-Living Crisis - August 2022 - A close look at how BNPL can reduce the impact of the current economic climate

Beating Inflation WIth BNPL: How Merchants And Consumers Are Navigating The Cost-Of-Living Crisis

Inflation Expands Consumer, Merchant Interest in BNPL

The loss of spending power is taking its toll on how consumers spend their money, which in turns creates new interest from new categories of merchants who see BNPL as a way to make the sale, says Erik Svenson, head of global consumer finance for dental supply company Dentsply Sirona. Read more in the Buy Now, Pay Later Tracker®, a PYMNTS and Splitit collaboration.

Inside the August Tracker

  • Consumers and merchants are turning to BNPL to deal with the cost-of-living crisis. Consumers are using BNPL more for both small- and big-ticket items, and merchants have seen a steady increase in sales when offering BNPL options — and this growth is not showing any signs of slowing.
  • Inflation is taking a bite out of consumers’ pockets, but one dental supplier found a BNPL solution that helped patients keep their oral health intact.
  • Recent economic conditions have significantly affected the BNPL market and consumer spending power. Learn insider info on how consumers are using BNPL in these times and what retailers can do to succeed.

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