Today in Data: Younger Shoppers Embrace BNPL

Today in data, younger consumers — millennials and Gen Z — use buy now, pay later (BNPL) more often than their boomer and Generation X counterparts as this installment payment method grows in popularity.

Data

$125B: Value of the BNPL market last year

$27M: Amount of funding BNPL provider Scalapay recently secured from the Italian postal service

7 in 10: Share of millennials using BNPL in luxury/specialty stores

46%: Portion of millennials who have used BNPL at merchants where they also hold store cards