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>> everyday BNPL orders, including groceries, accounted for barely 1% of all purchases in 2021. > Presumably the share for groceries alone didn't increase mean
by velavar 3y ago
>> everyday BNPL orders, including groceries, accounted for barely 1% of all purchases in 2021.
> Presumably the share for groceries alone didn't increase meaningfully in 2022, or that would have been noted for effect, so we're looking at less than 1.4% of all BNPL payments for groceries.
It could just mean that BNPL as a product was not much used a couple of years ago, no? It could just mean that these folks would merely then put their groceries on a revolving credit card (which in many ways is worse). It doesn't necessarily mean folks are shifting to riskier forms of debt?
- __derek__ 3y agoAh, my pull-quote is confusing because it leaves out the context that the denominator here is all BNPL purchases, not all purchases. That said, you're right that this could also just be a product of new offerings, as BNPL in point-of-sale systems is newer than BNPL online.