Numerator: Most common buy now, pay later categories include...
Nearly three-quarters (72%) of Americans plan to use buy now, pay later payment options in 2025.
That’s according to a new survey from Numerator, which reveals that in the next year, buy now, pay later will be used most for home appliances (32%), furniture and home decor (32%), and personal travel (27%). Gen Z (82%) and millennials (77%) plan to utilize buy now, pay later the most.
Half (50%) of U.S. shoppers say they have used a buy now, pay later service in the past. Consumers said they used these services through fintech institutions such as PayPal (43%), Affirm (37%), Klarna (32%), Afterpay (30%), while 27% used the service through a major bank. Over the past year, top categories financed by buy now, pay later included apparel (42%), electronics and gadgets (32%), furniture and home decor (26%) and home appliances (22%).
Numerator says the main reasons that people say they turn to buy now, pay later options are to manage cash flow (36%) and make larger purchases more affordable (28%). Nearly half of Americans (48%) consider buy now, pay later for purchases exceeding $200, while existing buy now, pay later users are 44% more likely than non-users to consider it for items over $100.
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Nearly a quarter (24%) of buy now, pay later users often or always feel stressed about upcoming installments, and 14% have missed a payment or faced unexpected fees.
Consumers do have some hesitancy around buy now, pay later services, according to the survey, such as interest or late fees (41%), concern about overspending or exceeding budget (32%), and losing track of payment schedules (13%). Over half (51%) of Americans believe buy now, pay later encourages debt accumulation.
While more than half (54%) of Americans deem buy now, pay later somewhat risky, only 16% consider it very risky, and 30% do not view it as risky at all. Half (50%) of those surveyed said they support stronger regulations for buy now, pay later services, including clearer disclosures, capping fees, and stricter credit score checks.
