Skip to content
Previous article
Now Reading:
The Rise of Buy Now, Pay Later Among High-Income Consumers

The Rise of Buy Now, Pay Later Among High-Income Consumers

Recent trends reveal that Buy Now, Pay Later (BNPL) options are not just for lower- to middle-income consumers, but are increasingly appealing to high-income households as well. A recent report from PYMNTS Intelligence highlights that around two-thirds of BNPL users cite cash flow management as a significant benefit, while a third use it to afford larger purchases. Notably, one-third of consumers earning over $100,000 annually have utilized BNPL, with many choosing it as a preferred payment method rather than a necessity. The luxury sector is responding to this trend, with companies like Klarna and Affirm partnering with high-end retailers like Neiman Marcus and Gucci to offer flexible payment options. This shift is crucial as luxury brands face declining customer bases and rising prices. With inflation impacting consumer spending, even high earners are feeling the pinch, making BNPL an attractive solution for managing discretionary expenses while maintaining a comfortable cash flow.

Read the full article here.

Cart

Close

Your cart is currently empty.

Start Shopping

Select options

Close