Evolving Consumer Patterns in BNPL Adoption: A Post-Pandemic Perspective

Abstract

In recent years, the Buy Now, Pay Later (BNPL) services have been increasing their use especially during and after the COVID-19 pandemic. With the increase in dependence on online shopping and immediate credit, BNPL became a potentially appealing option. This paper examines the consumer behaviour that has changed in the post- pandemic era towards BNPL. It dwells on the transformation in the consumer behavior in spending, knowledge of the BNPL by people and the use of the services by various groups of people especially on age, income, and digital knowledge.

As the results indicate, the younger consumers and online shoppers constitute the biggest proportion of BNPL users. Simultaneously, numerous users are concerned with the area of overspending, the inability to make payments on time and the threat of being brought to the short-term debt. Even though most individuals find BNPL convenient and accessible, the knowledge concerning its long-term financial effect is still insufficient. The paper raises the importance of increased financial awareness, responsible use and balanced regulation to ensure that BNPL is able to expand in the growing digital financial ecosystem in a sustainable manner.