North America Growth
BNPL has gone mainstream in North America. The biggest providers are household names, and the region accounted for the majority of global sales, with an expected 88 million users by the end of 2023 in the US alone. And while the seemingly exponential growth of the North American market from the past few years has slowed, it will continue to expand. Forecasts put BNPL purchases at 8.5% of all e-commerce transactions by 2025, up from 3.8 in 2021. Trends As inflation remains high, BNPL users are relying on the apps to help manage household spend. Far from the origins of the micro-loans which were largely used for larger retail purchases like Peletons and new TVs, North Americans are splitting their everyday expenses into installments. In the US, 20% of BNPL users have split their groceries into installments, while 27% have used the microloans to cover them until their next paycheck. Whether for luxury goods, high-cost purchases, or essentials, BNPL adoption is a reflection of a continued move away from credit cards and
compounding debt. Biggest Players PayPal | Affirm | Klarna | Afterpay | Zip
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
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