Almost 75% of BNPL users in the US are Gen Z or millennials; D2C brands and cross-border ecommerce

More than 45 million people ages 14 and older in the US will use buy now, pay later (BNPL) services this year, according to our inaugural user forecast for these financing options. That's up 81.2% over 2020, and the age range of BNPL users will widen over the coming years as well.

June 28, 2021 Almost 75% of BNPL users in the US are Gen Z or millennials; D2C brands and cross-border ecommerce More than 45 million people ages 14 and older in the US will use buy now, pay later (BNPL) services this year, according to our inaugural user forecast for these financing options. That's up 81.2% over 2020, and the age range of BNPL users will widen over the coming years as well. Back in 2018—when the key players of today, such as Affirm, Afterpay, and Klarna, were still establishing themselves as legitimate payment providers—more than 80% of BNPL users were millennials or Gen Zers 14 and over. That figure will drop to 73.2% this year, though younger consumers are still more willing than most to try alternative payment options. Millennials will continue to make up the greatest share of the user base through the end of our forecast in 2025. Last year, more than 40% of BNPL service users were millennials. That said, Gen Z will eat into this share over the next four years, as this cohort ages into digital shopping. Since BNPL payments became more mainstream, Gen Z digital buyers have been flocking to these alternative payment services in larger numbers than their millennial counterparts have. By the end of 2022, 44.1% of Gen Z digital buyers ages 14 and older will have used BNPL services at least once that year, compared with only 37.2% of millennial digital buyers. Read the full article. Trust Your Source. Trust Your Decisions. No one understands the value of a decision more than The Wall Street Journal. We are the essential resource for the world's most influential people and businesses, with 82% of our audience saying we help them make informed decisions. Decide to partner with us and you can reach today's business decision makers. Podcast: Around the World with ... Online Shopping—D2C brands and cross-border ecommerce On today's episode, we discuss online shopping: Which countries are growing the fastest around the world and why, how D2C brands are changing things up, and how do we solve for all the extra waste created from the ecommerce boom. Tune in to the discussion as eMarketer principal analyst Bill Fisher hosts principal analyst Paul Briggs and research analyst at Insider Intelligence Man Chung Cheung. "Behind the Numbers" is made possible by VTEX. Listen in. [Webinar] Carrefour's Data Collaboration Strategy Central to global retailer Carrefour's successful digital transformation is connected data. Hear how data collaboration fits into Carrefour's strategy, and how you can get ahead with a privacy-conscious approach. Join this live eMarketer Tech-Talk Webinar, with presenting sponsor LiveRamp. Register Now Hilton is doubling-down on personalization for the cookieless future For Hilton Hotels, first-party data is key to ensuring its guests have a comfortable—and memorable—stay at its properties. Watch Industry Voices: Spotlight on Travel, with Hilton's Amy Martin-Ziegenfuss, senior vice president of global enterprise and brand marketing, to learn how customer data informs the hospitality brand's advertising and guest amenities. Watch now. Report: Q2 2021 Digital Video Trends This report covers key events in the digital video industry based on data, trends, and business activity in Q2 2021. It includes forecasts for ad spending (upfront, linear addressable TV, and linear programmatic TV) and time spent with media. Read the executive summary. What US retail categories are growing the fastest? Apparel and accessories will see US sales jump nearly 30% in 2021, making the retail category by far the fastest growing in the US. See the chart. ©2021 Insider Intelligence Inc. 11 Times Square, New York, NY 10036   eMarketer Daily is published by Insider Intelligence Inc. Unsubscribe | Change email address | Update preferences | Advertise Select "Research Submissions" for potential inclusion in the eMarketer Daily. If you cannot view the HTML newsletter, please read it in your browser here.