How Buy Now Pay Later is Changing the Fashion Industry

Millennials and Gen Z consumers are still wary of credit cards and are looking for alternative payment methods; they are the driving force behind the growth of Buy Now Pay Later (BNPL), particularly in industries like fashion; one of the leaders in the space is Afterpay and they found that during the holiday season sneakers were the number one item financed, taking over from clothing and cosmetics; with mobile shopping rising steadily around 6 million people now have at least one BNPL app on their phone; it is becoming a way for fashion retailers, such as Delta Galil Industries, to entice customers; it also can play a role in improving cart abandonment as spreading out the payments can make expensive items seem more affordable. PYMNTS

  • With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.

Sign up for our Newsletters

Every morning the Fintech Nexus News team scours the globe for the most important fintech stories of the day in the daily Global newsletter.

The Europe edition comes out on Monday, Wednesday, and Friday featuring the most important stories in European and UK fintech.

The Latin American newsletter arrives in your inbox on Tuesdays and Fridays. This is a trilingual newsletter featuring stories in Spanish, Portuguese, and English.

Join 20,000 subscribers!