The Explosive Growth of the Buy Now, Pay Later Market

Paying it forward is so passé. Today, a growing number of consumers across all demographics are all about buying now and paying later.

Buy now, pay later (BNPL) apps and services are emerging as a popular financing alternative for many consumers across the globe. These services grant shoppers a payment method that doesn’t require them to pay the full cost of a product or service upfront at the time of purchase.

Consumers are increasingly gravitating to BNPLs for a number of reasons. Some of these include:

• Convenience - BNPL payment options appear across many eCommerce sites and are a frictionless method for completing the checkout process.
• Savings - BNPLs allow consumers to split up the payment of their purchase across lower installment amounts (typically broken up over four payment periods) without accruing any interest on their purchase as they would using a credit card. 
• Accessibility - BNPLs empower consumers to purchase things they might not otherwise buy and extend their buying power, particularly among lower income shoppers.

Moreover, BNPL services have corresponding apps that are essentially morphing into digital shopping malls. They provide a one-stop-shop for consumers, offering a plethora of brands and products directly to users to discover, explore, and ultimately purchase.

This creates a unique opportunity for advertisers to target and get in front of a wider, more budget-conscious audience that might not otherwise be aware of or be in a position to typically buy from certain brands.

That’s one of the many reasons why adMarketplace has gone all in on BNPLs, with exclusive media placements across all of today’s leading BNPL apps.

To underscore the immense value BNPLs can offer brands in terms of search and performance marketing, we’ve developed an infographic that paints a clear picture: BNPLs are reshaping the buyer’s journey and are undoubtedly the next frontier in search advertising.