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Unbearably High Amount of People Pay for Grocery with BNPL

As a growing number of consumers choose to use Buy Now, Pay Later (BNPL) for their goods, it is never a healthy economic signal. Although the short-term loan option enables one to spread out payouts for significant transactions, using it for smaller items you use each month can put you in a terrible position where half of your income goes into previous expenses.

The most recent data from Adobe (ADBE) Analytics shows that from 2022 to 2023, income from online transactions using BNPL increased by 27%. Products sold in this manner increased by 14% the previous year and by 10% during the initial 2 months of 2022.

Additional research by Adobe revealed that during the initial 2 months of 2023, the number of grocery orders placed online through BNPL increased by 40%. While ordinary clothing purchases increased by only 8%, sales of home items increased by 38%.

Consumers spent $126 billion on house furnishings and $86.8 billion on food online in 2022, up only over 10% from the past year.

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