Global Buy Now Pay Later Market, Trends and Players 2022
The rapid expansion of Buy Now Pay Later services detailed in a new report by yStats.com
The global Buy Now Pay Later market has experienced rapid growth over the past few years. This rapid expansion is projected to continue, with BNPL sales expected to more than double between 2021 and 2026, according to the yStats.com report’s findings. Several market players are seeing even stronger growth than the industry’s average. These include the world’s three largest BNPL specialists, Affirm, Afterpay and Klarna. Last year alone, Klarna added around 60 million users to its customer base, while both Affirm and Afterpay increased their sales by more than three-quarters. Also regional players are benefitting from the market’s strong potential. For example, in MENA, Saudi Arabia-based Tamara and UAE’s Tabby each raised more than EUR 100 million in funding to further boost their BNPL offerings.
The secret behind BNPL’s rapid expansion is the smooth integration of these services into E-Commerce checkouts, attractive financing options like interest-free pay-in-four loans, and a relatively easy application process. Among the top motivations for consumers to use BNPL services is the ability to afford items that would otherwise be beyond their budgets and the desire to avoid paying credit card interest. Overall, BNPL is projected to grow faster than some other leading payment methods, to account for nearly a one-fourth of the world’s online retail sales in five years’ time, according to a forecast included in the yStats.com report.
- 1. Management Summary
- 2. Global Overview
- BNPL Industry and Trends Overview, March 2022
- BNPL B2C E-Commerce Sales, in USD billion, 2021e & 2026f
- Number of BNPL Users, in millions, 2021e & 2026f
- BNPL Share of B2C E-Commerce Sales, in %, 2021e & 2026f
- Share of Adults Who Would Prefer to Use BNPL to Buy An Item They Could Not Afford Immediately, by Selected Countries, in %, December 2021
- Breakdown of E-Commerce Websites Offering BNPL as a Payment Method, by Countries, in %, October 2021
- Market Shares of BNPL Services, in % of Top E-Commerce Websites Supporting BNPL as a Payment Method, March 2022
- 3. North America
- 3.1.USA
- BNPL Share of B2C E-Commerce Sales, in %, 2021e & 2025f
- BNPL Share of Fashion B2C E-Commerce Sales, in %, 2021e
- BNPL Users, in millions, 2020-2025f
- BNPL User Penetration Rate, in % of Internet Users, by Age Groups, 2021 & 2025f
- Top 3 BNPL Platforms Used, in % of BNPL Users, May 2021
- Top 6 Most Used BNPL Apps, in % of Downloads in the BNPL Category, Q1 2021
- Product Categories Purchased With BNPL, in % of BNPL Users, March 2021
- Reasons to Use BNPL, in % of BNPL Users, March 2021
- Share of BNPL Users Preferring BNPL over Credit Cards, in %, August 2021
- Preferences of BNPL Users if BNPL Was Not Offered, in % of Purchases, October 2021
- 4. Europe
- 4.1.UK
- Share of Online Shoppers Using BNPL, Compared to Credit Card, by Age Group, in %, July 2021
- Product Categories Paid with BNPL Services, in % of Respondents, July 2021
- Average Customer Debt, in GBP, by Selected BNPL Providers, 2020 & 2021
- BNPL Services Used, in % of Respondents, 2020 & 2021
- Share of Top 100 E-Commerce Websites Accepting Klarna and Afterpay/Clearpay, in %, May 2021
- 4.2. Germany
- Breakdown of B2C E-Commerce Sales by Payment Methods, incl. “Payment by Invoice” and “Installments/Financing”, in %, 2020-2021
- Breakdown of Preferred Payment Methods, incl. BNPL, in % of Online Shoppers, 2021
- Breakdown of Klarna Services Used, in % of Klarna Users, March 2022
- 5. Asia-Pacific
- 5.1. Australia
- BNPL Sales, in AUD billion, FY 2019 & FY 2021
- Attitude of Online Shoppers Towards BNPL Services, in % of Respondents, May 2021
- Type of Debt Held, incl. BNPL Loans, in % of Consumers, Q1 2021
- Level of Concern/Stress Over Type Debt, by Type of Debt, incl. BNPL Loan, Q1 2021
- Product Categories Purchased Using BNPL Services, in % of Consumers, Q1 2021
- Afterpay’s Share of B2C E-Commerce Sales, 2020 & 2021e
- 5.2.India
- Share of Internet Users Who Used BNPL to Pay Online, in %, H1 2021
- BNPL Sales, in USD billion, Number of Users, in million, 2021e & 2026, and Selected BNPL Providers, February 2022
- 5.3.Singapore
- Share of Adults Who Would Prefer to Use BNPL to Buy An Item They Could Not Afford Immediately, in %, December 2021
- Tenure and Late Fee of Selected BNPL Providers, January 2022
- 6. Middle East and Africa
- 6.1.Regional
- BNPL Share of B2C E-Commerce Transactions, in %, 2021e
- Overview of Selected BNPL Providers, incl. Launch Year, Country of Origin, Number of Employees, Total Funding Received, Installments, and Key Partnerships, October 2021
- 7. Top 3 BNPL Player Profiles
- 7.1.Klarna
- Company Profile, April 2022
- Number of Users, in millions, 2019-2021
- Number of Merchants, in thousands, 2019-2021
- Gross Merchandise Volume, in SEK billion, 2019-2021
- Breakdown of Net Operating Income by Selected Countries and by Income Category, 2020 & 2021
- 7.2.Afterpay
- Company Profile, April 2022
- Overview of Consumer and Retailer Fees, by Australia, USA and UK, March 2022
- Number of Active Customers, by Region, in millions, FY 2020 & FY 2021
- Number of Active Merchants, by Region, in thousands, FY 2020 & FY 2021
- Underlying Sales, by Region, in AUD million, and Breakdown by Channel, by Enterprise and Other, in %, FY 2020 & FY 2021
- 7.3.Affirm
- Company Profile, March 2022
- Company Profile, March 2022
- Overview of Lending Products, including Merchant Discount Rate, APR, Term Length, Payment Frequency and Representative AOV, March 2022
- GMV, Total Revenue, and Revenue Less Transaction Costs, in USD million, and CAGR, in %, FY 2019-FY2022f
- Number of Active Merchants, in thousands, June & December 2020-2021
- Number of Active Users, in millions, June & December 2020-2021
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