“Buy Now, Pay Later” (BNPL) Is The Latest Luxury Trend

Purchasing a luxury item is a watershed moment in many people’s careers. This is especially true for the new generation of spenders who have just recently begun their professions, and purchasing that major purchase represents a move from adolescence to maturity. Many firms cannot afford to disregard this rising group’s proclivity for luxury consumption. They will be the core that will assist bring in income in the future, and it does not harm to develop a connection with them now.

While this set of spenders in their 20s and 30s has a strong desire for luxury, they may not have the financial wherewithal to complete the whole purchase. As a result, there is a chasm between the want to acquire and the means to pay. To bridge this gap, businesses are formed, and a new phenomena known as “Buy Now, Pay Later” (BNPL) is introduced into society.

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