According to the Kearney report, Poles are increasingly willing to use deferred payments. In this regard, we are at the forefront of Europe, well above the average.
In Europe, the “Buy Now, Pay Later” (BNPL) service is gaining popularity, which means deferred payments for already made purchases.
Deferred payments. Poland in the lead
Data from Kearney’s European Retail Banking Radar report shows that among the 13 countries surveyed, Italy and Sweden lead the way, with two in three consumers (67 percent) already using the option. In second place is Romania (64%).
– The popularity of the solution in Poland is due, on the one hand, to the relatively high level of integration of BNPL solutions in online stores and on the largest e-commerce platforms, which means the simplicity and availability of this solution on our market. Poles are willing to use technological innovations, which is also evidenced by the results of the survey - 22 percent. Poles surveyed chose the option of deferred payment due to the desire to “try” this service (against 18% on average in the study). On the other hand, consumer preferences are changing - the BNPL market has been growing since the beginning of the year, and with it the level of financing of purchases through non-bank loans (“payday loans”) has been declining. Thus, it can be said that the Poles are moving to this new form of financing purchases, especially those made through online channels - comments Jakub Szekierzyński, manager of Kearney.
Our result is well above the European average (57%). Less than half of buyers use BNPL in countries such as Austria, the Czech Republic and Portugal.
Almost a third of all transferred payments in Poland (36%) cost less than 50 euros. Every fifth transaction (21%) is between 50 and 99 euros, and every fourth transaction (25%) is between 100 and 249 euros.
Most often we defer payments for electronics
The Kearney report shows that the most popular BNPL purchase category in Europe is personal electronics. In six of the thirteen countries surveyed, more than half of consumers used this option to complete purchase payments, for example. phone, smart watch or headphones. In second place are DIY tools - in eight countries, the percentage of deferred payment for this type of equipment exceeded 40%. Europeans often prefer to defer payments for fashion-related purchases as well. BNPL is most often used by consumers from France (39%), Poland and Romania (37% each) to buy clothes, shoes and accessories.
Source: Wprost
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