A recent Lending Tree survey reveals that more Americans are using buy now, pay later (BNPL) loans, particularly for groceries, reflecting economic struggles. Conducted from April 2-3, 2025, the survey of 2,000 consumers shows that approximately 50% are utilizing BNPL services, with 25% using them for groceries—an increase from 14% in 2024 and 21% in 2023. Additionally, 41% reported late payments on BNPL loans over the past year.
Matt Schulz, Lending Tree’s chief consumer finance analyst, noted that rising inflation and high interest rates are driving consumers to seek budget relief through BNPL loans. He warns of potential risks associated with accumulating multiple loans, as 60% of BNPL users reported having several loans, leading to financial mismanagement.
The trend is also seen in events like Coachella, where many attendees used BNPL services for festival tickets. Recent moves by companies like Doordash to accept BNPL payments for food delivery highlight the increasing normalization of debt in consumer lifestyles. Though job growth has been stable, warnings from major companies suggest a potential decline in demand, creating uncertainty for consumers. Schultz anticipates that conditions may worsen in the short term.
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