Global Buy Now Pay Later Market and Trends 2022

Buy Now, Pay Later to Maintain Strong Growth Through 2026

BNPL services expanding their share of global B2C E-Commerce

According to findings in the new report, the number of BNPL users worldwide has increased significantly last year and is projected to maintain strong growth through 2026. By that year, close to a quarter of online retail sales is expected to stem from BNPL. The adoption is mainly driven by the younger generations which show the highest BNPL user penetration rates among all demographic groups, according to surveys in the U.S. and the UK. Moreover, a sampling of U.S. consumers highlighted the most popular products purchased using the BNPL payment method in 2021. These were “Electronics”, “Clothing and fashion items” and “Furniture appliances”. 

BNPL service providers double their users and Klarna launches new features to drive market expansion

As a result of increased demand for BNPL services, leading service providers Klarna, Afterpay, and Affirm each doubled their user base during 2021. Even with such rapid growth, the three BNPL specialists still face increasing competitive pressure as more players are entering the space and pushing retailer fees down. In response, the BNPL leaders expand beyond their traditional offerings. For example, Klarna recently launched a super-app supporting all services around online shopping.

Questions Covered in the report:

•  What was the size of the global BNPL market in 2021 and how is it projected to grow through 2026?
• How high is BNPL user penetration across different markets?
• What are online shoppers’ attitudes towards using BNPL services?
• Which were the most popular product categories purchased using BNPL in 2021?
• Who are the major BNPL market players worldwide?

Please note: For this report, the purchase of an Enterprise license allows up to ten worldwide users of an organization access to the report