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Global Buy Now Pay Later Market and Trends 2022

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  • 59 Pages
  • March 2022
  • Region: Global
  • yStats GmbH & Co. KG
  • ID: 5567998

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

Table of Contents

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
  • Number of Klarna’s Users, in millions, 2019-2021
  • Number of Afterpay’s Active Customers, by Region, in millions, H1 2020 & H1 2021
  • Number of Affirms’s Active Users, in millions, June 2019-2021

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
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



Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Affirm
  • Afterpay
  • Amazon 
  • Atome 
  • Clearpay
  • Flipkart
  • Grab Paylater
  • Hoolah
  • Klarna
  • Mastercard
  • Monzo
  • Pace
  • Paypal
  • Paytm
  • Rely
  • Revolut
  • Visa