USA Buy Now Pay Later (BNPL) Market Overview
According to SPER Market Research, the USA Buy Now Pay Later Market is estimated to reach USD XX billion by 2033 with a CAGR XX%.
BNPL is an acronym that stands for "Buy Now, Pay Later." It is a form of payment mechanism that allows customers to buy goods or services in advance but pay for them in instalments over time, rather than paying the entire amount at the moment of purchase. Customers can spread the cost of their purchases across several weeks or months with BNPL, often with no interest charged if payments are completed on schedule. This can help customers afford larger purchases and manage their cash flow. BNPL services are typically provided by third-party companies who collaborate with retailers or merchants to provide the payment option at the point of sale.
Exploring the Growth Drivers of the USA Buy Now Pay Later Industry
There are various growth drivers in the Buy Now Pay Later industry in the United States. Several key factors have contributed to the rapid growth of the Buy Now Pay Later (BNPL) industry in the United States in recent years. Consumers are increasingly looking for payment methods that allow them to spread the expense of purchases out over time. BNPL services provide an appealing alternative to standard credit cards, which can have high interest rates and fees. Furthermore, the growth of e-commerce has been a major driver of the BNPL industry, as many online retailers accept BNPL as a payment method at the time of purchase. The COVID-19 epidemic has hastened the shift to online buying, which has increased demand for BNPL services. Also, Millennials and Gen Z consumers are more likely than previous age groups to utilize BNPL services because they are more comfortable with digital payments and prefer ease and flexibility in their purchase decisions. Overall, the BNPL industry in the United States is predicted to increase in the coming years, owing to these and other factors.
-01029545052023.jpg)
What challenges does the USA Buy Now Pay Later Market face?
While the USA Buy Now Pay Later (BNPL) market has grown rapidly, the industry faces a number of challenges. As the BNPL industry expanded, regulators became increasingly worried about potential consumer harm, such as exorbitant interest rates, hidden fees, and aggressive debt collection techniques. This has resulted in increasing industry monitoring and regulation, which may increase compliance costs and impair profitability. Some customers may not fully comprehend the terms and circumstances of BNPL services, resulting in unanticipated fees, interest charges, or debt collection procedures. This could harm BNPL providers' reputations and raise regulatory scrutiny. Overall, while the BNPL market in the United States has grown significantly, it is critical for providers to address these and other challenges in order to ensure long-term sustainability and profitability.
In what ways has the COVID-19 pandemic affected USA Buy Now Pay Later Market?
The COVID-19 epidemic has both accelerated and posed new hurdles to the BNPL market in the United States. As the pandemic progresses, it will be critical for BNPL providers to stay adaptable and sensitive to changing client requirements and habits. With physical store closures and a shift to internet purchasing during the epidemic, more consumers have turned to BNPL services to finance their purchases. The epidemic has resulted in an infusion of new BNPL market participants, including traditional lenders and credit card businesses. This has raised market competitiveness and led to additional opportunities for innovation and collaboration.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Product Category, By Application
|
| Regions covered | Midwest Region, Northeast Region, South Region, West Region
|
| Companies Covered | Affirm, Afterpay, American Express, Klarna, Pay Pal
|
Key Target Audience:
- Academic and Research Institutions
- BNPL Providers
- Government Agencies
- Industry Associations and Trade Groups
- Investors and Financial Institutions
- Merchant and Retailers
USA Buy Now Pay Later (BNPL) Market Segmentation:
1. By Product Category:
- USA Buy Now Pay Later Market Value Share and Forecast, By Product Category, 2023-2033
- Electronic Appliance
- Fashion and Personal Care
- Healthcare
- Kitchen Appliance
- Other Product Categories
2. By Application:
- USA Buy Now Pay Later Market Value Share and Forecast, By Application, 2023-2033
- Online
- POS
3. By Region:
- Midwest Region
- Northeast Region
- South Region
- West Region
Key Topics Covered in the Report:
- USA Buy Now Pay Later (BNPL) Market Size (FY’2023-FY’2033)
- Overview of USA Buy Now Pay Later Market
- Segmentation of USA Buy Now Pay Later Market By Product Category (Electronic Appliance, Fashion and Personal Care, Healthcare, Kitchen Appliance, Other Product Categories)
- Segmentation of USA Buy Now Pay Later Market By Application (Online, POS)
- Growth Analysis of USA Buy Now Pay Later Market
- Problems and Challenges in USA Buy Now Pay Later Market
- Competitive Landscape in the USA Buy Now Pay Later Market
- Impact of COVID-19 and Demonetization on USA Buy Now Pay Later Market
- Details on Recent Investment in USA Buy Now Pay Later Market
- Competitive Analysis of USA Buy Now Pay Later Market
- Key Players in the USA Buy Now Pay Later Market
- SWOT Analysis of USA Buy Now Pay Later Market
- USA Buy Now Pay Later Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the USA Buy Now Pay Later Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. USA Buy Now Pay Later Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in USA Buy Now Pay Later Market
7. USA Buy Now Pay Later Market, By Product Category (USD Million)
7.1. USA Buy Now Pay Later Market Value Share and Forecast, By Product Category, 2023-2033
7.2. Electronic Appliance
7.3. Fashion and Personal Care
7.4. Healthcare
7.5. Kitchen Appliance
7.6. Other Product Categories
8. USA Buy Now Pay Later Market, By Application (USD Million)
8.1. USA Buy Now Pay Later Market Value Share and Forecast, By Application, 2023-2033
8.2. Online
8.3. POS
9. USA Buy Now Pay Later Market Forecast, 2019-2033 (USD Million)
9.1. USA Buy Now Pay Later Market Size and Market Share
10. USA Buy Now Pay Later Market, By Product Category, 2019-2033 (USD Million)
10.1. USA Buy Now Pay Later Market Size and Market Share by Product Category (2019-2026)
10.2. USA Buy Now Pay Later Market Size and Market Share by Product Category (2027-2033)
11. USA Buy Now Pay Later Market, By Application, 2019-2033 (USD Million)
11.1. USA Buy Now Pay Later Market Size and Market Share by Application (2019-2026)
11.2. USA Buy Now Pay Later Market Size and Market Share by Application (2027-2033)
12. USA Buy Now Pay Later Market, By Region, 2019-2033 (USD Million)
12.1. USA Buy Now Pay Later Market Size and Market Share by Region (2019-2026)
12.2. USA Buy Now Pay Later Market Size and Market Share by Region (2027-2033)
12.3. Midwest Region
12.4. Northeast Region
12.5. South Region
12.6. West Region
13. Company Profile
13.1. Affirm
13.1.1. Company details
13.1.2. Financial outlook
13.1.3. Product summary
13.1.4. Recent developments
13.2. Afterpay
13.2.1. Company details
13.2.2. Financial outlook
13.2.3. Product summary
13.2.4. Recent developments
13.3. American Express
13.3.1. Company details
13.3.2. Financial outlook
13.3.3. Product summary
13.3.4. Recent developments
13.4. Klarna
13.4.1. Company details
13.4.2. Financial outlook
13.4.3. Product summary
13.4.4. Recent developments
13.5. Pay Pal
13.5.1. Company details
13.5.2. Financial outlook
13.5.3. Product summary
13.5.4. Recent developments
14. List of Abbreviations
15. Reference Links
16. Conclusion
17. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
