Americans Turning to BNPL for Essentials
- BNPL groceries trend 2025: More Americans now rely on Buy Now, Pay Later services to afford everyday essentials like groceries.
- According to Lending Tree’s latest survey, 25% of BNPL users are financing grocery purchases. This figure rose sharply from 14% in 2024.
- The findings show mounting pressure on consumers facing persistent inflation and high interest rates.
Missed Payments Are Increasing
- Late payments on BNPL loans are also rising.
- Lending Tree found 41% of users missed a payment over the past year. That’s up from 34% in the previous year.
- Most late payments were made within a week, but the trend is seen as troubling by financial experts.
Economic Stress Reflected in BNPL Use
- Matt Schulz, Lending Tree’s chief consumer finance analyst, noted that many Americans are struggling to stretch their budgets.
- He explained that high interest rates, inflation, and tariff worries are forcing people to seek alternative ways to manage spending.
- Schulz warned that while BNPL can be helpful short-term, it carries risks if used excessively.
Americans Stack Multiple BNPL Loans
- The Lending Tree survey also revealed that 60% of BNPL users have had multiple active loans at once.
- Nearly 25% said they juggled three or more BNPL loans at the same time.
- Consumers who fall behind on these loans often face steep fees, despite BNPL services typically offering interest-free plans.
BNPL’s Growing Role Sparks Concerns
- BNPL usage is spreading into areas once thought unlikely.
- Billboard reported that 60% of general admission tickets for Coachella were financed through BNPL.
- Meanwhile, DoorDash recently announced it would accept BNPL for food deliveries via Klarna.
- The move led to widespread jokes online, with many noting that Americans now finance even basic meals like burgers and burritos.
Signs of a Changing Economy
- Over the past few years, consumers remained strong, buoyed by a solid job market and rising wages.
- However, recent warnings from major companies like Walmart and Delta Airlines suggest cracks are forming.
- Sales forecasts have begun to fall short, hinting that American consumers are feeling the strain.
- Schulz believes the situation may worsen before it improves.
Source: NBC News
