Macy’s is bringing a “buy now, pay later” service to their site to appeal to young shoppers ahead of the holiday shopping season. We told you that more brands are ramping up their BNPL services, and Macy’s is the latest major retailer to get into the trend, with an investment in Klarna. Customers will now be able to select the “buy now, pay later” option as they checkout of Macy’s official site. The move comes just ahead of the holiday shopping season, potentially to attract young shoppers whose budgets are tighter this year. BNPL is increasingly becoming a favorite payment method of Gen Z as interest in traditional credit cards decreases. YPulse found that 22% of 13-39-year-olds have used BNPL payment installment services already, and 29% are interested in using them. (Tearsheet, Sourcing Journal)
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