A new report shows that half of British Gen Z who have used “Buy Now, Pay Later” services regret their decision. The “Buy Now, Pay Later” (BNPL) trend has been growing fast, and while the concept has been around for years, more brands and retailers are jumping on board in a play for young shoppers. Klarna recently partnered with U.K. luxury department store Harrods to help “hesitant” luxury shoppers splurge without breaking the bank. YPulse’s WE shopping and retail research found that 29% of 13-39-year-olds have already used a BNPL service and 34% more are interested. But according to a study from Barclays Partner Finance, half of 18-24-year-olds who have used these services wish they hadn’t, and two in five report feeling overwhelmed by repayments. (Charged Retail)
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