Leaders.com
  • Business
  • Leadership
  • Wealth
  • Master Classes
  • Business
    • Entrepreneurs
    • Executives
    • Marketing and Sales
    • Social Media
    • Innovation
    • Women in Business
  • Leadership
    • Personal Growth
    • Company Culture
    • Public Speaking
    • Productivity
    • Hiring
    • Social Issues
    • Leaders
  • Wealth
    • Investing
    • Cryptocurrency
    • Retirement
    • Venture Capital
    • Loans and Borrowing
    • Taxes
    • Markets
    • Real Estate
  • Master Classes
Loans and Borrowing

Increasingly shoppers are using buy now, pay later for groceries (Photo by Jon Super/Xinhua via Getty Images)

By Tyler Hummel Leaders Staff

Tyler Hummel

Tyler Hummel

Tyler Hummel is a news writer for Leaders Media. He was the Fall 2021 College Fix Fellow and Health Care...

Full bio


Learn about our editorial policy

Apr 19, 2023

Paying Tomorrow For Groceries Today 

A new study shows that, as a result of the new buy now, pay later trend (BNPL), a large percentage of groceries are being purchased on installment plans—potentially causing large amounts of debt. 

Key Details

  • BNPL  services have become a popular option for making major purchases, including clothing, furniture, computers, gaming consoles, travel expenses, and outdoor events like sports games and concerts. 
  • A new study finds that 21% of BNPL services are for groceries, Loan Tree reports. 
  • The report found this statistic surprising, further noting that 27% of BNPL loans are used by users struggling with weekly expenses. 
  • Nearly half of Americans have used BNPL apps, Bloomberg reports. 
  • 32% of BNPL users, who earn more than $100,000 annually, use BNPL as a “bridge” while living paycheck to paycheck. 
  • The Consumer Financial Protection Bureau reports that the BNPL industry has grown into a $24.2 billion industry, as of 2021.

Why It’s Important

BNPL services can be very useful, particularly for large or extravagant purchases, but their popularity for common household items is a sign of the times. Inflation is running high at 4.98%, interest rates have slowed down the economy, and the labor market has begun to slow, with food prices suffering as a result of high prices and supply chain stressors. 

Several companies like Pizza Hut and Zilp began offering BNPL pizzas last year, which was negatively received by critics as companies offering the chance to go into debt to finance a pizza delivery. 

“High-interest rates are a double-edged sword. On the one hand, it will encourage more consumers to embrace BNPL over other forms of credit like credit cards because the interest-free rate periods of BNPL become more attractive in a high-rate environment. On the other hand, it puts a squeeze on BNPL providers raising money to lend from the debt market,” Carta Worldwide COO Richard Wray tells Fintech Global. 

Notable Quotes 

Several young women spoke with Bloomberg about their experiences and motives for using BNPL for groceries, and they share similar experiences. “I have to buy groceries anyway, and it feels awful to pay $250 at a time. Now I have more control over my finances, and it’s nice to know I have a little more in my account,” says 31-year-old Amber Kincade.

“I can’t just buy groceries out of pocket like I used to. It helps for a week or two, but then you’re stuck with a grocery bill for a couple of months,” says 34-year-old administrative assistant and single mother Faith Smith. “I’m worried. I’m living paycheck to paycheck even though I shouldn’t be,” she says. “Using these services is the only means of survival.” 

Home / News / Paying Tomorrow For Groceries Today 
Share
FacebookTweetEmailLinkedIn

Related Stories

Wall Street Makes $100 Billion Bet on Weight Loss Pills

by PJ Howland Leaders Staff
Investing

Oct 25, 2023

Ozempic

Investor optimism around a potential blockbuster obesity drug by Structure Therapeutics led to soaring share prices across the weight-loss pharma sector.

Key Details

  • Structure Therapeutics' stock jumped 35% after reporting positive results from early clinical trials of a once-daily weight-loss pill.
  • The experimental drug helped participants lose about 5% of their body weight over one month without side effects, although there are concerns with Ozempic.
  • Analysts predict the global anti-obesity medication market could reach sales of $100 billion by 2030, up from $71 billion currently.
  • With promising growth prospects, investors are betting on companies developing new weight loss drugs like Structure, Eli Lilly, Novo Nordisk, and Pfizer.

Go deeper

FacebookTweetEmailLinkedIn

Seattle Takes The Crown For Advanced Tech Talent

by PJ Howland Leaders Staff
Tech

Oct 24, 2023

Seattle tech talent

Seattle has emerged as the metro area with the most advanced tech talent, beating out tech hubs like San Francisco and Silicon Valley.

Key Details

  • According to a new ranking by the Burning Glass Institute, Seattle has the highest proportion of advanced tech workers compared to other cities with similarly sized tech workforces.
  • The ranking evaluated 60 million high-paying, in-demand tech job postings and histories to identify cities with cutting-edge roles like AI and cybersecurity rather than legacy tech positions.
  • With tech giants Amazon and Microsoft headquartered in Seattle, the city edged out the San Francisco Bay Area, Boston, Austin, and Raleigh on the list.
  • The report found that demand for software developers and IT support specialists has declined over the past five years as companies seek more specialized tech talent.

Go deeper

FacebookTweetEmailLinkedIn

More Americans Can’t Keep Up With Car Payments

by Colin Baker Leaders Staff
Loans and Borrowing

Oct 23, 2023

car loans, used cars

A record number of Americans are behind on their car loan payments as higher interest rates and prices weigh on consumers.

Key Details

  • According to data from Fitch Ratings, 6.11% of car loans were at least 60 days delinquent in September, the highest since tracking began in the early 2000s.
  • Some interest rates on used cars can rise to as much as 21%, according to Bankrate.
  • Soaring prices and rising interest rates are squeezing consumers, making it difficult for some to keep up with their auto loans.

Go deeper

FacebookTweetEmailLinkedIn
Chevron Gas Deal
Markets

Oct 23, 2023

Chevron Makes $53 Billion Deal Amid Surging Gas Prices

by PJ Howland Leaders Staff
nike logo
Company Culture

Oct 20, 2023

Nike to Require More In-Office Days From Employees

by Colin Baker Leaders Staff
blue collar workers
Retirement

Oct 20, 2023

Explaining The ‘C+ Grade’ Retirement Ecosystem in The United States

by PJ Howland Leaders Staff

Recent Articles

Hiring

Nov 1, 2023

Learn the Winning Answers to the Most Common Phone Interview Questions

Come to your next phone interview fully prepared

Personal Growth

Oct 30, 2023

85 Quotes on Self-Love to Boost Your Self-Esteem

Don’t fall into the trap of harsh self-criticism

Company Culture

Oct 27, 2023

What is a Sabbatical? Your Ticket to Restful Growth and Meaning

Sabbaticals can benefits both employees and businesses

  • Business
  • Leadership
  • Wealth
Join the Leaders Community

Get exclusive tools and resources you need to grow as a leader and scale a purpose-driven business.

Subscribing indicates your consent to our Terms & Conditions and Privacy Policy

Leaders.com
  • Privacy Policy
  • About
  • Careers
  • Cookie Policy
  • Terms
  • Disclosures
  • Editorial Policy
  • Member Login

© 2025 Leaders.com - All rights reserved.

Search Leaders.com