Americans Are Using Klarna To Buy Goods More Than Before

The Usage of BNPL Services Surges by 40% in Early 2023, According to Adobe Analytics

The demand for BNPL (buy now pay later) services has skyrocketed by 40% in the first two months of 2023, as reported by Adobe Analytics. In these challenging times, cash-strapped shoppers are increasingly turning to BNPL options, even for purchasing basic necessities like groceries.

Data from Adobe Analytics shows that services like Klarna have experienced a significant surge in popularity during 2023. As per the company's 2022 Buy Now, Pay Later Survey, a staggering 95% of shoppers express confidence in making their next payment on time, with 65% indicating that they are more likely to make purchases from businesses offering BNPL.

Max Lillard, a senior finance analyst at Capterra, emphasizes the importance of responsible payment offerings, particularly since BNPL users are mainly younger and minority groups who may lack a credit history. Properly implemented BNPL options can empower customers to access financial opportunities that were previously restricted and, in some cases, help them build credit.