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Want to Satisfy Gen Z and Millenials? Offer Buy Now, Pay Later

Boomers like to say that younger generations complain too much and are too weak. However, following the Great Recession and a global pandemic, they’re facing an affordability crisis. This affects everyone, but Gen Z and Millenials are just coming into financial independence and are struggling to build wealth while covering their living costs. These unlucky generations love Buy Now, Pay Later — here’s why.

Softens the blow

We’ve established that things are particularly hard for these two generations. Offering a BNPL option softens the blow to their budget by letting them pay for it as and when they can afford it. Instead of one big blow to their bank balance, BNPL means they can pay in affordable chunks.


Because of automation, BNPL is a fuss-free option for younger shoppers. During the checkout process, a couple of extra steps are added and the work is done. The payment will simply happen when the agreed upon date arrives.

No hassle or fuss is required.

Taking financial control

Rather than falling into debt or not spending at all, BNPL lets Gen Z and Millennials take control of their spending. This is even more appealing because most BNPL offerings are interest-free. So there’s no additional cost and they are able to plan their spending better.

Keeping on trend

These days, things happen fast. There’s a new trend from TikTok almost every day and the social media generations are determined to keep up. BNPL means they are able to buy what they need to stay on trend but only pay when their paychecks arrive.

BNPL also means shoppers can get fast gratification without having to think about the money side of things in the moment.

Bridging a gap

With the affordability crisis in mind, getting a credit card when there’s no certainty of things picking up is scary. BNPL can act as a bridge for younger spenders who want to spend money they don’t have but aren’t ready to commit to a credit card. BNPL offers a gentler option where buying now can happen without paying now, but the payment date is set for the near future so no huge debt is racked up.

Why retailers need to offer this option

Now that it’s clear that this option is great for Gen Z and Millenial shoppers, we need to talk about why it’s great for retailers like you.

The best way to sell a product is to address customer objections. Your advertising can reach potential customers on any given day, but they may not be able to afford your products on any given day. In this situation, the customer objection is that they can’t afford your product today. BNPL addresses this objection.

Additionally, offering BNPL is fast becoming the norm and it can secure you some loyalty. 48% of BNPL-lovers say they won’t shop at retailers who don’t offer it. This means that if you offer BNPL and your competitor doesn’t, you’ve got the edge.