The new all-encompassing payment method, 'Buy Now, Pay Later' enables more people to realise their dream of buying luxury products without credit checks. BNPL
For many, buying a luxury good marks a milestone in their professional life. This is especially true for the new generation of spenders who have just started their careers, and making that big purchase signifies a transition from youth to adulthood. The penchant for the consumption of luxury in this burgeoning group is one that many brands cannot afford to ignore.
For luxury brands aiming to penetrate the youth market, BNPL is the perfect solution. Using the BNPL scheme allows these spenders to spread the cost of their purchase over several instalments, which can range from three to six months depending on the provider. This allows younger buyers with less disposable income to finance their purchases in parts and be in a better position to control their money.
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