Back-to-School Shopping: More Parents Using Buy Now, Pay Later

Nearly half (45 percent) of U.S. consumers plan to use buy now, pay later (BNPL) services for back-to-school shopping this year, up from 39 percent last year, according to a survey conducted by e-commerce marketing company Omnisend. Buy now, pay later services allow shoppers to split purchases into smaller installments to be paid at later dates.  

U.S. consumers are not alone in their decision to use BNPL for back-to-school shopping: 47 percent of Brits and 38 percent of Canadians are also planning to use BNPL this year.

“Buy Now, Pay Later was once associated with splurges and impulse purchases. Today, it’s increasingly being used for routine expenses,” Marty Bauer, Omnisend, said in a press release. “Consumers are using flexible payment options to manage everyday cash flow, not just unexpected costs.”

Back-to-school shoppers are also expecting to pay more this year – 44 percent of respondents plan to spend more than $500 this year and 19 percent anticipate more than $1000. Footwear, clothing and electronics, such as laptops and calculators, are expected to be the biggest expenses. 

“Whether parents shop online or in-store, most are trying to keep things simple by buying everything from a single retailer or platform,” said Bauer. “That means fewer trips, less time spent comparing prices, and easier access to the discounts and rewards stores offer during the back-to-school season.”