Stat: US consumers turn to buy now, pay later for groceries amid recession fears

US – One in four Americans are now using buy now, pay later (BNPL) services to finance groceries, up from 14% last year, according to a recent LendingTree survey. The rise reflects mounting economic pressure and growing consumer concern over a potential recession. 

‘It’s pretty clear that as people struggle with inflation and other kinds of economic uncertainty, people are looking to things like BNPL loans to help them extend their budget,’ said Matt Schulz, LendingTree’s chief consumer finance analyst. 

While BNPL was once used primarily for luxury purchases, Schulz noted, ‘now people are looking at it for things like groceries and food delivery’. 

The survey of 2,000 US adults also found that 41% of users paid back their loans late in the past year, although most repaid within a week. Young people, men and high earners were most likely to miss payments. 

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