American adults with low or middle income were more likely to use BNPL than adults with higher incomes. This is according to an annual household survey in the United States, that asked about how and why consumers would be using the alternative payment option. Eight percent of respondents who had an income of 100,000 U.S. dollars or more used buy now, pay later. This was noticeably different from all other income levels, where 14 percent of respondents said they used BNPL. The source observed major difference between races, with Black and Hispanic users being significantly more common than White or Asian users.
Share of respondents who said they used buy now, pay later (BNPL) in the United States in 2023, by age, gender, income, and race
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Federal Reserve. (May 22, 2024). Share of respondents who said they used buy now, pay later (BNPL) in the United States in 2023, by age, gender, income, and race [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/1421852/bnpl-user-demographics-usa/
Federal Reserve. "Share of respondents who said they used buy now, pay later (BNPL) in the United States in 2023, by age, gender, income, and race." Chart. May 22, 2024. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/1421852/bnpl-user-demographics-usa/
Federal Reserve. (2024). Share of respondents who said they used buy now, pay later (BNPL) in the United States in 2023, by age, gender, income, and race. Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/1421852/bnpl-user-demographics-usa/
Federal Reserve. "Share of Respondents Who Said They Used Buy Now, Pay Later (Bnpl) in The United States in 2023, by Age, Gender, Income, and Race." Statista, Statista Inc., 22 May 2024, https://www.statista.com/statistics/1421852/bnpl-user-demographics-usa/
Federal Reserve, Share of respondents who said they used buy now, pay later (BNPL) in the United States in 2023, by age, gender, income, and race Statista, https://www.statista.com/statistics/1421852/bnpl-user-demographics-usa/ (last visited November 21, 2024)
Share of respondents who said they used buy now, pay later (BNPL) in the United States in 2023, by age, gender, income, and race [Graph], Federal Reserve, May 22, 2024. [Online]. Available: https://www.statista.com/statistics/1421852/bnpl-user-demographics-usa/
