Learn How ‘Buy Now, Pay Later’ is Transforming Online Shopping

Processes Responsible for Transforming the Shopping Experience

Buy now pay later comes with the same user experience, flexibility, and options that Millennials like the most. In addition, the flowing points will help you understand why more people are shifting towards this new purchasing method. 

Robust Customer Experience

The shopping experience is the key for the retailers to get hold of these demanding customers. The Millenials are more focused on the experience they get from purchasing anything online. They tend to expect more from the buyers in terms of flexibility and uncomplicated delivery. This generation tends to browse more and settle only to those sites that offer excellent customer experience in purchasing even the smaller items. 

Retailers use loyalty programs, reward schemes, and bundle discounts on an attractive platform to hold their customers. But when the buy now pays later shines at the checkout menu, the experience becomes more beautiful for the customers. They get a good feeling, and the chances of re-purchase increase manifold. 

Interest-Free Installments

GEN-X used credit cards to buy most things, but the higher interest rates and income disparity have complicated things for the Millennials. The Millennials are suffering from financial turmoil and higher educational debts. A study has found that younger people are not getting credit cards because of higher interest rates and fewer days of installment.  

The interest-free installment option in buy now pay later saves the Millennials from the fear of extra charges and high-interest rates. For example, when a person tries to buy a $60 product, it will be easy to pay $20 every month without any hassle. The interest-free installments are changing the whole shopping scenario and are increasing sales even in hard times.

Simple Return Policy

Another thing that is changing the whole structure of the eCommerce market is easy to return product policy of the online stores. When you want to buy a garment, you want to touch the fabric and look at how well you can carry it. The buy now pays later option allows them to buy the product of their choice and pay the amount later in days to come.