Oct 24, 2023

News provided by Share this article Share toX This comprehensive report offers an in-depth data-centric analysis of the Buy Now Pay Later (BNPL) industry, providing valuable insights into market opportunities and potential risks across a diverse range of retail categories. With over 75 key performance indicators (KPIs) tailored to the country level, this report offers a comprehensive understanding of the dynamic landscape of the BNPL market. It covers critical aspects such as market dynamics, size, forecasts, and market share statistics. The report breaks down these opportunities by categorizing them based on business models, sales channels (offline and online), and distribution methods. Additionally, it offers a snapshot of consumer behavior and the dynamics of retail spending in Australia. KPIs are presented in both value and volume terms, enabling a thorough comprehension of the market dynamics at play. In Australia, the BNPL industry has enjoyed favorable conditions for growth. However, it now faces regulatory challenges, with discussions about potential regulation under the National Consumer Credit Protection Act. High-interest rates and rising living costs have also impacted BNPL firms' operations and consumers' ability to repay loans. While short-term growth may occur as consumers turn to BNPL options during the holiday season, the market is expected to face ongoing pressure due to macroeconomic and regulatory factors. The Australian government is considering several options for regulating the BNPL industry, including affordability checks, partial inclusion under the Credit Act, or full regulation alongside credit card providers. This regulatory landscape remains uncertain. Despite these challenges, BNPL providers are seeking opportunities to expand, particularly in the travel and tourism sector. Collaborations with travel companies like Jetstar and Expedia are emerging to cater to budget-conscious travelers. Moreover, consumers are increasingly using BNPL options to cover essential expenses like groceries and petrol bills, further boosting demand for BNPL products in the short term. However, this usage also raises concerns about the revolving door of debt for consumers. In conclusion, this report offers a comprehensive overview of the BNPL industry in Australia, covering market dynamics, potential regulatory changes, and trends in consumer behavior and retail spending. Scope Afterpay Gross Merchandise Value Trend Analysis Average Value Per Transaction Trend Analysis Transaction Volume Trend Analysis