Electronics & Media Is the Category Where Buy Now Pay Later Shoppers Use the Service the Most
Article by Cihan Uzunoglu | May 08, 2023
In a survey conducted by eCommerceDB and Statista, online shoppers in Germany were asked about their shopping preferences regarding the Buy Now, Pay Later (BNPL) services. What do the results of the survey reveal about the top product categories where BNPL shoppers in Germany prefer to use the service? Read on to see what the survey findings uncover.
Kicking things off with the overall results, the data suggests that Electronics & Media is the most popular category with 57% of BNPL shoppers* having used the service to buy products in this category within the past year. The top category is followed by Fashion at 48%, Food & Personal Care and Furniture & Appliances both at 28%, and Toys, Hobby & DIY at 16%. Having looked at the general results, let’s go deeper and see what role demographics play in this context.
It is no secret that consumers’ gender affects their shopping choices. That’s also the case when it comes to BNPL preferences of shoppers in Germany. As the data shows, male BNPL shoppers are more likely to use the service to buy Electronics & Media products, while female BNPL shoppers were found to be more likely to use BNPL services to buy Fashion products.
In addition to gender, the age of BNPL shoppers is a significant factor in their use of the service. According to the survey results, BNPL shoppers under the age of 35 are most likely to purchase Fashion products through BNPL. As for shoppers older than 54, they were found to be more likely than others to use BNPL services for buying products from the Furniture & Appliances category, as well as Toys, Hobby & DIY.
It wouldn’t be a complete analysis without discussing the survey results in the light of living conditions of BNPL shoppers in Germany. When it comes to household income of BNPL shoppers, research shows that shoppers from households with an annual disposable household income of less than €30,000 are more likely than others to purchase Toys, Hobby & DIY products on installment plans. On the note of households, there is more than only income to consider here. It is worth mentioning that BNPL users from households with more than 5 persons were found to be more likely than others to purchase Fashion, Furniture & Appliances and Toys, Hobby & DIY products via BNPL.
Just as household size, size of the cities where BNPL shoppers live also has an impact on their preferences for using the service. Findings suggest that those from cities with less than 100,000 inhabitants are more likely to purchase Toys, Hobby & DIY products than other BNPL users in Germany. On the other hand, users from cities with more than 500,000 inhabitants were found to be more likely to purchase Fashion products through BNPL providers.
In conclusion, the survey results suggest that Electronics & Media is the most popular product category purchased through BNPL, followed closely by Fashion. The survey also reveals that age, gender, household income and size, as well as city size, are significant factors influencing BNPL usage. Overall, the survey results provide valuable insights for retailers and BNPL providers looking to tailor their services to meet consumer needs and preferences.
*: Online shoppers in Germany who have used a ‘Buy Now, Pay Later’ service in the past 12 months.