As Prices Skyrocket, More Americans Are Turning to Short-Term Loans to Pay for Food

As Prices Skyrocket, More Americans Are Turning to Short-Term Loans to Pay for Food

With grocery prices skyrocketing, Gen Z consumers are depending on buy now, pay later services and struggling with late payments. JulPo / Getty ImagesKey PointsRising grocery prices are driving more consumers to use Buy Now, Pay Later (BNPL) loans to afford food, with 25% of users reporting they’ve used the service for groceries — up from 14% the previous year.Gen Z is the leading demographic using BNPL for grocery purchases, with nearly half o…

Over 50% of Americans Use Buy Now, Pay Later for Essentials. Learn the Risks and How to Break the Cycle

The modern grocery shopping experience has taken a troubling turn with the option to split your $78 bill into “four easy payments.” When did we start financing essentials like bananas and bread? New research from PartnerCentric reveals 52% of Americans use buy now, pay later (BNPL) services, with 31% using them for groceries. Let that sink in—many of us are taking out loans for food that’ll be gone before the first payment is due. It’s a trend t…