As the cost of living rises, many people are finding it harder to make ends meet. The economic uncertainty has caused money worries to spike, and as a result, shoppers are making different financial decisions. Some are putting the brakes on their spending and tightening their budgets while others are taking advantage of ‘buy now, pay later’ options.
Studies have shown that a large percentage of shoppers are feeling the pressure of rising costs. In fact, almost half of Americans who have felt the financial pinch are stretching their budgets as much as possible. This means they are making mindful choices when it comes to their spending, such as choosing less expensive items or delaying purchases until they are able to get a better deal.
However, there’s also a growing population of shoppers who are taking advantage of the ‘buy now, pay later’ options that are being offered by many retailers. This type of arrangement can be incredibly appealing to those with low credit scores or limited funds, as it allows them to make a purchase without having to commit to a large upfront cost.
The popularity of ‘buy now, pay later’ options illustrates the changing nature of shoppers today. With more people feeling the pinch of rising prices, they’re looking for ways to stretch their budget and take advantage of more flexible payment terms. This could be a sign of more people turning to credit cards and other forms of borrowing down the line as their financial difficulties continue to increase.
No matter the financial situation, it’s vital that shoppers make smart decisions when it comes to their purchases. Sticking to a budget and researching deals for the best prices can help shoppers save money, while buying now and paying later can be a good option for those who need to spread out the cost over time.