Many Gen Zers have rejected traditional credit in favor of new-age layaway programs, which are riskier than they may seem. As familiar as Americans are with the concept of credit, many of us, upon encountering a sandwich that can be financed in four easy payments of $3.
Link: The 'Buy Now, Pay Later' Bubble Is About to Burst - The Atlantic
Seriously? “About” to burst? I think the bubble has burst at this point and we are just seeing the “end game” play out. @HendrikLaubscher
I am glad that I am not the only person thinking that the bubble has bursted.
And then we have the absurdity that you can pay for qcommerce grocery delivery or food takeaway in installments.
Deliveroo (UK) now accepts payment by instalments using klarna. I’ll let that sink in.
Context: Deliveroo is one of the 3 major takeaway food delivery operators in the UK (competing with Just Eat and the smaller UberEats), and also offers grocery qcommerce via partnerships with CoOp (national “blue” CoOp, unsure if Deliveroo links to any regional “green” CoOps), and Waitrose.
[Both CoOp and Waitrose are at the pricier end of the UK grocery market, see my other recent post on this.]