A quarter of U.S. consumers are now financing groceries with buy-now, pay-later as economic pressures mount, survey says

[OnlinePoker]

Consumers are feeling the squeeze from economic uncertainty and are turning more to financing essential purchases like groceries. An April survey from Lending Tree shows an increase in Americans using buy-now, pay-later services for groceries—25% this year compared to 14% in 2024.

More Americans are taking advantage of financing options for essential purchases, the latest sign of mounting concern over the health of the economy. Consumers have increasingly turned to buy-now, pay-later (BNPL) services for groceries, according to data released by lending marketplace Lending Tree—and more of those shoppers are paying back those loans late.

One-quarter of shoppers have used BNPL for groceries, up from 14% who used the service a year ago, according to a Lending Tree survey of 2,000 American adults conducted in early April.

Meanwhile, 41% of respondents said they’ve paid back their loan late over the past year, though the vast majority have paid back the money in a week or less. Men, young people, and higher-income borrowers were more likely to make late payments.

https://finance.yahoo.com/news/quarter-u-consumers-now-financing-173011404.html

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What could possibly go wrong with that. I had heard about financing for fast food purchases in the past year, but not for actual groceries.

[Clouds Passing]

1. The userers are raring to go

[questionseverything]

2. This is terrifying, that 25% are so desperate for food they would turn to payday loans

I know 60% of Americans don’t have $1000. For an emergency but that 25% can’t eat w/o a high interest loan is mind boggling


Most are a long way from sororities and buying houses 🏡

[riversedge]

3. Yes, it is mindboggling--and sad. whow.