March 8 2024- The September 2023 report titled “Installment Plans Becoming a Key Part of Shopper’s Toolkit,” conducted by PYMNTS Intelligence in collaboration with Splitit, is based on a survey of over 2,500 U.S. consumers. The study aims to comprehend the utilization of installment plans for everyday purchases. The findings indicate a significant adoption of installment plans, particularly among Gen Z consumers, with 65% utilizing such payment methods. Notably, 45% of Gen Z respondents are using installment plans for grocery purchases, highlighting a growing trend of spreading payments over time for common necessities.
Nearly Half of Gen Z Installment Plan Users Leverage These for Groceries
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