Dublin, Aug. 27, 2021 (GLOBE NEWSWIRE) -- The "South Africa Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook - 75+ KPIs on Buy Now Pay Later Trends by End-Use Sectors, Operational KPIs, Retail Product Dynamics, and Consumer Demographics" report has been added to ResearchAndMarkets.com's offering.
The challenging economic scenario is pushing South Africans to seek for solutions which could enable them to pay later without having to pay high credit interest fees. The country went through an economic contraction in Q2'20 due to COVID-19 and unemployment rate stood high at over 23%. With declining income levels, there is a shift from expensive high-end credit cards to debit cards due to customers fearing debt during and post pandemic.
Given this scenario, the BNPL service is expected to be instrumental in the coming years, offering flexible payment options for customers. PayJustNow was the country's first BNPL Company and enables customers to pay over three months, in three interest-free instalments . Payflex is another service offered in the country which allows customers to pay only 25% of the purchase price while buying goods and the rest of the payment over 6-weeks at no additional cost .
According to the Q4 2020 BNPL Survey, BNPL payment in the country is expected to grow by 52.5% on annual basis to reach US$ 268.7 million in 2021.
Medium to long term growth story of BNPL industry in South Africa remains strong. The BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 18.2% during 2021-2028. The BNPL Gross Merchandise Value in the country will increase from US$ 176.2 million in 2020 to reach US$ 868.6 million by 2028.
This report provides a comprehensive view on size and structure, industry dynamics, market trends, consumer attitude and behaviour, and competitive landscape in Buy Now Pay Later industry in South Africa. The report focuses on data-centric analysis of Buy Now Pay Later market dynamics to help companies understand business and investment opportunities along with risks.
It details market opportunities across 40 market segments in Buy Now Pay Later for the period 2019-2028 and identifies opportunities in South Africa. It captures essential KPIs such as Gross Merchandise Value, Volume, and Average Value Per Transaction across end-use segments.
Scope
South Africa BNPL Market Size and Spending Pattern
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
South Africa Buy Now Pay Later Spend Analysis by Channel: Market Size and Forecast
- Online Channel
- POS Channel
South Africa Buy Now Pay Later in Retail Shopping: Market Size and Forecast
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
South Africa Buy Now Pay Later in Home Improvement: Market Size and Forecast
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
South Africa Buy Now Pay Later in Leisure & Entertainment: Market Size and Forecast
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
South Africa Buy Now Pay Later in Healthcare and Wellness: Market Size and Forecast
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
South Africa Buy Now Pay Later in Education: Market Size and Forecast
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
South Africa Buy Now Pay Later in Automotive: Market Size and Forecast
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
South Africa Buy Now Pay Later Analysis by Consumer Attitude and Behaviour
- Buy Now Pay Later Sales Uplift by Product Category
- Buy Now Pay Later Spend Share by Age Group
- Buy Now Pay Later Gross Merchandise Share by Income
- Buy Now Pay Later Gross Merchandise Value Share by Gender
- Buy Now Pay Later Adoption Rationale Gross Merchandise Value Analysis
For more information about this report visit https://www.researchandmarkets.com/r/m733vq
