Nearly half of Europeans adopt payment facilities – Barometer & Study > Retail

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BNPL Buy now pay later online shopping concept. Businessmen using a computer to

In their second European study, FLOA and the Kantar Institute highlight the growing importance of flexible payment options in the consumption habits of Europeans. At a time when controlling budgets is becoming essential in the face of inflation and when the demand for better quality or more durable products is increasing, flexible payment options are establishing themselves as a new consumption tool.

43% of Europeans say they use payment facilities such as payment in instalments and/or deferred payment. The study reveals that French, Spanish and Portuguese consumers seem to be the most adept at paying in installments: nearly one in three consumers use them on a recurring basis. That is an average of 32% of the population of these three countries. In Germany and Austria deferred payment appears to be its preferred side with more than one in two consumers (59.5%) declaring that they use it on a recurring basis.

European consumers looking for more diversity in payment solutions

According to the study carried out among Europeans by FLOA and the Kantar Institute, 30% of consumers consider means of payment to be an important selection criterion when choosing a brand, almost as much as the notoriety of the brand itself (32%). In France, 7 out of 10 consumers seem ready to change brand to benefit from payment solutions in installments or deferred. In addition, 50% of European consumers surveyed consider thelack of payment facilities as a barrier to purchase, whether online or in physical stores. Finally, for 6 out of 10 Europeans, the obligation to download a mobile application to finalize a purchase is a criterion for abandoning the basket.

Payment facilities allow you to meet unforeseen expenses

For nearly half of Europeans surveyed, installment payment options are a solution for cope with price increases: 44% plan to use these solutions to better manage their budget in the current economic situation. This trend seems even more marked in countries where the BNPL functionality is common, notably in France where 55% of consumers use it, in Spain (58%) and in Italy (62%). More than half of users of these payment options (58%) believe that they promote more responsible consumption. This impression is all the more pronounced in Italy and Germany with 64% of respondents.

Finally, the study shows that Europeans use installment payment options thoughtfully. They are mainly used to meet unforeseen expenses, such as household appliances for 39% of respondents where the household expenses (31%). Installment payment options also appear popular for “pleasure” expenses, such as the purchase of high-tech products (38% of Europeans) or travel (35%). In France and Spain, they are mainly used to finance travel, with 44% and 40% of users respectively.

Method :

Kantar study for FLOA “Consumption trends and uses of payment in Europe” conducted in November 2022. It analyzes nine countries: France, Spain, Belgium, Italy, Portugal, Germany, Netherlands, Austria and Luxembourg.

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