Robust Customer Experience
The shopping experience is the key for the retailers to get hold of these demanding customers. The Millenials are more focused on the experience they get from purchasing anything online. They tend to expect more from the buyers in terms of flexibility and uncomplicated delivery. This generation tends to browse more and settle only to those sites that offer excellent customer experience in purchasing even the smaller items.
Retailers use loyalty programs, reward schemes, and bundle discounts on an attractive platform to hold their customers. But when the buy now pays later shines at the checkout menu, the experience becomes more beautiful for the customers. They get a good feeling, and the chances of re-purchase increase manifold.
Interest-Free Installments
GEN-X used credit cards to buy most things, but the higher interest rates and income disparity have complicated things for the Millennials. The Millennials are suffering from financial turmoil and higher educational debts. A study has found that younger people are not getting credit cards because of higher interest rates and fewer days of installment.
The interest-free installment option in buy now pay later saves the Millennials from the fear of extra charges and high-interest rates. For example, when a person tries to buy a $60 product, it will be easy to pay $20 every month without any hassle. The interest-free installments are changing the whole shopping scenario and are increasing sales even in hard times.
