The buy now, pay later retail revolution and its effect on young families

As the retail sector in the UK aims to cope with economic uncertainty and the rise of e-commerce, it has been fascinating to see how the buy now, pay later concept has proven to be increasingly popular amongst a variety of shops.

From clothing brands offering customers a chance to delay their payments a full month, to furniture retailers offering special beds on finance deals, it seems as though the concept of paying immediately for goods is quickly becoming old hat.

Such payment methods proved to be increasingly popular over the festive period as families on a tight budget attempted to spread the cost of Christmas over a number of months. It was a particular temptation for families with young children too- every mother out there wants to make Christmas a magical time for her little ones. For many, this meant taking advantage of this very modern way of buying if it was deemed necessary.

Despite warnings about how this kind of ability to obtain credit instantly could often be accompanied by hidden costs, it seems that we are all starting to find that the buy now, pay later deal gives the consumer much more flexibility.

Much of retail excitement about these payment schemes comes from the technological innovation offered by exciting payment brands like Klarna.

This Swedish payment company has teamed up with companies as far-ranging as Size? to Asos to allow customers a try-before-you-buy way to sample clothing without having to pay for goods until 30 days after purchase.

However, there have been warnings about how such payment schemes could prove harmful, as a consumer’s credit score could be badly affected if they failed to pay within the 30 day period. Again it’s we devoted mothers who can end up being hurt by this. We all know how hard it is to be as organized as we’d like when children are involved- a tummy bug here, a hospital appointment there and before you know it the day is over, or another month has whizzed by! The business world isn’t always too sympathetic to the chaos of single motherhood!

It’s interesting to see how such buy now, pay later schemes are starting to offer a degree of flexibility over a range of smaller goods as well.

Whilst finance schemes have long been associated with everything from cars to the wide range of beds found at the Bedstar website, it seems that digital innovation is helping us enjoy spreading payments on an increased selection of consumer goods

We have already seen how media forms like videos and albums have been transformed thanks to brands like Netflix and Spotify allowing customers to pay monthly fees for their entertainment services.

And it seems that the concept of a one-off payment is becoming increasingly outdated as many more brands aim to encourage customer loyalty by spreading payments over a series of weeks, months and even years.

So whether it’s an item of fashionable clothing or a new bed, it looks like we can all enjoy much more flexibility on our payment option in the future. The thing to remember is that it’s important to stay on top of it all. For mums, it can be a great way to finance a happy family life and make sure the kids aren’t missing out on anything… as long as you remember to stay organized!


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