Baby Boomers Embrace Alternative Payment Options for Gift Purchases

  • 75% of baby boomers plan to use pay-later services this holiday season
  • Gen Z usage of credit card installments increased by 46%
  • Card-linked installments offer financial flexibility and rewards for boomers
  • 90% of retailers believe card-linked installments boost customer acquisition and retention

A recent study by Splitit reveals that baby boomers are the most likely generation to use split-payment services for holiday purchases. Gen Z follows closely behind with a 46% increase in credit card installment usage. Boomers prefer card-linked installments due to financial flexibility and rewards, while retailers see an increase in customer acquisition and retention.

Factuality Level: 8
Factuality Justification: The article provides accurate information about the usage of alternative payment options across different generations during the holiday season. It cites a study by Splitit and quotes the CEO, Nandan Sheth, to support its claims. The article also includes relevant statistics and insights from another study conducted by Splitit and PYMNTS Intelligence.
Noise Level: 3
Noise Justification: The article provides relevant information about the growing trend of alternative payment options across different generations, but it could benefit from more context and analysis on why this trend is happening and how it affects the broader economy or consumer behavior. It also lacks evidence to support some claims.
Financial Relevance: Yes
Financial Markets Impacted: No
Financial Rating Justification: The article discusses the growing trend of alternative payment options, specifically credit card installments and BNPL (Buy Now, Pay Later) services being used by various generations during holiday purchases. It highlights the increasing usage of these options among different age groups, including boomers who prefer credit card installments due to rewards and loyalty points. The study also shows that retailers believe card-linked installments boost customer acquisition and retention.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification:

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