Gross value of Italian Buy Now Pay Later merchandise is expected to reach $25.9 billion by 2028

DUBLIN, November 2, 2022 /PRNewswire/ — The “Italy Buy Now Pay Later Business and Investment Opportunities – 75+ KPIs on Buy Now Pay Later Trends by End-Use Sectors, Operational KPIs, Market Share, Retail Product Dynamics, and Consumer Demographics – Q3 2022 Update” report has been added to from ResearchAndMarkets.com offer.

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According to the publisher, BNPL payments in the country are expected to increase by 52.8% on an annual basis to reach US$6,254.5 million in 2022.

Mid to Long Term Growth Story of the BNPL Industry in Italy stay strong. BNPL payment adoption is expected to grow steadily over the forecast period, registering a CAGR of 26.8% during 2022-2028. The gross value of BNPL’s goods in the country will increase from US$4,094.1 million in 2021 to reach US$25,988.0 million by 2028.

The Buy It Now, Pay Later (BNPL) industry continues to grow in Italy regularly. The presence of national and global players, such as Scalapay and Afterpay (known as Clearpay in Europe), is driving the adoption of the payment method by Italians. While the pandemic outbreak and subsequent shift to online shopping has accelerated BNPL adoption among shoppers nationwide, there is plenty of room for growth for domestic and global players in Italy.

According to a March 2022 Clearpay report, 56.1% of Italians who do not know the payment method are interested in a payment option that allows them to pay for their purchases in installments. This shows that BNPL companies need to increase their investments to raise consumer awareness of the availability of deferred payment services, as the demand is there in the Italian market. With domestic players raising major rounds of investment in Italythe publisher expects part of the investment to build consumer awareness in the short to medium term.

Over the next three to four years, the publisher expects the boom in online shopping to continue to support the growth of the BNPL payment method. Moreover, the payment method is also expected to make inroads in italy travel and tourism sector from a short to medium term perspective, a trend that is rapidly gaining momentum worldwide.

National BNPL companies raise financing rounds to invest in product development and branding

The Italian BNPL industry is still in its early stages of development and is expected to show strong long-term growth. Therefore, national BNPL companies are looking to strengthen their position to capitalize on the growth of the market. As a result, these companies raise funding rounds to invest in product development and branding. For instance,

  • In May 2022Scalapay, one of BNPL’s leading local startups, announced that the company had raised $27 million into an extended Series B round, bringing its total Series B funding to more than 500 million US dollars. In particular, the company raised US$497 million in February 2022. The company plans to use the funding round to further strengthen its product development efforts and brand image in the country. The ItalyNew York-based BNPL focuses on e-commerce platforms, allowing online shoppers to split their purchases into installments.

As the market continues to grow, the publisher expects more companies and startups to raise funding rounds to further strengthen their position in the market, which is expected to see strong growth over the next three to four months. coming years.

BNPL suppliers expand their presence in Italy through strategic collaboration with online marketplaces

To further increase the adoption of their BNPL product among Italian online shoppers, the companies enter into strategic collaborations with online marketplaces in the country. For instance,

  • In July 2022Clearpay, the AustraliaBNPL provider, announced that the company has entered into a strategic partnership with Postalmarket marketplace to provide BNPL payment method to online shoppers nationwide. This strategic collaboration will allow Italian shoppers to split their purchases into multiple interest-free installments while driving online market revenue and sales growth by Italy.

The publisher expects BNPL providers to continue partnering with online and in-store retailers over the next three to four years as the popularity of deferred payment services continues to grow among Italians. .

Tour operators launch deferred payment services for commuters in Italy amid growing demand

Globally, the demand for the BNPL payment method has seen a surge in the travel and tourism industry. This has led many travel-focused companies to launch deferred payment services. In particular, similar trends are visible in Italy, where tour operators are launching the BNPL option for commuters in the country. For instance,

  • In July 2022, Trenord, the regional passenger operator in Lombardy, has announced the launch of its BNPL functionality, which allows commuters to purchase tickets using the deferred payment option. The company notably launched the service in partnership with Scalapay, one of the main providers of BNPL in the country.

Over the next three to four years, the publisher expects more travel-focused companies to launch BNPL services for commuters and travelers in Italyfurther supporting the growth of the industry.

Scope

This report provides an in-depth, data-driven analysis of the Buy Now, Pay Later industry in Italy. Below is a summary of the main market segments:

Italy BNPL Market Size and Spending Structure

  • Gross Commodity Value Trend Analysis

  • Analysis of trends in the average value per transaction

  • Trading volume trend analysis

Italy Buy Now Pay Later Operational KPIs

  • Revenue from buy-it-now and pay-later, 2019 – 2028

  • Buy Now Pay Later Share by Revenue Segments

  • Buy Now Pay Later Merchant Commission, 2019 – 2028

  • Buy now, pay later, missed payment fee revenue, 2019 – 2028

  • Buy Now Pay Later Pay Now and Other Revenues, 2019 – 2028

  • Accounts Buy Now Pay Later, 2019 – 2028

  • Buy Now Pay Bad Debt Later, 2019 – 2028

Italy Buy Now Pay Later Market Share Analysis by Key Players

  • (Klarna, ScalePay, Mash and Domec JV, Afterpay, SplittyPay)

Italy Buy Now Pay Later Spend Analysis by Channel: Market Size and Forecast

  • online channel

  • POS channel

Italy Buy now, pay later in retail: market size and forecast

  • Gross Commodity Value Trend Analysis

  • Analysis of trends in the average value per transaction

  • Trading volume trend analysis

Italy Buy Now, Pay Later in Home Improvement: Market Size and Forecast

  • Gross Commodity Value Trend Analysis

  • Analysis of trends in the average value per transaction

  • Trading volume trend analysis

Italy Buy Now Pay Later in Leisure & Entertainment: Market Size and Forecast

  • Gross Commodity Value Trend Analysis

  • Analysis of trends in the average value per transaction

  • Trading volume trend analysis

Italy Buy Now, Pay Later in Healthcare and Wellbeing: Market Size and Forecast

  • Gross Commodity Value Trend Analysis

  • Analysis of trends in the average value per transaction

  • Trading volume trend analysis

Italy Buy Now Pay Later in Other: Market Size and Forecast

  • Gross Commodity Value Trend Analysis

  • Analysis of trends in the average value per transaction

  • Trading volume trend analysis

Italy Buy Now Pay Later Analysis by Consumer Attitude and Behavior

  • Buy now, pay later Increased sales by product category

  • Buy now Pay later Split spend by age group

  • Buy now, pay later Share of gross merchandise by revenue

  • Buy now, pay later Share of gross value of goods by gender

  • Buy Now Pay Later Rationale for Adoption Gross Goods Value Analysis

Reasons to buy

  • In-depth understanding of Buy Now Pay Later market dynamics: Understand market opportunities and key trends along with forecast (2019-2028). Understand market dynamics with essential KPIs such as gross commodity value, volume, and average value per trade.

  • Overview of Opportunities by End-Use Sectors – Obtain market dynamics by end-use sectors to assess emerging opportunities in various end-use sectors.

  • Develop market-specific strategies: identify growth segments and target specific opportunities to formulate BNPL’s strategy; assess key market-specific trends, drivers, and risks in the BNPL industry.

  • Gain insights into consumer attitude and behavior: Drawing on proprietary survey results, this report identifies and interprets key Buy Now, Pay Later KPIs, including spend by age, gender and income level.

  • Market share by key players

For more information on this report, visit https://www.researchandmarkets.com/r/9icwze

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