Singapore Buy Now Pay Later Market report 2021: BNPL Payments are Expected to Grow by 52.1% – Press Release
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Dublin, Aug. 27, 2021 (GLOBE NEWSWIRE) — The “Singapore Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook – 75+ KPIs on Buy Now Pay Later Trends by End-Use Sectors, Operational KPIs, Retail Product Dynamics, and Consumer Demographics” report has been added to ResearchAndMarkets.com’s offering.
BNPL trend is ramping up in Singapore allowing online customers to purchase products instantly without having them pay full upfront cost. Since most of the BNPL services are offered at zero percent interest customers are willing to make purchases instantly without having to pay extra.
Some BNPL service providers include Rely Installment which enables customers to break up a purchase into three interest-free monthly payments. The service is available in stores such as Secret Lab, Qoo10 and Omnidesk. Atome, a Singapore based startup, launched BNPL services in July 2020 . Additionally, ride-hailing company Grab has begun offering PayLater Instalments.
In September 2020, hoolah, Singapore-based startup, extended its BNPL services to physical stores, having launched the service for e-commerce platforms in 2018. The in-store BNPL service allows customers to scan a QR code using the hoolah mobile app at a store, and enter the total order value. It then divides the total order value into three monthly payments and automatically deducts money accordingly. Hoolah claims that its website visitors augmented by 500% in the past six months, with a sevenfold rise in total transactions made through the platform.
According to the Q4 2020 BNPL Survey, BNPL payment in the country is expected to grow by 52.1% on annual basis to reach US$ 564.0 million in 2021.
Medium to long term growth story of BNPL industry in Singapore remains strong. The BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 18.4% during 2021-2028. The BNPL Gross Merchandise Value in the country will increase from US$ 370.8 million in 2020 to reach US$ 1840.0 million by 2028.
This report provides a comprehensive view on size and structure, industry dynamics, market trends, consumer attitude and behaviour, and competitive landscape in Buy Now Pay Later industry in Singapore. The report focuses on data-centric analysis of Buy Now Pay Later market dynamics to help companies understand business and investment opportunities along with risks.
It details market opportunities across 40 market segments in Buy Now Pay Later for the period 2019-2028 and identifies opportunities in Singapore. It captures essential KPIs such as Gross Merchandise Value, Volume, and Average Value Per Transaction across end-use segments.
Scope
Singapore BNPL Market Size and Spending Pattern
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
Singapore Buy Now Pay Later Spend Analysis by Channel: Market Size and Forecast
- Online Channel
- POS Channel
Singapore Buy Now Pay Later in Retail Shopping: Market Size and Forecast
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
Singapore Buy Now Pay Later in Home Improvement: Market Size and Forecast
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
Singapore Buy Now Pay Later in Leisure & Entertainment: Market Size and Forecast
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
Singapore Buy Now Pay Later in Healthcare and Wellness: Market Size and Forecast
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
Singapore Buy Now Pay Later in Education: Market Size and Forecast
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
Singapore Buy Now Pay Later in Automotive: Market Size and Forecast
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
Singapore Buy Now Pay Later Analysis by Consumer Attitude and Behaviour
- Buy Now Pay Later Sales Uplift by Product Category
- Buy Now Pay Later Spend Share by Age Group
- Buy Now Pay Later Gross Merchandise Share by Income
- Buy Now Pay Later Gross Merchandise Value Share by Gender
- Buy Now Pay Later Adoption Rationale Gross Merchandise Value Analysis
For more information about this report visit https://www.researchandmarkets.com/r/58hac2
CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
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