Affirm Research Reveals Impact of 0% APR Financing Ahead of Holiday Season
Affirm's latest survey reveals significant consumer trends ahead of the 2024 holiday season, focusing on the impact of 0% APR financing options. Nearly half of Americans (48%) say these options influence their purchasing decisions, with top benefits including saving on interest (28%), affording larger purchases (19%), and easier budgeting (17%).
The survey shows varying preferences across generations and product categories. GenZ favors 0% APR for clothing, while millennials prefer it for travel experiences. Despite economic concerns, 70% of Americans feel equally or more confident about managing holiday expenses compared to last year. Notably, 40% plan to start holiday shopping earlier in 2024, with September being a important month for GenZ and millennial shoppers.
Il nostro ultimo sondaggio di Affirm svela tendenze significative dei consumatori in previsione della stagione natalizia 2024, ponendo l'accento sull'impatto delle opzioni di finanziamento a 0% APR. Quasi la metà degli americani (48%) afferma che queste opzioni influenzano le loro decisioni d'acquisto, con i principali vantaggi che includono il risparmio sugli interessi (28%), la possibilità di effettuare acquisti più grandi (19%) e una gestione più semplice del budget (17%).
Il sondaggio evidenzia preferenze diverse tra le generazioni e le categorie di prodotto. GenZ preferisce il 0% APR per l'abbigliamento, mentre i millennial lo preferiscono per le esperienze di viaggio. Nonostante le preoccupazioni economiche, il 70% degli americani si sente altrettanto o più fiducioso nella gestione delle spese natalizie rispetto all'anno scorso. È interessante notare che il 40% prevede di iniziare lo shopping natalizio prima nel 2024, con settembre che si rivela un mese importante per gli acquirenti della GenZ e dei millennial.
La última encuesta de Affirm revela tendencias significativas de los consumidores en preparación para la temporada navideña de 2024, enfocándose en el impacto de las opciones de financiamiento al 0% APR. Casi la mitad de los estadounidenses (48%) afirma que estas opciones influyen en sus decisiones de compra, destacando beneficios como el ahorro en intereses (28%), la posibilidad de realizar compras más grandes (19%) y una mejor gestión del presupuesto (17%).
La encuesta muestra preferencias variadas entre generaciones y categorías de productos. La GenZ prefiere el 0% APR para la ropa, mientras que los millennials lo prefieren para experiencias de viaje. A pesar de las preocupaciones económicas, el 70% de los estadounidenses se siente igual o más seguro sobre la gestión de los gastos navideños en comparación con el año pasado. Notablemente, el 40% planea comenzar las compras navideñas antes en 2024, siendo septiembre un mes importante para los compradores de la GenZ y los millennials.
Affirm의 최신 설문조사는 2024년 연휴 시즌을 앞두고 소비자 트렌드를 크게 보여주며, 0% APR 금융 옵션의 영향을 중심으로 다룹니다. 거의 절반의 미국인(48%)이 이러한 옵션이 구매 결정에 영향을 미친다고 응답했으며, 주요 장점으로는 이자 절약(28%), 큰 구매를 감당할 수 있는 능력(19%), 그리고 더 쉬운 예산 관리(17%)가 있습니다.
설문조사는 세대 및 제품 카테고리별로 다양한 선호도를 보여줍니다. GenZ는 의류에 대해 0% APR을 선호하고, 밀레니얼은 여행 경험에 대해 선호합니다. 경제적 우려에도 불구하고, 70%의 미국인은 작년과 비교해 연휴 지출 관리에 대해 동등하거나 더 자신감을 느끼고 있습니다. 특히 40%가 2024년 크리스마스 쇼핑을 더 일찍 시작할 계획이며, 9월은 GenZ 및 밀레니얼 쇼핑객에게 중요한 달로 나타났습니다.
Le dernier sondage d'Affirm révèle des tendances significatives chez les consommateurs à l'approche de la saison des fêtes 2024, en se concentrant sur l'impact des options de financement à 0% APR. Près de la moitié des Américains (48%) affirment que ces options influencent leurs décisions d'achat, avec les principaux avantages comprenant des économies sur les intérêts (28%), la possibilité d'achats plus importants (19%) et une gestion budgétaire plus facile (17%).
Le sondage montre des préférences variées selon les générations et les catégories de produits. La GenZ privilégie le 0% APR pour les vêtements, tandis que les millennials le préfèrent pour les expériences de voyage. Malgré les préoccupations économiques, 70% des Américains se sentent aussi confiants, voire plus, quant à la gestion de leurs dépenses de vacances par rapport à l'année dernière. Notamment, 40% prévoient de commencer leurs achats de vacances plus tôt en 2024, septembre étant un mois important pour les acheteurs de la GenZ et des millennials.
Die neueste Umfrage von Affirm zeigt bedeutende Verbrauchertendenzen vor der Feiertagssaison 2024 und konzentriert sich auf die Auswirkungen von 0% APR Finanzierungsoptionen. Fast die Hälfte der Amerikaner (48%) sagt, dass diese Optionen ihre Kaufentscheidungen beeinflussen, wobei die Hauptvorteile das Sparen von Zinsen (28%), die Möglichkeit, größere Käufe zu tätigen (19%) und eine einfachere Budgetierung (17%) umfassen.
Die Umfrage zeigt unterschiedliche Präferenzen zwischen den Generationen und Produktkategorien. GenZ favorisiert 0% APR für Kleidung, während Millennials es für Reiseerlebnisse bevorzugen. Trotz wirtschaftlicher Bedenken fühlen sich 70% der Amerikaner gleich oder sogar sicherer, was die Verwaltung ihrer Feiertagsausgaben im Vergleich zum Vorjahr betrifft. Bemerkenswerterweise plant 40%, im Jahr 2024 früher mit dem Einkaufen für die Feiertage zu beginnen, wobei der September ein wichtiger Monat für GenZ und Millennials ist.
- 48% of consumers are influenced by 0% APR options in their purchasing decisions
- 70% of Americans feel confident about managing holiday expenses
- 40% of respondents plan to start holiday shopping earlier in 2024
- GenZ shoppers report the highest confidence levels (50%) for holiday shopping
- None.
Insights
This survey reveals significant consumer trends that could impact retail strategies and financial services. 48% of consumers are influenced by 0% APR options, indicating a strong market demand. The breakdown by purchase categories (42% for large purchases, 28% for electronics, 25% for essentials) suggests retailers could benefit from offering such financing across various product lines.
Generational differences in preferences, with GenZ favoring 0% APR for clothing and millennials for travel, provide valuable segmentation insights for targeted marketing. The 70% confidence level in managing holiday expenses and 40% planning early shopping indicate a potentially strong holiday season, despite economic concerns. Retailers should prepare for early September shopping, especially targeting GenZ and millennial consumers.
The growing preference for 0% APR financing could significantly impact the financial services sector. While beneficial for consumers, this trend may pressure traditional credit card companies and lenders to adapt their offerings. For Affirm and similar fintech companies, this presents a growth opportunity, potentially leading to increased market share and revenue.
However, the sustainability of 0% APR models needs scrutiny. These offers often rely on merchant fees or backend interest structures, which could face pressure in a competitive market. The 40% early shopping trend suggests a potential shift in cash flow timing for retailers, which could affect their financial planning and inventory management strategies. Overall, this trend indicates a shift in consumer finance behavior that could reshape the retail credit landscape.
Nearly half of Americans say the availability of
The Power of
Affirm’s survey of 2,000 Americans revealed that nearly half of respondents (
This growing preference among consumers towards
-
Large, One-Time Purchases: More than
40% of consumers (42% ) are likely to consider0% APR offers for significant purchases like furniture or appliances, making it a key factor in managing major expenses. -
Electronics: Nearly
30% of consumers (28% ) are inclined to use0% APR offers for electronics, such as laptops or mobile devices, reflecting a shift towards interest-free payment options across a larger swath of categories. -
Everyday Essentials:
25% of consumers view0% APR offers as a valuable tool for purchasing everyday essentials, such as groceries or home supplies.
Consumer preferences also vary by generation when it comes to
“Consumers are being more strategic with their purchases, turning to
Consumer Holiday Shopping Trends and Sentiment
Affirm’s research also explored how consumers are feeling about and preparing for the 2024 holiday shopping season. Despite concerns about the macroeconomic environment, the majority of Americans (
Getting a head start on shopping may be why many consumers are feeling confident in their ability to budget and manage finances this holiday season. According to Affirm’s survey,
“Whether through advanced planning or
To shop for exclusive
Survey methodology:
This random double-opt-in survey of 2,000 general population Americans was commissioned by Affirm between June 20 and June 24, 2024. It was conducted by market research company Talker Research, whose team members are members of the Market Research Society (MRS) and the European Society for Opinion and Marketing Research (ESOMAR).
About Affirm
Affirm’s mission is to deliver honest financial products that improve lives. By building a new kind of payment network – one based on trust, transparency and putting people first – we empower millions of consumers to spend and save responsibly, and give thousands of businesses the tools to fuel growth. Unlike most credit cards and other pay-over-time options, we show consumers exactly what they will pay up front and never charge any late or hidden fees.
Consumers who want to pay with Affirm can select it as a payment option at checkout, use the Affirm Card, or shop in the Affirm App. The Affirm App is also home to exclusive
Follow Affirm on social media: LinkedIn | Instagram | Facebook | X.
Payment options through Affirm are subject to eligibility, and are provided by these lending partners: affirm.com/lenders. CA residents: Loans by Affirm Loan Services, LLC are made or arranged pursuant to California Finance Law license 60DBO-111681.
AFRM-A
View source version on businesswire.com: https://www.businesswire.com/news/home/20240912931188/en/
Press:
Affirm
Andrea Hackett
press@affirm.com
Source: Affirm
FAQ
What percentage of Americans are influenced by 0% APR options when making purchases according to Affirm's survey?
What are the top benefits consumers see from 0% APR financing, as per Affirm's research?
How do GenZ and millennial consumers plan to approach holiday shopping in 2024, according to Affirm's survey?
What percentage of Americans feel confident about managing holiday expenses in 2024 compared to the previous year?
