Grandparents Using BNPL to Purchase Baby Items says Clearpay

grandparents bnpl

According to new data from Buy Now Pay Later (BNPL) company Clearpay, the UK arm of Afterpay, there has been a significant increase in Baby Boomer and Generation X age groups using BNPL services to purchase baby products in the United Kingdom.

Baby Boomers are defined as those between 60 and 78 years old. Gen X are those 44 – 59 years old. Typically Baby Boomers are grandparents and the Gex Xers are new parents.

Interesting since 57% of most BNPL users in the UK are under 39 years old.

What are some of the baby items being purchased via Clearpay? This is what Clearpay found;

  • 165% increase in strollers sales
  • 228% for moses baskets
  • 239% for baby carriers

Grandparents Using Clearpay

What did Clearpay’s survey reveal? Here are some interesting stats;

  • Grandparents contribute £750 towards the first year of their grandchild’s life.
  • 45% of grandparents said that the UK cost of living is making hard for parents.
  • 20% of grandparents spend more on baby items the parents themselves.
  • 82% of grandparents said they had spent money on their grandchild because they wanted to treat the baby.
  • 18% of grandparents aid were asked to contribute by parents.

According to the Opinium survey commissioned by Clearpay, 18% of respondents are influenced by social media to buy baby products they see online. This percentage increases to 33% among younger parents aged 18 to 24.

Grandparents frequently find themselves financially supporting their grandchildren either due to love or requests from children who are new parents, especially amidst the challenges posed by high UK living costs.

Clearpay’s survey involved over 2,000 parents and grandparents in March. Klarna noted last year that around one in eight of its customers in the UK are aged over 60.

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