Consumers’ purchasing behavior has changed, and these platforms are gaining popularity!

I believe that all sellers are familiar with Buy Now , Pay Later (BNPL) , which allows consumers to repay the full amount in installments when purchasing goods online.

Scalapay, an Italian startup dedicated to building a platform that supports BNPL and related functions, has recently received $48 million in financing to continue building the technology on its platform, expand its services in Europe, and begin to enter the United States.

Affected by the epidemic, consumers at home are more inclined to shop online, and the use of e-commerce has surged. At the same time, still under the influence of the epidemic, the financial situation of many consumers is not stable, which has led to the increasing popularity of services that help them extend payment time and enable them to flexibly mobilize funds .

When it comes to online shopping, one of the biggest challenges consumers face is the unknown nature of the product, which means they cannot try or test it before placing an order .

There is a huge business opportunity behind this demand of online consumers. BlackCart, a startup that vigorously develops a "try before you buy" platform, recently completed a US$8.8 million Series A financing.

On the platform, customers can enjoy the service of free home delivery of goods without paying an advance payment. After the "trial period", customers only need to pay if they choose to keep the goods.

BlackCart says that by integrating try-before-you-buy services into their websites, sellers are typically able to enjoy a 24% increase in conversion rates , a 51% increase in average order value, and a 27% increase in profits .

The impact of COVID-19 and the growing popularity of e-commerce have spawned many new shopping platforms and marketplaces, such as sustainable shopping platforms .

Just last month, Farleigh Hungerford launched Farleigh.io, a sustainable social shopping platform targeting Generation Z and selling popular, sustainably designed products.

In recent years, consumers have become increasingly aware of sustainable development. 81% of consumers strongly believe that companies should help improve the environment, and more consumers are beginning to shift toward "green" purchasing behaviors .

In summary, products that meet consumer needs are undoubtedly more popular in the market, and consumers' purchasing behaviors and habits are constantly changing. Sellers should also pay more attention to consumer trends and make timely adjustments.

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consumer

Shopping Platform

Buy now, pay later

Try before you buy

Sustainability