More Americans tapping buy now, pay later services for groceries ‘shows the height of personal desperation,’ Harvard researcher says

With food prices at historic highs, more consumers are turning to buy now, pay later services for their weekly essentials.
“Once people start stretching out grocery payments it shows the height of personal desperation,” says Marshall Lux, a fellow at the Harvard Kennedy School.

As prices rises, Americans are increasingly finding new ways to make ends meet.

But with some necessary purchases, such as groceries, there are fewer options that don’t involve taking on debt.

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That makes the option to pay later — through companies such as Klarna, Zip, Zilch, Affirm and Afterpay — look increasingly attractive.

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