Summary
Gen Z is increasingly relying on “buy now, pay later” (BNPL) services for holiday shopping, with spending projected to rise 11.4% this year, totaling $18.5 billion.
These services appeal to younger consumers with limited credit histories but can lead to overextension, as they lack centralized reporting and encourage overspending.
Experts warn of accumulating fees, particularly when BNPL plans are tied to credit cards.
With inflation and rising credit card debt already burdening Gen Z, consumer advocates caution that these services may worsen financial instability despite their convenience.
It isn’t a black and white issue though. There is more ethical and less ethical, but less ethical tends to be cheaper and easier.
The entire idea that individuals are responsible for these systemic issues is propaganda meant to distract from the rich who actually cause the problems
The responsibility is shared. Temu wouldn’t exist if nobody bought from them. Yes, people need clothes, but nobody is forced to buy them from a fast fashion company that is generating enormous amounts of waste. 🤷
Systemic problem can only be fixed by systemic changes, no amount of fixating on individuals will ever fix a systemic issue