"Get it now for three easy payments of $19.99." The first infomercial was for a commercial product of Vitamix blender, and was recorded in 1949 broadcast in 1950.
And from the infomercial, the concept of paying in installments was born, but does it still work today? Of course, it does.
And better than ever thanks to the technology and the increasing ease of use of Ecommerce in general.
According to World Pays global payments report, the buy now, pay later industry is set to double in size by 2023. Meaning that 3% of all Ecommerce transactions globally will use a buy now, pay later tool by 2023.
This is especially big in Europe, the USA, Canada, and Australia, but it is definitely taking over in a global phenomenon.
So let's dive into this thriving market to understand what is in store for the future of buy now, pay later tools.
(0:00) The origin and growth of buy now pay later industry
(1:15) Financial technology, consumer trust, and clarifying buy now pay later tools
(3:20) The four p's of marketing and infomercial pricing strategy
(6:02) Sponsor: Leaflet for pricing testing
(6:51) The psychology and appeal of purchasing with buy now pay later tools
(8:35) Mia Bernad on Sezzle, consumer budgeting, and Sezzle's origin story
(12:28) Sezzle's marketplace, customer behavior, and benefits
(16:28) Patrick Campbell on optimizing payment options and customer segments
(19:13) Testing payment options for better conversion rates
(19:55) The future of buy now pay later in ecommerce
(22:03) Conclusion and upcoming episodes overview
And from the infomercial, the concept of paying in installments was born, but does it still work today? Of course, it does.
And better than ever thanks to the technology and the increasing ease of use of Ecommerce in general.
According to World Pays global payments report, the buy now, pay later industry is set to double in size by 2023. Meaning that 3% of all Ecommerce transactions globally will use a buy now, pay later tool by 2023.
This is especially big in Europe, the USA, Canada, and Australia, but it is definitely taking over in a global phenomenon.
So let's dive into this thriving market to understand what is in store for the future of buy now, pay later tools.
(0:00) The origin and growth of buy now pay later industry
(1:15) Financial technology, consumer trust, and clarifying buy now pay later tools
(3:20) The four p's of marketing and infomercial pricing strategy
(6:02) Sponsor: Leaflet for pricing testing
(6:51) The psychology and appeal of purchasing with buy now pay later tools
(8:35) Mia Bernad on Sezzle, consumer budgeting, and Sezzle's origin story
(12:28) Sezzle's marketplace, customer behavior, and benefits
(16:28) Patrick Campbell on optimizing payment options and customer segments
(19:13) Testing payment options for better conversion rates
(19:55) The future of buy now pay later in ecommerce
(22:03) Conclusion and upcoming episodes overview
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