Impact mechanism of 0 interest installment repayment on teenage consumption decision-making

Abstract

This essay examines the impact of Buy Now Pay Later (BNPL) schemes on the purchasing behavior of Generation Zs reffering to people born between 1995 and 2009, especially teenagers. While analyzing strategies used by platforms like AfterPay to attract consumers, and explaining why the Buy Now Pay Later (BNPL) service have gained popularity among young consumers, leading to significant changes in their consumption behavior and financial decision-making. The analysis examines how society and evolving economic trends affects teenagers’ spending habits, encouraging impulsive purchases and potentially leading to debt accumulation. Furthermore, the essay examines the psychological and social factors that drives Buy Now Pay Later (BNPL) adoption among young people, as well as the implications for their financial literacy and responsibility. Ultimately, this study aims to provide insights into the broader effects of  Buy Now Pay Later (BNPL) on the financial well-being of adolescents and propose recommendations for promoting responsible consumption in this demographic field.