China Buy Now Pay Later Markets Report 2022: BNPL Trends by End-Use Sectors, Operational KPIs, Market Share, Retail Product Dynamics, and Consumer Demographics – Forecast to 2028 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “China Buy Now Pay Later Business and Investment Opportunities – 75+ KPIs on Buy Now Pay Later Trends by End-Use Sectors, Operational KPIs, Market Share, Retail Product Dynamics, and Consumer Demographics – Q1 2022 Update” report has been added to ResearchAndMarkets.com’s offering.

According to the Q4 2021 BNPL Survey, BNPL payment in China is expected to grow by 52.7% on annual basis to reach US$ 83562.5 million in 2022.

Medium to long term growth story of BNPL industry in China remains strong. The BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 26.3% during 2022-2028. The BNPL Gross Merchandise Value in the country will increase from US$ 54705.7 million in 2021 to reach US$ 338658.7 million by 2028.

Over the last few quarters, there has been a surge of interest in BNPL products among consumers in China. While the deferred payment industry is still at a nascent stage, it is poised to record significant growth over the next four to eight quarters. A few of the factors that are fueling the perfect storm for the growth of the BNPL sector include the cashless society, huge e-commerce market, and young population.

The Chinese BNPL market is primarily held by big technology firms such as Ant Group. However, as the Chinese Government continues to crack down on these big firms, the publisher expects new and modern-day firms to emerge in the BNPL sector over the next four to eight quarters. With strong consumer demand the overall need for the BNPL product in the Chinese market, the publisher expects the industry to record robust growth from the short to medium-term perspective.

Fundraising activities are rising in the Chinese BNPL market

With the expected growth in the Chinese BNPL sector over the next four to eight quarters, BNPL firms are raising funds to capitalize on the high growth potential and expanding market share.

• In December 2021, Ant Group-owned consumer finance arm announced that the firm is raising US$3.5 billion to boost its growth in the BNPL sector. Notably, the firm announced that the capital increase would allow it to advance more credit to consumers in the country over the next few quarters. This will subsequently assist the firm in further increasing its market share in the region.

The publisher expects more BNPL firms to raise funding rounds in China over the next four to eight quarters, which will further intensify innovation and competition in the Chinese deferred payment industry from the short to medium-term perspective.

Automotive companies are offering pay later option to attract consumers in China

As the popularity of the BNPL payment method continues to grow among consumers in the country, more and more businesses are offering consumers flexible payment solutions to boost sales and growth in China.

• In November 2021, Tesla, one of the leading and most valuable electric vehicle manufacturers, announced that the firm is allowing consumers in the country to buy a Tesla without any upfront cost. While it is not exactly a BNPL payment option, the firm is offering consumers a zero-payment installment plan to take a Tesla home.
• This move from the firm at a time when Tesla is trying to boost its sales figure in the country. With this payment scheme launch in China, the firm has made it easier for consumers in the country to buy its cars, which is thereby expected to boost its sales figure from the short to medium-term perspective.

Overseas BNPL companies are expanding their reach in the Chinese BNPL market

Amid the growing demand and the high-growth potential offered by the Chinese BNPL industry, firms including pureplay BNPL platforms and traditional banking players are turning to the BNPL sector in China.

• Singapore-based BNPL firm Atome is looking to expand its presence in the Chinese deferred payment industry. Since launching its services in Mainland China in September 2020, the firm has rapidly expanded to cover Tier I and Tier II cities across several regions in the country. Moreover, the firm has partnered with 1,500 local and international brands across all the markets it operates in, some of which include big names such as New Balance, Tissot, and Nike, among others.
• Atome has expanded its operations in nine markets across Asia, which include countries such as Singapore, Indonesia, Vietnam, the Philippines, and Mainland China. As of November 2021, the firm has more than 20 million registered users using the BNPL platform across Asia.

Scope

China BNPL Market Size and Spending Pattern

• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

China Buy Now Pay Later Operational KPIs

• Buy Now Pay Later Revenues, 2019 – 2028
• Buy Now Pay Later Share by Revenue Segments
• Buy Now Pay Later Merchant Commission, 2019 – 2028
• Buy Now Pay Later Missed Payment Fee Revenue, 2019 – 2028
• Buy Now Pay Later Pay Now & Other Income, 2019 – 2028
• Buy Now Pay Later Accounts, 2019 – 2028
• Buy Now Pay Later Bad Debt, 2019 – 2028

China Buy Now Pay Later Market Share Analysis by Key Players

• Tencent
• JD Finance
• Alipay
• Huabei
• Baitiao
• Happay
• AsiaPay
• Atome
• Splitit
• UnionPay International
• LexinFintech
• Afterpay
• Fen Fu

China Buy Now Pay Later Spend Analysis by Channel: Market Size and Forecast

• Online Channel
• POS Channel

China Buy Now Pay Later in Retail Shopping: Market Size and Forecast

• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

China Buy Now Pay Later in Home Improvement: Market Size and Forecast

• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

China Buy Now Pay Later in Leisure & Entertainment: Market Size and Forecast

• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

China Buy Now Pay Later in Healthcare and Wellness: Market Size and Forecast

• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

China Buy Now Pay Later in Other: Market Size and Forecast

• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

China Buy Now Pay Later Analysis by Consumer Attitude and Behaviour

• Buy Now Pay Later Sales Uplift by Product Category
• Buy Now Pay Later Spend Share by Age Group
• Buy Now Pay Later Gross Merchandise Share by Income
• Buy Now Pay Later Gross Merchandise Value Share by Gender
• Buy Now Pay Later Adoption Rationale Gross Merchandise Value Analysis

For more information about this report visit https://www.researchandmarkets.com/r/2tamgh

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