"Buy now, pay later" trend surges among Thai shoppers

The “buy now, pay later” has become trending among Thai shoppers, as new generation shoppers prefer installment payment to access goods without waiting for cash.

According to digital market insight firm NIPA, many Thai shoppers prefer buying goods through social commerce activities, in which installment payments accounted for 40% of total purchases in 2023. Most installment payments have been made for purchasing fashion, electronic and lifestyle products.

The company expects installment payments to expand along with social commerce growth. Live streaming and attractive promotions are expected to draw interest among new generations and consumers in other provinces.

NIPA added that several e-commerce platforms like Shopee and Lazada have adopted the buy now, pay later function to facilitate customers, which significantly boosted their sales during shopping promotion campaigns.Meanwhile, Krungsri Business Empowerment advised SMEs to embrace opportunities from the buy now, pay later trend. 

A campaign which offers 0% interest on instalment payments helped customers purchase goods, it said, adding that social commerce and live streaming could help boost sales further.The “buy now, pay later” trend not only reflects the behaviour of new-generation consumers, but also represents a significant opportunity for SMEs to increase sales and gain market advantage.

Krungsri Business Empowerment also advised SMEs to study customer behaviour and adjust their business strategy to ensure sustainable growth in the digital era.

(2025/02/18-00:00)