Speaking of Losing: Buy Now, Pay Later

Or as the pundits say, BNPL.

BNPL is what losing looks like. If you believe that the problem with your business (which means you are already losing, by the way) is that customers can't pay for your merchandise today, the solution isn't to give away product and get paid next year.

BNPL and Credit cause a whole series of interrelated and completely awful outcomes. I know this to be true ... having worked for Eddie Bauer (owned by a credit crazed parent named Spiegel) and Nordstrom, it's a different environment when the credit people enter the room. They don't care about what you sell. They care about 29% interest and capturing data. They want to turn a $400 handbag into a $466 handbag at twelve payments of $38.80 each.

Strong Analytics Hint:  Analyze the long-term value of a customer who buys a $400 handbag for $466 spread out over twelve months ... see if that customer behaves differently than a customer who pays $400 for a handbag. This is where a BNPL mouth breather says "yeah but the customer paying $400 for the handbag is paying Visa interest so why shouldn't the brand get the interest instead of Visa?" The reason, dear Lemonhead, is that over five years you slowly build a customer base of credit dependent customers who owe both Visa and you interest, those customers prefer a specific portion of your merchandise assortment which means your merchants slowly cater to credit-dependent buyers instead of those who love your products/merchandise ...  your "brand" has been harmed. Take a look at the evolution of the merchandising assortment of credit buyers vs. third party payment (i.e. Visa) buyers ... it's different. Seriously ... do the work.

Losing companies manipulate payments.

Winning companies sell merchandise customers are ready to pay for today.