Tik Tok has reportedly banned buy now pay later (BNPL) advertising after the launch of the Shop Now, Stress Later report reportedly showed consumers are taking on more than they can handle with unnecessary debt, per Talking Influence.
The Show Now, Stress Later report shows:
- 8% have used BNPL due to influencers (up 42% year-on-year)
- 13% aged 18-24 said that influencers played a part in their decision to shop now and pay later (up 26% year-on-year)
- 16% say BNPL schemes led them to purchase more than they could afford
- On average, BNPL platforms expect payment after 49 days but the average consumer said it takes 261 days to pay—an extra 186 days in debt.