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Friend or foe? How buy-now-pay-later is seeking to change traditional consumer-retailer relationships in the UK

Ruffin Relja Orcid Logo, Anita Zhao Orcid Logo, Philippa Ward Orcid Logo

The Future of Consumption, Volume: Chapter 5, Pages: 95 - 119

Swansea University Author: Anita Zhao Orcid Logo

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DOI (Published version): https://doi.org/10.1007/978-3-031-33246-3_6

Abstract

The provision of “buy-now-pay-later” (BNPL) is changing relationships between consumers, credit providers, and retailers. This chapter develops a fine-grained understanding of the symbiotic dealings between these parties and discusses how their bonds may evolve given the intrinsic benefits and risks...

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Published in: The Future of Consumption
ISBN: 978-3-031-33245-6 978-3-031-33246-3
Published: Cham Palgrave Macmillan 2023
Online Access: https://doi.org/10.1007/978-3-031-33246-3_6
URI: https://cronfa.swan.ac.uk/Record/cronfa63178
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spelling v2 63178 2023-04-17 Friend or foe? How buy-now-pay-later is seeking to change traditional consumer-retailer relationships in the UK ea60dfdee64a02b6d5536c75f2575a00 0000-0003-2957-8300 Anita Zhao Anita Zhao true false 2023-04-17 BBU The provision of “buy-now-pay-later” (BNPL) is changing relationships between consumers, credit providers, and retailers. This chapter develops a fine-grained understanding of the symbiotic dealings between these parties and discusses how their bonds may evolve given the intrinsic benefits and risks at play. In that respect, it is the nature of the functional and relational attributes that specific actors liberate through BNPL that frame their individual ‘wellbeing’ in this coopetitive ecosystem. The chapter also unmasks the range of potentially positive and negative outcomes amid the evolving associations. The individual outturns are inherently unequal, and there is considerable variance for actors – although the retailer consistently appears to be the weak, if not sometimes the weakest, partner. The research additionally highlights that BNPL providers’ efforts to create a consumption ecosystem that disrupts contemporary patterns have been fairly effective, as BNPL providers are consistently perceived as the strongest partner by UK consumers. The consumer appears to be the arbiter of which form of symbiosis is manifest and thus central to the ecosystem. It is clear that relationships will continue to shift, requiring flexible and active management between the network partners to ensure individual and collective survival and wellbeing – and ultimately determine the final nature of the BNPL ecosystem. Book chapter The Future of Consumption Chapter 5 95 119 Palgrave Macmillan Cham 978-3-031-33245-6 978-3-031-33246-3 5 10 2023 2023-10-05 https://doi.org/10.1007/978-3-031-33246-3_6 https://doi.org/10.1007/978-3-031-33246-3_6 COLLEGE NANME Business COLLEGE CODE BBU Swansea University 2023-10-27T12:35:42.6341732 2023-04-17T16:31:55.7686433 Faculty of Humanities and Social Sciences School of Management - Marketing Ruffin Relja 0000-0001-9569-6247 1 Anita Zhao 0000-0003-2957-8300 2 Philippa Ward 0000-0002-4971-8908 3
title Friend or foe? How buy-now-pay-later is seeking to change traditional consumer-retailer relationships in the UK
spellingShingle Friend or foe? How buy-now-pay-later is seeking to change traditional consumer-retailer relationships in the UK
Anita Zhao
title_short Friend or foe? How buy-now-pay-later is seeking to change traditional consumer-retailer relationships in the UK
title_full Friend or foe? How buy-now-pay-later is seeking to change traditional consumer-retailer relationships in the UK
title_fullStr Friend or foe? How buy-now-pay-later is seeking to change traditional consumer-retailer relationships in the UK
title_full_unstemmed Friend or foe? How buy-now-pay-later is seeking to change traditional consumer-retailer relationships in the UK
title_sort Friend or foe? How buy-now-pay-later is seeking to change traditional consumer-retailer relationships in the UK
author_id_str_mv ea60dfdee64a02b6d5536c75f2575a00
author_id_fullname_str_mv ea60dfdee64a02b6d5536c75f2575a00_***_Anita Zhao
author Anita Zhao
author2 Ruffin Relja
Anita Zhao
Philippa Ward
format Book chapter
container_title The Future of Consumption
container_volume Chapter 5
container_start_page 95
publishDate 2023
institution Swansea University
isbn 978-3-031-33245-6
978-3-031-33246-3
doi_str_mv https://doi.org/10.1007/978-3-031-33246-3_6
publisher Palgrave Macmillan
college_str Faculty of Humanities and Social Sciences
hierarchytype
hierarchy_top_id facultyofhumanitiesandsocialsciences
hierarchy_top_title Faculty of Humanities and Social Sciences
hierarchy_parent_id facultyofhumanitiesandsocialsciences
hierarchy_parent_title Faculty of Humanities and Social Sciences
department_str School of Management - Marketing{{{_:::_}}}Faculty of Humanities and Social Sciences{{{_:::_}}}School of Management - Marketing
url https://doi.org/10.1007/978-3-031-33246-3_6
document_store_str 0
active_str 0
description The provision of “buy-now-pay-later” (BNPL) is changing relationships between consumers, credit providers, and retailers. This chapter develops a fine-grained understanding of the symbiotic dealings between these parties and discusses how their bonds may evolve given the intrinsic benefits and risks at play. In that respect, it is the nature of the functional and relational attributes that specific actors liberate through BNPL that frame their individual ‘wellbeing’ in this coopetitive ecosystem. The chapter also unmasks the range of potentially positive and negative outcomes amid the evolving associations. The individual outturns are inherently unequal, and there is considerable variance for actors – although the retailer consistently appears to be the weak, if not sometimes the weakest, partner. The research additionally highlights that BNPL providers’ efforts to create a consumption ecosystem that disrupts contemporary patterns have been fairly effective, as BNPL providers are consistently perceived as the strongest partner by UK consumers. The consumer appears to be the arbiter of which form of symbiosis is manifest and thus central to the ecosystem. It is clear that relationships will continue to shift, requiring flexible and active management between the network partners to ensure individual and collective survival and wellbeing – and ultimately determine the final nature of the BNPL ecosystem.
published_date 2023-10-05T12:35:41Z
_version_ 1780908338122326016
score 11.01306

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