Inflation is a two-sided coin for BNPL startups in Nigeria
- CDCare has sold more blenders than any other products since its launch in 2020.
- The effects of inflation have led to an increase in customers who now prefer to spread payments.
- Inflation has impacted the purchasing power of middle-class Nigerians, making it difficult for them to afford installment payments.
The BNPL market in Nigeria is experiencing both growth and challenges due to inflation and economic uncertainties. While there is an increasing demand for installment payment options, the reduced purchasing power of middle-class Nigerians poses a challenge. The fluctuating prices of products also impact the BNPL platforms. The market for large payments like cars is uncertain in the current macroeconomic situation.
