THE IMPACT OF BUY NOW, PAY LATER SCHEMES ON BUSINESS ECONOMICS IN THE MOBILE RETAIL INDUSTRY IN NAGPUR, MAHARASHTRA.
Abstract
In recent years, the landscape of consumer purchasing behaviour has undergone a significant transformation, largely propelled by the advent of innovative financial technologies. Among these, Buy Now, Pay Later (BNPL) schemes have emerged as a prominent force reshaping the dynamics of the retail industry, particularly within the mobile retail sector. These schemes allow consumers to make purchases with immediate possession of the desired goods while deferring payment over a specified period, often interest-free or with minimal fees. As such, BNPL services have garnered immense popularity, offering consumers greater flexibility and accessibility to products while simultaneously presenting new challenges and opportunities for businesses operating within the mobile retail space. This research endeavours to explore the multifaceted impacts of BNPL schemes on the business economics of the mobile retail industry. By delving into the intricate interplay between consumer behaviour, market dynamics, and financial models, this study seeks to provide a comprehensive understanding of how BNPL services influence the strategies, profitability, and sustainability of mobile retailers. The mobile retail sector, characterized by its rapid evolution and fierce competition, serves as an ideal context for examining the ramifications of BNPL adoption. With the proliferation of smartphones and the increasing preference for mobile-based transactions, understanding the implications of BNPL schemes is paramount for businesses striving to thrive in this dynamic environment. Moreover, as BNPL services continue to gain traction globally, their influence on the broader retail ecosystem and economic landscape warrants meticulous investigation. Key areas of focus within this research include the effects of BNPL schemes on consumer spending patterns, sales volume, customer acquisition and retention, as well as the operational and financial implications for mobile retailers. Furthermore, the study will analyse the risks and benefits associated with BNPL integration, including potential impacts on cash flow, default rates, and overall business performance. Through a combination of empirical analysis, case studies, and industry insights, this research aims to contribute to the existing body of knowledge surrounding BNPL schemes and their influence on business economics in the mobile retail sector. By elucidating the complex relationships between consumers, retailers, and financial intermediaries, this study endeavours to provide valuable insights for industry stakeholders, policymakers, and academic researchers alike. In elucidating the impact of BNPL schemes on business economics within the mobile retail industry, this research aims to inform strategic decision-making, foster innovation, and ultimately contribute to the sustainable growth and development of the retail ecosystem in an increasingly digitalized world.
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References
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