Sezzle Study: 66% of Shoppers Abandon Carts Without Preferred Buy Now Pay Later Options

Sezzle’s latest survey data reveals that payment flexibility is no longer a luxury but a conversion necessity for retailers. With 66% of shoppers prepared to abandon carts if their preferred Buy Now, Pay Later (BNPL) provider is missing, the findings suggest that multi-provider strategies are becoming essential to capture high-value Gen Z consumers during peak shopping seasons.

What was announced

Sezzle, in partnership with Morning Consult, has released survey findings highlighting a critical shift in consumer behavior ahead of the Black Friday and Cyber Monday shopping window. The data indicates that 66% of shoppers are likely to abandon a purchase entirely if their preferred Buy Now, Pay Later (BNPL) option is unavailable at checkout. This friction begins well before the point of sale, as 57% of respondents report comparing payment options before they even start shopping.

The research emphasizes a generational divide in payment preferences. Gen Z consumers are the most active BNPL users, with 72% utilizing these tools two or more times per month, compared to just 27% of Boomers. Furthermore, 85% of Gen Z BNPL users have engaged with more than one provider, suggesting that brand loyalty in the BNPL space is fragmented and that shoppers are willing to switch platforms to secure an approval.

A significant hurdle for conversion identified in the study is the decline rate of existing providers. More than a third of surveyed shoppers have been declined by a BNPL service previously. Sezzle positions its platform as a solution to this "lost sale" problem, reporting an approval rate of over 90% for applicants. The impact on the total addressable market is substantial, with 82% of shoppers stating that BNPL availability allowed them to complete a purchase they would have otherwise postponed or skipped altogether. The findings also draw a parallel to the historical adoption of American Express, which reached 99% merchant acceptance by 2019 as retailers realized the cost of turning away preferred payment methods outweighed the transaction fees.

"Retailers spend all year building toward this shopping season. The last thing they want is to lose a sale at the final step because checkout didn't offer the payment option a shopper needed. If it isn't there, the cart just gets abandoned, and the shopper will often not come back to try again."

Paul Paradis, President and co-founder of Sezzle.

The companies involved

Sezzle is a prominent player in the flexible payments and Buy Now, Pay Later sector, focusing on providing consumers with interest-free installment plans. The company has established itself as a major alternative to traditional credit, particularly for younger demographics and those looking to manage cash flow without accruing high-interest debt. Sezzle operates within a competitive landscape that includes global giants, yet it distinguishes itself through its high approval rates and merchant-centric integration strategies that aim to reduce cart abandonment.

Morning Consult is a global decision intelligence company that provides data-driven insights into consumer behavior and market trends. By partnering with fintech firms like Sezzle, Morning Consult tracks the evolving relationship between digital payment methods and retail conversion. The firm is frequently cited for its research into the intersection of technology and finance, helping brands understand the shifting expectations of modern shoppers. Together, these organizations provide a window into how payment infrastructure directly influences the bottom line for global retailers during high-stakes commercial periods like the fourth-quarter holiday rush.

What FF News has reported before

FF News has closely tracked Sezzle’s expansion into major retail verticals. In September 2026, the publication reported on how Sezzle Expands BNPL Network with Gymshark, Debenhams, and Follett Higher Education Partnerships. This move signaled the company's intent to broaden its footprint across fitness, fashion, and education sectors. Additionally, FF News has covered broader consumer sentiment shifts in the U.S. market, including how Santander US Survey: Middle-Income Americans Demand In-Person Support for Major Financial Decisions and how U.S. Bank Study Reveals 67% of Parents Talk Money Before Age 12 but Struggle with Implementation. These reports underscore a growing complexity in how American consumers manage their finances and interact with both digital and traditional banking institutions.

What this means

The BNPL market is entering a "multi-stack" era. For years, merchants viewed BNPL as a "check-the-box" feature, often signing exclusive deals with a single provider to simplify integration. This data suggests that exclusivity is now a liability. As Gen Z’s purchasing power grows, their habit of "provider-hopping" puts immense pressure on retailers to offer a redundant array of payment options to ensure high approval rates. The industry is moving toward a reality where the cost of merchant fees is secondary to the cost of a hard decline at checkout. The open question for the sector is whether the checkout infrastructure can support this fragmentation without cluttering the user experience.