KOIN, BNPL and the beauty market in Brazil
Source：E-COMMERCE BRASIL
From：Taiwan Trade Center Do Brasil
Update Time：2024/09/19
Koin took part in a Beauty event, which highlighted how the sector is intertwined with the Buy Now, Pay Later solution, currently represented by Pix Parcelado in the country.
Among the figures presented by the financial solutions fintech, Brazil, according to data from the Brazilian Association of the Personal Hygiene, Perfumery, and Cosmetics Industry (Abihpec), ranks 2nd among the countries that launch the most products in the area. In terms of share, today, digital sales in the sector account for around 15% of the total value.
Against this backdrop, the BNPL industry in Brazil has been working to build a format that can deliver the benefits of an installment solution and high recurrence. To this end, 3 and 4 interest-free installment formats have been launched for the end consumer, allowing access to short-term installments without having to incur additional payment costs, which can generate recurrence in a few months.
It should be noted that BNPL is not just a product for customers who don't have a credit card. According to a survey by Koin in 2024, 90% of consumers who bought Pix Parcelado in the last 12 months have the payment instrument. Despite the high level of banking in the country, the consumer's credit limit is a significant barrier. Based on Koin's 2024 survey, 60% of respondents have credit limits of R$5,000.00 or less and 30% less than R$1,000.00.
Looking at these figures, BNPL appears to be a viable and attractive alternative for both consumers and companies. Sectors such as Beauty and Cosmetics are clear examples of how the solution can boost sales and meet the needs of those who want to buy, offering solutions adapted to different profiles and preferences.
Source: https://www.ecommercebrasil.com.br/noticias/koin-bnpl-e-o-mercado-de-beleza-no-brasil