Typically, consumer spending, accounting for some 70 percent of America’s GDP, has been holding. But now there’s a slowdown in sight. It’s up only 0.1 percent, the weakest it’s been in six months.
Deep in debt, and with last week’s data showing stagnant wage growth, ”borrowing more to buy little” is now becoming the American way.
Can’t afford those new Nike sneakers? Don’t worry: You can buy them in just four easy installments! And no layaway necessary!
Fintech startups now offer these payment plans as part of your speedy online checkout.
TRENDPOST: This “Borrow More, Buy Little” will be a growing trend and not only in the U.S. but across developed nations. The startups offering these loans will be siphoning revenue from the credit card industry.
Trends are born, they grow, mature, reach old age, and die. The “Borrow More, Buy Little” trend has just been born.
To date, there are no dominant “PayPals” in this new sector. Identifying and investing in the hottest of these buy-on-installment startups will attract strong stock market attention.