Sezzle and Vallarta Supermarkets Partner to Meet Rising Demand for Buy Now, Pay Later Grocery Options

Rhea-AI Summary

Sezzle (NASDAQ:SEZL) has announced a new partnership with Vallarta Supermarkets, a prominent family-run grocery chain in Southern California. This collaboration marks Sezzle's significant expansion in the grocery sector, where Buy Now, Pay Later (BNPL) options for grocery purchases have surged by 40% according to Adobe. Sezzle's interest-free payment platform has seen 61% of its users utilizing BNPL for groceries in the past three months. This move aims to provide consumers with an alternative to high-interest credit cards, especially as the cost of living continues to rise. The partnership intends to enhance shopping convenience and financial accessibility for Vallarta's customers.

Positive

• Sezzle's partnership with Vallarta Supermarkets signifies a major expansion into the grocery sector.
• Grocery purchases via BNPL have surged by 40%, demonstrating strong market demand.
• 61% of Sezzle users have used BNPL for groceries in the last three months, indicating high adoption.
• Sezzle provides an interest-free payment option, appealing to consumers avoiding high-interest credit cards.
• This collaboration aligns with the rising trend of integrating BNPL into everyday purchases.

Negative

• The increasing use of BNPL for groceries could indicate financial strain among consumers.
• A third of U.S. consumers are still reliant on traditional credit cards for grocery purchases, showing potential competition and consumer debt reliance.

Sezzle Expands Grocery Industry Presence as Grocery Purchases via BNPL Surge by 40%

Minneapolis, MN, June 03, 2024 (GLOBE NEWSWIRE) -- Sezzle Inc. (NASDAQ:SEZL) (Sezzle or Company) // - Sezzle, a leading Buy Now, Pay Later platform, announces the launch of its partnership with Vallarta Supermarkets - a family-run grocery chain that has been serving Southern California communities since 1985. This Pay-in-4 collaboration marks a significant milestone of Sezzle’s expansion in the grocery industry, providing shoppers with convenient and responsible ways to manage their everyday purchases.

Sezzle’s evolution into the grocery sector meets the increasing demand from shoppers to use BNPL for everyday essentials. Recent data from Adobe shows that grocery purchases via BNPL have surged by 40% since last year, outpacing all other product categories. Sezzle shoppers in particular see the benefit of interest-free financing for essential goods - with 61% using Buy Now, Pay Later to buy groceries in the last three months. As consumers seek alternatives to high-interest credit cards, solutions like Sezzle offer an appealing, interest-free option for spreading out payments, particularly as the cost of living rises.

Despite concerns that using credit for groceries may indicate financial strain, a 2024 PYMNTS survey reveals the prevalence of credit in the grocery sector. A third of U.S. consumers used a traditional credit card for their latest grocery purchase, a figure that has remained steady since 2021. The use of credit isn’t new to the grocery industry; Sezzle’s payment platform simply presents a modern adaptation of credit in the evolving landscape of consumer finance.

"We are delighted to partner with Vallarta Supermarkets and extend our BNPL services to their loyal customers," said Sezzle President and cofounder Paul Paradis. "This collaboration reinforces our mission to provide flexible, interest-free payment options that empower consumers to manage their finances more effectively. We are excited to see how Vallarta's shoppers will benefit from Sezzle’s responsible payment flexibility."

Vallarta Supermarkets is equally enthusiastic about the new partnership. "At Vallarta, our priority is to enhance the shopping experience for our customers,"  said Steve Netherton, Chief Information Officer of Vallarta Supermarkets. "Partnering with Sezzle allows us to offer a new-age, convenient payment option that aligns with the needs of our diverse community. We are thrilled to provide our shoppers with more ways to access the high-quality products they rely on every day."

This partnership between Sezzle and Vallarta Supermarkets not only enhances the shopping experience for Southern California communities but also underscores the growing trend of integrating BNPL options into everyday purchases. Together, Sezzle and Vallarta are setting a new standard for convenience and financial accessibility in the grocery industry.

Interested in knowing more about Sezzle? Learn more here. 

About Sezzle Inc.

Sezzle is a fintech company on a mission to financially empower the next generation. Sezzle’s purpose-driven payment platform increases consumers' purchasing power by offering interest-free installment plans online and in-store. Sezzle’s transparent, inclusive, and seamless payment option allows consumers to take control over their spending, be more responsible, and gain access to financial freedom.

For additional assets and news on Sezzle please visit https://my.sezzle.com/news/  

Follow Sezzle on social media: LinkedIn | Instagram | Facebook| Twitter 

Sezzle US Media Contact:

Erin Foran

Tel: (651) 403-2184

Email: erin.foran@sezzle.com

Attachment

• Sezzle Partners with Vallarta Supermarkets

FAQ

What is the recent partnership announced by Sezzle?

Sezzle has partnered with Vallarta Supermarkets to offer Buy Now, Pay Later options for grocery purchases.

What is the significance of Sezzle's partnership with Vallarta Supermarkets?

The partnership marks Sezzle's major expansion into the grocery sector, meeting increasing consumer demand for BNPL options.

How much has grocery purchasing via BNPL increased recently?

Grocery purchases via BNPL have surged by 40% according to recent data from Adobe.

What percentage of Sezzle users have used BNPL for groceries in recent months?

61% of Sezzle users have used BNPL for groceries in the past three months.

Why is Sezzle's payment platform appealing to consumers?

Sezzle offers an interest-free payment option, providing an alternative to high-interest credit cards.

What are Vallarta Supermarkets' views on the partnership with Sezzle?

Vallarta Supermarkets is enthusiastic about the partnership, aiming to enhance the shopping experience and provide new payment options to their customers.