Gen Z’s dangerous attitude to debt
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Easy ‘buy now, pay later’ apps are facilitating young people’s lockdown shopping sprees.
By Eliza Filby
If you want to find out what Generation Z is thinking, look at what’s trending on TikTok.
One meme seen millions of times during lockdown has been the #GoHard video, featuring a comedic lip-syncing sketch to the US rapper Kreayshawn’s lyrics: “I’d really like to do that but I don’t have any f***ing money”. The meme reflects the frustrations of wanting to do something and then discovering a genius way to do it without needing to pay. Several of them feature ‘buy now, pay later’ payment app Klarna as the ‘solution’.
Any company would bend over backwards for such authentic, fun — and free — advertising; it reflects the Swedish finance firm Klarna’s growing Gen Z-centred customer base. Klarna has been operating in the UK since 2017 and has now linked up with more than 4,500 major retailers from H&M to J.D. Sports. This and other similar apps such as PayPal Credit, Clearpay, and Laybuy...
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