LayBuy NZ - Buy Now Pay Later

[Nor]

Presumably because one has zero will power.

[troyvdh]

Nor...thanks.

[percy]

You would be correct on that score, I used it from time to time (a long time ago). Don't quite get the whole concept, why not use your credit card?

I had a toy shop in the 1970s,.
Before Credit cards came in customers would start putting toys away for Christmas in July/August,and start paying off their purchase.When they came into the shop they would often see something new and add it to their laybuy.
Layby was good as it meant customers would make regular visits to my store.
Come Christmas it was shear hell trying to find the laybys in the store room.Huge swings down to a few matchbox cars.[Do not recall ever losing one.]
At Christmas I would lose customers who would go to The Farmers as they offered credit accounts.
Therefore when Bankcard arrived, I signed up straight away to keep my customers..

[Nor]

Troyvdh ..
This (recent at least) worry by central banks that inflation was too low and might lead to deflation, which in turn would lead to consumers putting off purchases because they knew they would be cheaper later which would be bad for the economy seems stupid to me, too. Because it would be good environmentally if stuff was made to last longer.
You're welcome, in advance.

[Cobber]

I had a toy shop in the 1970s,.
Before Credit cards came in customers would start putting toys away for Christmas in July/August,and start paying off their purchase.When they came into the shop they would often see something new and add it to their laybuy.
Layby was good as it meant customers would make regular visits to my store.
Come Christmas it was shear hell trying to find the laybys in the store room.Huge swings down to a few matchbox cars.[Do not recall ever losing one.]
At Christmas I would lose customers who would go to The Farmers as they offered credit accounts.
Therefore when Bankcard arrived, I signed up straight away to keep my customers..

I do think there is a place for BNPL, I just don't think there is enough room for 20 players. The market is over saturated. For some reason most of these guys thought they had to buy their customers loyalty with the only point of differentiation being how many weeks it takes to pay your loan off. An extremely weak strategy.

Now they realise they need to scramble back to profitability. Unfortunately for LayBuy, they have loaded themselves with a high corporate cost structure that makes profitability impossible. Hence divesting from the UK.

The next 6 months will be interesting to watch. Is their UK business worth anything (ie can they sell it).... and can they raise any money from the market (ie are their any risk takers left).

[percy]

I do think there is a place for BNPL, I just don't think there is enough room for 20 players. The market is over saturated. For some reason most of these guys thought they had to buy their customers loyalty with the only point of differentiation being how many weeks it takes to pay your loan off. An extremely weak strategy.

Now they realise they need to scramble back to profitability. Unfortunately for LayBuy, they have loaded themselves with a high corporate cost structure that makes profitability impossible. Hence divesting from the UK.

The next 6 months will be interesting to watch. Is their UK business worth anything (ie can they sell it).... and can they raise any money from the market (ie are their any risk takers left).

If I were a toy shop [or any retailer] today I would love BNPL.Increased sales and I would get my money straight away.
As an investor I have avoided the sector.

[Cobber]

Well you’d have to argue someone is privy to confidential information considering the massive volume of stock that got transacted today.

I hope the ASX investigates.

[troyvdh]

Nor...I think you are over thinking this...I believe the average punter does not take into consideration.....
Your comment 'stuff would be made to last longer "
No ****
I mean poo.

[Baa_Baa]

Well you’d have to argue someone is privy to confidential information considering the massive volume of stock that got transacted today.

I hope the ASX investigates.

Yeah around 10x average daily volume and 100% SP increase today, but trading was fairly consistent smallish value throughout the day with no really monstrous trades. Maybe just short covering on triggered stops? Or a bona fide run on a big TA bust up through the MA's. Anyway, still a very long way back to the glory days. Todays' action likely to see some follow through on the buy side tomorrow if there's volume to feed it, traders will be all over this. ASX speeding ticket coming.

[nztx]

Last breath Dead Cat bounce or has this sucker still got some life in it somewhere
probably as another player's breakfast ?

$1.70 odd in Sep 2020 - now limping along at 1/20th of that bouncing on the small rocks along the path -what are the spare desks in the storeroom worth ?