Affirm leads BNPL usage share at 45%; grocery usage rising; back-to-school demand strong; dominates affluent millennials; Klarna guidance cut highlights divergence

PYMNTS report: Affirm leads BNPL usage share at 45% (up from 36%), but Klarna and PayPal at 44% each. 74% multi-homing. New data: 29% of BNPL users use for groceries (up from 14%), Gen Z 38%. Nearly half of American families plan to use BNPL for back-to-school shopping. Affirm dominates affluent millennials (51% share) and six-figure households, challenging 'subprime only' narrative. Consumer credit stress lifting BNPL usage benefits Affirm. Klarna's 27% revenue jump and 82% financing GMV growth confirm the BNPL shift to interest-bearing products, but Klarna's cautious H2 outlook (Germany softness) signals potential sector headwinds. Latest: Klarna cratered 22% on a guidance cut with CFO/CMO departures, while Affirm held flat, confirming markets see this as company-specific, not sector-wide. This divergence strengthens Affirm's competitive positioning.