Published on 5 Apr 2024 on Zacks via Yahoo Finance

Affirm (AFRM) Survey Hints Canadians Eyeing Major Purchases

Affirm Holdings, Inc. AFRM recently released findings from its survey of 2,000 Canadians, signaling that they are more confident about their finances compared with the economy. While many reports indicate that Canadians might cut their expenses, this survey highlights that the majority (82%) of people are planning to make a major purchase in the near future.

The report highlights that 94% and 90% of Gen Z and Millennials plan to make a major purchase in the coming months compared with 82% and 72% of Gen X and Baby Boomers, respectively. High prices were most often cited as a challenge by Canadians. This survey highlights an important aspect, which is the rising need for flexible payment options.

As demand for flexible payment options related to major purchases like travel, car among others is rapidly increasing, AFRM’s top line should benefit as a result. AFRM expects fiscal 2024 revenues, as a percentage of GMV, to expand 65 bps from the fiscal 2023 level.