The New Way Americans Are Paying for the Holidays
Summary
Many Americans are using new ways to manage holiday spending. A study by PayPal shows people are using artificial intelligence (AI) to find deals and "buy now, pay later" (BNPL) loans to finance holiday purchases.Key Facts
- 77% of people who have used AI for shopping plan to use it again this year.
- 34% are specifically using AI to search for discounts.
- Half of the consumers plan to use BNPL loans to help pay for holiday shopping.
- PayPal's survey included responses from 1,000 American adults.
- 52% are more likely to buy something when BNPL is available.
- Americans plan to spend an average of $890.49 per person on holiday items this year.
- 85% expect higher prices during the holiday season.
- 63% plan to wait until the Thanksgiving weekend for discounts.
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