Summary
Americans used "buy now, pay later" (BNPL) options more during Cyber Monday, helping boost online sales by over $1 billion. Data from Adobe showed a record $14.25 billion spent online on Cyber Monday, driven partly by BNPL. Overall, this holiday season's BNPL spending is expected to reach $20.2 billion.
Key Facts
- "Buy now, pay later" (BNPL) use increased 4.2% on Cyber Monday compared to last year.
- BNPL helped contribute over $1 billion to Cyber Monday's online sales.
- Total online spending for Cyber Monday reached a record $14.25 billion.
- Adobe predicts BNPL spending will reach $20.2 billion by the end of the holiday season, an 11% rise from 2024.
- The Thanksgiving shopping period saw $44.2 billion in online spending.
- Some experts warn that rising BNPL use might hide financial struggles for U.S. consumers.
- Inflation has caused higher prices, impacting how people spend their money on gifts.
