Buy now, pay later discounts drive holiday spending

Published On Sep 25, 2024, 8:01 AM

This article discusses the expected growth in holiday spending driven by strong discounts and the use of buy now, pay later (BNPL) services. Adobe forecasts that online spending will increase by 8.4% to around $240.8 billion this holiday season, surpassing last year’s total. Discounts up to 30% on various items are influencing consumer behavior, encouraging shoppers to buy higher-priced goods. The BNPL method is projected to generate $18.5 billion in online sales, with November anticipated to be the strongest month for this spending. However, consumers should be cautious of the risks associated with BNPL, such as late fees and potential debt collections.