Posted 11/27/2023, 7:58:00 PM
Cyber Monday Online Sales Expected to Hit Record $12 Billion, But BNPL Growth Raises Consumer Debt Concerns
- Record $12-12.4 billion expected to be spent online on Cyber Monday
- Buy now, pay later (BNPL) services expected to account for $782 million in sales, up 19% from 2021
- BNPL popularity growing as budget-conscious shoppers try to avoid credit card fees and interest
- Nearly half of BNPL users worried about paying off holiday credit card debt
- Average BNPL order values declined 32% on Black Friday compared to 2021, indicating smaller purchases