Posted 11/27/2023, 1:59:00 PM
BNPL Spending to Hit Record $782 Million on Cyber Monday Amid High Inflation
- Buy Now, Pay Later (BNPL) expected to account for record $782 million in Cyber Monday online spending, up 18.8% from 2021
- BNPL has driven $7.3 billion in online spending Nov 1-26, up 14% year-over-year
- Consumers using BNPL to manage debt and buy gifts amid high inflation and interest rates
- Cyber Monday projected to notch new spending record of $12-12.4 billion
- Adobe forecast outpaces earlier projections, driven by growth in BNPL spending