Offering Buy Now, Pay Later (BNPL) options before customers reach the checkout could significantly enhance merchants' sales figures this holiday season. A recent survey by PYMNTS Intelligence reveals that 27.1% of consumers are likely to buy higher-priced items if BNPL is available early in the shopping process. Additionally, 26.9% indicated they would purchase more items, while 26.7% expressed willingness to pay full price without waiting for sales. As holiday spending is projected to soar, with US consumers expected to spend $18.5 billion on online purchases using BNPL services—an 11.4% increase from last year—merchants have a prime opportunity to boost conversion rates and payment volumes. With total holiday retail ecommerce sales forecasted to reach $266.89 billion in 2024, implementing BNPL options strategically could be the key to maximizing profits and ensuring a successful holiday shopping experience for both retailers and consumers.
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