Recent data from Adobe reveals a significant trend in holiday shopping, with buy now, pay later (BNPL) options accounting for an impressive $6.9 billion in spending from November 1 to November 28. This method of payment has gained immense popularity, particularly among mobile users, with nearly 80% of purchases made on their devices. On Black Friday alone, BNPL is projected to generate $711.3 million in sales, marking a 12.8% increase compared to the previous year. Cyber Monday is set to break records, with an anticipated $993 million in single-day BNPL spending. Overall, online shopping during Thanksgiving has reached $6.1 billion, showcasing a shift towards mobile transactions, which comprise about 60% of all online orders. Analysts attribute this surge to attractive discounts and the convenience of BNPL options, which encourage consumers to spend more—especially those who are financially constrained and reliant on credit cards.
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