As the holiday shopping season approaches, a significant shift in consumer behavior is evident, with nearly a third of American shoppers considering Buy Now, Pay Later (BNPL) options. According to a recent survey conducted by Morning Consult and Afterpay, 30% of respondents indicated they are likely to use BNPL this year, highlighting its growing popularity as a budgeting tool. The survey reveals that 23% of shoppers believe BNPL allows them to stretch their holiday budgets further, making it an attractive option during a time of increased spending. Among those planning to utilize BNPL, 57% intend to rely on it even more this season. Notably, younger demographics, particularly Millennial parents and Gen Zers, are driving this trend, with 41% of Gen Zers and 42% of Millennial parents deeming BNPL essential for their holiday purchases. Retailers are encouraged to adapt to these evolving consumer preferences to effectively engage with shoppers this season.
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