You will find more infographics at StatistaTotal online spending during that period is expected to grow by less than 5% compared to 2022, illustrating the growing importance of BNPL in times of high inflation and equally high interest rates.
“Buy Now, Pay Later has become increasingly mainstream and will make it easier for shoppers to hit the buy button, especially on mobile devices where over half of online spending will take place,” Patrick Brown, vice president of growth marketing at Adobe, said.
According to Statista Consumer Insights, young Americans are particularly likely to use BNPL services, with delayed payments and interest-free installments being the most popular BNPL benefits.More By This Author:Are People Losing Interest In Black Friday?Small Bank Deposit Outflows Continue As Fed Bailout Fund Usage Jumps To Another New Record HighCyber Week Spending Set To Hit New Highs In 2023
