Online purchases using the type of financing known as buy now, pay later jumped 68% during the week of Black Friday (Nov. 21 to Nov. 27) compared to the previous week, according to the latest Adobe Analytics report, published Monday.
Revenue from “buy now, pay later” — also known as BNPL — rose 72% week over week, and the number of orders rose 68% over the same period. The number of items per order have also risen 10% year-over-year from Nov. 25 to Nov. 27, as shoppers increased their shopping carts.
“In an uncertain economic environment, a more cautious consumer is embracing more flexible ways to manage their budget,” the software and market-research company said in a separate report Friday.
h/t Boo_Randy