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Are Americans spending more with ‘Buy Now Pay Later’ this holiday season?

Are Americans spending more with ‘Buy Now Pay Later’ this holiday season?

As many as 56% of shoppers have made a purchase with “buy now, pay later” services they couldn’t pay off, according to one recent survey. Americans are spending a little less this holiday season — but still more than they can afford. [7]

One may also ask, Are Americans spending more than they can afford this holiday season? Yet studies show installment payments encourage consumers to spend more than they can afford. As many as 56% of shoppers have made a purchase with “buy now, pay later” services they couldn’t pay off, according to one recent survey. Americans are spending a little less this holiday season — but still more than they can afford. [7]

Beside above, Why did Black Friday spending fall this year? Total spending on Black Friday, both in stores and online, fell slightly from a year ago — the first decline on record — in part because holiday shoppers started their shopping earlier in face of supply chain setbacks and shipping delays. [7]

Beside above, Did you overspend during the holiday season? About 30% of Americans said they overspent during the gift-giving season, according to a post-holiday survey by WalletHub. Although omicron drove a new wave of infections, more than half, or 56%, said Covid did not affect their plans, the survey found. [5]

Also Know, How much will Americans spend on average this year? All in, consumers plan to spend $997.73 on average for themselves and their families this year, according to the National Retail Federation’s annual survey, down from the pre-pandemic high of $1,047.83 hit in 2019. [7]

References

  • cnbc.com, Holiday shopping 2021: More than half of Americans are.
  • cnbc.com, 1 in 3 Americans overspent during the holidays, boosting credit card bal….

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About The Author

Hello, my name is William Lussier. I am a 32 years old Blogger & certified Computer Engineer from Lisbon, Portugal and currently doing Masters in Networks Security from the University of Lisbon.

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