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BNPL Surge, Millennial Spend, and Black Friday Revival
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Overview
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Amidst a price-conscious holiday season, US shoppers are utilizing buy now, pay later (BNPL) services for Cyber Monday, leading to a surge of 19% in BNPL purchases. Millennials are driving split-pay retail purchases, while Black Friday saw a generational divide in online shopping, with millennials spending more. Despite failed payments, online merchants are collaborating to mitigate the impact on sales and customer satisfaction. Advertising and influencers are reviving Black Friday purchases, while concerns about stock shortages and Gen Z engagement persist.
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How might the surge in BNPL usage during Cyber Monday impact the overall financial health of US shoppers?
In what ways might the collaboration between financial institutions and merchants to mitigate failed payments affect the future of eCommerce?
What strategies could merchants employ to address the generational divide in Black Friday shopping?
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