More Black Friday Shoppers Used Buy Now, Pay Later Even As They Shunned Big-Ticket Gifts

Key Takeaways

• Holiday shoppers are making more use of buy-now-pay-later services, and are also focusing on cheaper items rather than big-ticket purchases, early holiday shopping data suggests.
• U.S. consumers are contending with high interest rates and other economic headwinds, but have ramped up their spending this year.
• Buy-now-pay-later services, which allow purchases to be paid off in interest-free installments, may be helping budget-conscious shoppers continue to buy at a time when credit cards are charging sky-high interest rates.