U.S. consumers are so fucked up, that they put more than $1 billion on buy-now, pay later services during Cyber Monday (news.adobe.com)

submitted 4 months ago by King@blackneon.net to c/lemmyshitpost@lemmy.world

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Usage of the flexible payment method hit an all-time high on Cyber Monday, driving $1.03 billion in online spend (up 4.2% YoY), as consumers looked for greater flexibility in managing their holiday budgets. The vast majority of BNPL transactions are happening on a mobile device as well, at 79.4% share on Cyber Monday (vs. desktop). In an Adobe survey of over 1,000 U.S. consumers (conducted Nov. 2025), respondents said they were most likely to use BNPL for electronics, apparel, toys, and furniture purchases.

Source: Adobe Analytics.

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[-] drmoose@lemmy.world 0 points 4 months ago

Key detail missing here - what is the interest rate on avg? I buy a bunch of stuff at BNPL because with 0% interest over 1 year it's essentially at least 2-4% cheaper due to inflation.

[-] Holytimes@sh.itjust.works 1 points 4 months ago

This is a big one, so long as the payments are on time most BNPL actually end up saving you a small bit of money compared to buying it out right.

Even if a good credit card with good cash back and rewards. BNPL frequently ends up getting me a positive savings of 1-3%.

Of course we know the reason they can offer these deals is because people frequently don't pay back properly or on time. Thus subsidizing the service for the rest of us. It's not healthy or good overall.

But like with most things if you can take advantage of it and use it to your benefit, you should.

[-] CaptainBlinky@lemmy.myserv.one 0 points 4 months ago

I mean, even if it was 1 in 10 people that would still be like 30 bucks each. Most of those buy now pay later plans are interest free anyway.

[-] BussyCat@lemmy.world 0 points 4 months ago

They have late fees and can have incredibly high interest if you pay late.

1 in 10 for $30 includes every single man, woman, and child in the United States. In reality there is a much smaller group spending much more money and developing a revolving door of debt where they are chronically in debt for non essential purchases and as soon as one of those payments goes late they will be slapped with a bunch of late fees and interest that will make them miss other payments and get even more late fees and interest until they end up underwater

Klarna got 2.8B in revenue last year and they did it with those “interest free” loans

[-] Blackmist@feddit.uk 0 points 4 months ago

IIRC, most of the money they make is fees on the stores.

[-] melsaskca@lemmy.ca -1 points 4 months ago

There is no debtor's prison in the usa. Charge everything you can, especially if you are poor. Let the chips fall where they may. With any luck the government will bail out the citizens like they do for the airlines, car companies and banks. /s

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this post was submitted on 06 Dec 2025

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