Online Holiday Spending Expected to Rise 5.3%, Fueled by Debt
According to a report by Adobe Inc., online holiday spending in the US is expected to rise by 5.3% this year, reaching $253.4 billion in November and December. The growth is largely driven by the increasing popularity of "buy now, pay later" (BNPL) payment options, which allow consumers to split their purchases into smaller, interest-free installments. The report suggests that the ongoing shift towards e-commerce, coupled with the convenience and flexibility offered by BNPL services, is contributing to the anticipated increase in online holiday spending. This trend reflects the changing consumer behavior and the growing demand for more flexible payment solutions, particularly during the peak shopping season. Overall, the report provides a positive outlook for the online retail industry, highlighting the continued growth and evolution of the e-commerce landscape in the United States.
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