{"id":1505323,"date":"2024-12-01T00:15:00","date_gmt":"2024-12-01T05:15:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1505323"},"modified":"2024-12-01T00:15:00","modified_gmt":"2024-12-01T05:15:00","slug":"majority-will-rely-on-financing-for-black-friday-cyber-monday-despite-discounts","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/majority-will-rely-on-financing-for-black-friday-cyber-monday-despite-discounts\/1505323\/","title":{"rendered":"Majority Will Rely On Financing For Black-Friday\/Cyber-Monday Despite Discounts"},"content":{"rendered":"

Majority Will Rely On Financing For Black-Friday\/Cyber-Monday Despite Discounts<\/span><\/p>\n

\n

Millennials are the most likely among the four generations to resort to financing with credit cards or\u00a0Buy Now, Pay Later<\/a>\u00a0(BNPL) schemes<\/strong> for this year’s\u00a0Black Friday and Cyber Monday<\/a>\u00a0purchases, while only 55 percent of Baby Boomers will likely resort to these tactics to take full advantage of discounts offered by e-commerce platforms and retailers.<\/p>\n

This data stems from a\u00a0Deloitte consumer survey conducted in October 2024<\/a>.<\/p>\n

As Statista’s Florian Zandt details below<\/a>, among all financing methods surveyed, credit cards were the most popular at 53 percent respondent share.<\/strong><\/p>\n

<\/a><\/p>\n

You will find more infographics at Statista<\/a><\/em><\/p>\n

Despite shoppers planning to stretch their budget either by paying at a later date or shouldering more\u00a0credit card<\/a>\u00a0debt, the survey results suggest that average per-consumer spending will\u00a0increase to $650 for the period between Thanksgiving Thursday and Cyber Monday<\/a>. <\/strong><\/p>\n

This spending expectation is seemingly unaffected by the multiple crises like the war in Ukraine and the coronavirus pandemic influencing the world’s economy; since 2019, spending has increased at a compound growth rate of almost ten percent per year.<\/p>\n

While annual credit card payments have\u00a0shot past 50 billion transactions in 2022<\/a>, schemes like BNPL have only recently become popular. According to Worldpay’s 2024 Global Payments Report, BNPL was utilized for five percent of domestic e-commerce payments in the U.S., up three percentage points from 2020.<\/strong><\/p>\n

Out of the 41 countries and territories surveyed, BNPL was especially popular in Sweden, Germany and Norway with e-commerce purchase shares of 21, 21 and 15 percent.<\/strong> Sweden ranking as highly is unsurprising, since\u00a0Klarna<\/a>, one of the premier BNPL providers, was founded in 2005 in Sweden’s capital of Stockholm.<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nSat, 11\/30\/2024 – 19:15<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/personal-finance\/majority-will-rely-financing-black-fridaycyber-monday-despite-discounts<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Majority Will Rely On Financing For Black-Friday\/Cyber-Monday Despite Discounts Millennials are the most likely among the four generations to resort to financing with credit cards…<\/p>\n","protected":false},"author":0,"featured_media":1505324,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1505323","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1505323","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1505323"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1505323\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1505324"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1505323"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1505323"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1505323"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}