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DE-RISKING BUY NOW PAY LATER AHEAD OF KEY SEASONAL EVENTS

2. THE FACTS. THE FIGURES. THE FESTIVITIES.

Black Friday/Cyber Monday is the third most popular shopping holiday – right behind Christmas & Mother’s/Father's Day - with 25% of consumers shopping for items during these sales.*

+105%

growth in BNPL use on Black Friday 2021, compared to 2020 (The Power 50, 2022).

Consumers most likely to have made a purchase using a BNPL plan are 25–34-year-olds (20%), followed closely by consumers aged 34-44 (18%).* This is also the age group that is driven by sales events like Black Friday, with 3 in 10 global consumers aged 25 to 34 hunting for these bargains.*

On top of these consumer trends, retailers must remember that, around this same time, consumers will also be affected by inflating household bills (including energy prices, which are set to increase by 26.8% as of October 1st, according to the BBC, 2022).

As the cost-of-living crisis brings less opportunity for shopping sprees, customers will be looking to these key discount events for their purchases. The same can be expected during Christmas which is, globally, the most popular shopping holiday, with 57% of consumers shopping for this event.*

22%

of consumers are now considering purchasing their Christmas presents using BNPL offers (OpenMoney, 2021).

To prepare for these key seasonal events and potential spikes in BNPL usage, retailers must increase their knowledge of BNPL regulations to ensure a growth in sales does not put their customers, or themselves, at risk.

*YouGov, 2022