Afterpay usage jumped 30% during the holidays. The use of installment payment services only just started to take off last year among young shoppers. According to Afterpay, there was a 30% increase in “average basket size” for shoppers in the U.S. during the holiday season compared to 2019. Interestingly, rather than big-ticket items, thermal knits, Old Navy’s socks and pajamas, Crocs, and fleece-lined boots and slippers were among some of the popular products that users were buying with the service. YPulse found that 22% of 13-39-year-olds have used BNPL payment installment services already, while 29% are interested in using them. (Retail Dive)
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