AdvertisementA growing share of US shoppers chose buy-now-pay-later options on Black Friday and Cyber Monday.
Splitit's CEO told BI that his company's order volumes were up 62% in the week ending with Cyber Monday.
Many buy-now-pay-later shoppers are likely to use the option again as they get used to the concept.
Of the $131.5 billion in online spending tracked by the company during the period, $9.4 billion was spent using a BNPL option.
AdvertisementSplitit's Sheth said more than a third of its users during Cyber Week had previously used the service at least one other time in the preceding year.
Persons:
Splitit's, Nandan Sheth, Splitit, BNPL, Klarna, Afterpay, Adobe, It's, that's, Neil Saunders, Sheth, Chris Walton, Caila Schwartz, Splitit's Sheth, Global Data's Saunders, Zers, Salesforce's Schwartz, Dominick
Organizations:
Business, Data, Amazon, Walmart, Rite Aid, Staples, Apple, Google, Global, Trump
Locations:
Australia, Sweden