BROOKE DIPALMA: Great.

Rewriting the Content

Online consumer sales hit an all-time high over the 2023 holiday period, as data from Adobe indicates. Consumers spent an incredible $222 billion, the largest cumulative revenue the past three years. Thanksgiving through to Cyber Monday saw 22% of purchases due to the various promotional opportunities during that window.

Yahoo Finance’s Brooke DiPalma dives into these figures and evaluates the role of ‘Buy Now, Pay Later’ trends in holiday spending. To watch the full episode and get expert views on the current market, click here.

Expanding on Last Year: Record-Breaking Holiday Shopping Figures

The 2020 holiday season saw the highest ever e-commerce spending, according to Adobe. Consumers shelled out an impressive $222 billion, representing a 5% increase in spending compared to 2019. Cyber Monday sales generated $12.4 billion, followed by $9.8 billion on Black Friday and $5.6 billion on Thanksgiving. These three days formed the Cyber Five, where 20% of the total $222 billion was spent.

Breaking Down Holiday Purchases: Electronics, Toys, and Apparel

The biggest discounts this season were found in electronics, where products were reduced up to 31% off the original listed price. Toys were reduced 28% while apparel faced a 24% discount. This in turn encouraged a surge in demand despite inflation, as customers were more likely to splurge on those luxury goods they held back on in 2023.

‘Buy Now, Pay Later’ Impacts Holiday Spending

The ‘Buy Now, Pay Later’ trend had an impact in holiday spending too. Payment alternatives companies such as Affirm, Square, and PayPal saw their stocks jump significantly. Between October 1st and December 1st, these companies generated $16.6 billion, a 14% increase compared to the year before.

Affirm saw their stock prices rise over 100%, followed by 60% for Square. Despite not matching the performance of the other two, PayPal shared a slight bump, cementing the role of Buy Now, Pay Later services in the 2023 holiday season.

Clickbait style titles:
1) “How Consumer Spending Soared During the 2020 Holiday Season”
2) “Look At The Incredible E-Commerce Surges During Thanksgiving and Cyber Monday”
3) “Take a Look at the Increase in ‘Buy Now, Pay Later’ Services This Holiday Season”
4) “The Holiday Spending Secret: Unbelievable Deals on Electronics, Toys, and Apparel”
5) “This Holiday Season Saw Record-Breaking Shopping Figures — Here’s Why”