Holiday Spending Surge: 60M US Shoppers Swayed by Upfront Pay Later Options

Merchants have a critical opportunity to capture consumer spending by strategically positioning pay later options. But do merchants miss out due to delaying visibility? Yes. In fact, consumers say early awareness of pay later options influences their purchasing decisions. Can merchants really afford to lose out on consumer spend at this crucial time of year?

PYMNTS Intelligence’s latest report, “Maximizing Holiday Revenue: The Strategic Value of Early Pay Later Visibility,” a collaboration with Splitit, reveals that 68% of general-purpose credit card installment users decide to use these options before checkout. Additionally, 43% of holiday shoppers say the availability of pay later options impacts where they shop. This shift underscores the importance of strategic timing in promoting these solutions to drive engagement and loyalty.

Here’s what the November report uncovers about consumer adoption and pay later visibility:

Early Influence: Discover the ways showcasing pay later options before checkout drives consumer adoption and boosts sales.

Merchant Strategy: Explore how promoting pay later solutions early in the journey can shift consumer loyalty and increase conversion rates.

Spending Behavior: Learn how consumers prioritize merchants offering flexible financing options, particularly during the holiday season.

Adoption and Growth: Find out how emphasizing installment options early can attract both repeat users and new customers.

Download the Report Maximizing Holiday Revenue: The Strategic Value of Early Pay Later Visibility

This report provides merchants and financial strategists with key insights on maximizing consumer engagement and sales growth with pay later options. Download “Maximizing Holiday Revenue: The Strategic Value of Early Pay Later Visibility” for data-backed strategies and actionable takeaways.

About the Report

“Maximizing Holiday Revenue: The Strategic Value of Early Pay Later Visibility,” a PYMNTS Intelligence and Splitit collaboration, explores how merchants can boost consumer adoption by showcasing pay later options at strategic points in the shopping journey. This edition highlights the importance of early visibility and its effect on consumer choices, conversions and loyalty. The report draws insights from a survey of 5,248 U.S. consumers conducted between Sept. 30 and Oct. 5, 2024. This edition examines preferences across income and age demographics and includes actionable insights for merchant strategy.