Afterpay's "payment day" is set for November 19th! Because consumers are stocking up in advance!

It is learned that recently, international payment giant Afterpay announced that November 19th is "Pay Off Day" - this is the date when consumers use Afterpay to buy holiday goods and pay them off before the New Year.

An Afterpay survey found that nearly half of consumers will start holiday shopping early and strictly limit their spending.

• Nearly 40% of Gen Z plan to shop early to avoid overspending.
• 45% are starting their holiday shopping early to avoid package delays, and more than a third (39%) plan to complete all their holiday shopping by Thanksgiving.
• 36% of consumers set a shopping budget and strictly limit their spending.

Afterpay global CMO Geoff Seeley said that the US BNPL market has grown by 230% since the beginning of 2020. Millennials and Generation Z are the main force of this new market. The new buy now, pay later model connects merchants with new young consumers. It can be said that this holiday is a "BNPL" holiday.

In addition, Afterpay has generated $4.5 billion in net revenue for sellers, including $8.2 billion in incremental sales for retailers and SMB merchants this year. By shopping with Afterpay, U.S. customers saved up to $459 million in credit card fees and interest in 2021, equivalent to $6 per order.

Editor✎ Irene/

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