Market Trends & Observations - Buy Now Pay Later (BNPL) usage surged during the Thanksgiving to Cyber Monday period, increasing by 6 percentage points compared to the previous year [3] - Cyber Monday saw over $1 billion in e-commerce spending through BNPL services in the US, marking the first time it surpassed $1 billion in a single day [3] - The adoption of BNPL as a new financial instrument is considered notable, driven by its increasing availability at checkout with various retailers [4] Potential Risks & Concerns - The prevalence of BNPL raises concerns about consumers spending beyond their means, especially when considering Black Friday sales [1] - Rising default rates on credit cards, coupled with increased BNPL usage, may indicate a potential problem [2] - The fintech and retail industries might be collectively encouraging consumers to spend money they don't have [2] Retailer Perspective - Retailers find offering BNPL services beneficial, as it allows customers to avoid paying the full price upfront, potentially leading to increased sales [5] - BNPL services are particularly advantageous for retailers offering higher-priced goods [5]

The buzzy Buy Now Pay Later option is at its peak during this holiday shopping season, breaking records on Cyber Monday.@amandamull joins @chafkin and @svaneksmith on the Everybody's Business podcast to discuss the rapid rise of BNPL and whether it's good or bad for the economy https://t.co/lQODUzi51U ...

The buzzy Buy Now Pay Later option is at its peak during this holiday shopping season, breaking records on Cyber Monday.@amandamull joins @chafkin and @svaneksmith on the Everybody's Business podcast to discuss the rapid rise of BNPL and whether it's good or bad for the economy https://t.co/lQODUzi51U ...

The buzzy Buy Now Pay Later option is at its peak during this holiday shopping season, breaking records on Cyber Monday.@amandamull joins @chafkin and @svaneksmith on the Everybody's Business podcast to discuss the rapid rise of BNPL and whether it's good or bad for the economy https://t.co/lQODUzi51U ...

The buzzy Buy Now Pay Later option is at its peak during this holiday shopping season, breaking records on Cyber Monday.@amandamull joins @chafkin and @svaneksmith on the Everybody's Business podcast to discuss the rapid rise of BNPL and whether it's good or bad for the economy https://t.co/lQODUzi51U ...

Retail Sales Performance - Retail sales, excluding auto, gas, and restaurants, remained flat, based on real credit card spending data from Affinity Solutions [1] - Year-over-year retail sales increased by 45%, a slight decrease from the previous month [2] Calendar Impact - The shift of Cyber Monday to December impacted November's retail performance [2] - Seasonal expectations from pandemic spending affected unadjusted changes [2] - November retail performance was affected by the loss of Cyber Monday to December [2][3] Sector Performance - Seven out of twelve sectors experienced month-over-month declines, including electronics and appliances [3] - Digital products, building garment supplies, and general merchandise also saw declines [3] - Food and beverage and restaurants experienced growth [4] Consumer Behavior - Shoppers indicated that more than half of their holiday shopping was yet to be done, the highest percentage since 2019 [4][5]

Retail Sales Performance - CNBC NRF retail monitor shows November holiday shopping getting off to a lackluster start [1] - Retail sales powered by real credit card spending data rising just 012% [2] - Core retail sales (excluding auto, gas, and restaurants) was flat [3] - Year-over-year retail sales up 45% and core up 47% [3] Calendar Impact - Cyber Monday fell in December this year, impacting November sales [3][4] - Thanksgiving was late this year, delaying holiday shopping [8] - 71% of the time Black Friday through Cyber Monday lands in November [10] Sector Performance - Seven of the 12 sectors saw declines month-over-month, including electronics and appliances [5] - Food and beverage and restaurants saw gains, but not necessarily at malls [6] - Digital products, building garment supplies, and general merchandise were down [5][6] Consumer Behavior - Shoppers had more than half of their shopping left to do after Thanksgiving weekend, the highest percentage since 2019 [6] - American Express data showed business up 9% from Thanksgiving through Cyber Monday [9] Future Outlook - The next couple years are going to be normal, with Black Friday and Cyber Monday in November [11] - Industry is still battling tough comparisons to pandemic spending in 2021 and 2022 [12]

"It's consistent with a growing economy."Bank of America CEO Brian Moynihan discusses the state of the US economy with @flacqua, saying "spending was solid and good" on Black Friday and Cyber Mondayhttps://t.co/ep5PTMVWYQ https://t.co/QrMUBC0FMv ...

Warning Issued For Amazon Prime Customers—New Attack Has StartedA record Black Friday and Cyber Monday also saw a record number of attacks by email and text. https://t.co/eTZ0iGuKCa ...

Core Insights - Cyber Monday 2023 saw record online spending of $14.25 billion, marking a 7.1% increase from the previous year and surpassing Adobe's projection of $14.2 billion [1] - The surge in spending was driven by competitive discounts across various categories, including electronics, toys, and apparel [2] - The overall online spending from November 1 to December 1 reached $137.4 billion, a 7.2% increase year-over-year, with significant contributions from Black Friday and Cyber Monday [8] Discounts and Consumer Behavior - Discounts on electronics reached up to 31%, toys up to 28%, and apparel up to 25%, with specific items like computers, televisions, and furniture seeing discounts of 23%, 22%, and 19% respectively [2][3] - Retailers utilized aggressive discounting strategies to stimulate online demand, leading to earlier shopping patterns and increased competition between Black Friday and Cyber Monday [5] - Adobe forecasts that discounts will continue, albeit at reduced levels, into the first week of December, with toys seeing up to 23% off and electronics and apparel at 20% and 19% respectively [6] Payment Trends - The rise in "buy now, pay later" platforms indicates consumers are seeking flexible payment options to manage their budgets, with this method driving $1.03 billion in online spending on Cyber Monday, a 4.2% increase year-over-year [10]