Separate research from adtech company Criteo suggests nearly one in three U.S. shoppers are open to buying from retailers other than Amazon during Prime Day if they can provide better value, faster delivery, or loyalty perks.
Big borrowing, too
A willingness to spend, of course, doesn’t necessarily mean consumers have put money aside.
Adobe anticipates consumers will use buy-now-pay-later services to purchase up to $1.9 billion of merchandise during Prime Day. This number is nearly double the amount Adobe forecast for last year’s two-day event, when shoppers were expected to use the flexible payment method to assist with $1.1 billion in online spending.
To help stay afloat during years of high inflation, many American households have gone deeper into debt. According to the Federal Reserve Bank of New York, U.S. consumers now owe a collective $1.2 trillion on their credit cards alone—up 6% from the same time last year.
