Increased adoption of buy-now-pay-later services drives stock gains

  • Shares of Affirm jumped almost 13% after new data showed increased consumer adoption of BNPL services
  • Consumer spending via BNPL options rose during Black Friday and the weekend
  • BNPL drove $760 million in online spending across Saturday and Sunday, up 20% from last year
  • Adobe Analytics expects BNPL to drive $782 million in online spending on Cyber Monday, up 18.8% from last year

Shares of Affirm, a leading provider of buy-now-pay-later services, soared nearly 13% after new data revealed that consumers are embracing BNPL offers during this holiday shopping season. According to Adobe Analytics, consumer spending via BNPL options increased during Black Friday and the weekend, with BNPL driving $760 million in online spending, a 20% increase from last year. The data firm also predicts that BNPL will drive $782 million in online spending on Cyber Monday, an 18.8% increase from last year. This surge in consumer adoption of BNPL services highlights the growing popularity and convenience of flexible payment methods in the retail industry.

Public Companies: Affirm (N/A)
Private Companies:
Key People: Vivek Pandya (Lead Analyst at Adobe Digital Insights)

Factuality Level: 7
Justification: The article provides information about the rise in consumer spending via BNPL options during the holiday shopping season, citing data from Adobe Analytics. The information is specific and quantifiable, indicating that BNPL drove $760 million in online spending across Saturday and Sunday, up 20% from last year. The article also includes a quote from Vivek Pandya, a lead analyst at Adobe Digital Insights, providing additional context. However, the article lacks in-depth analysis and could benefit from more details about the methodology used to collect the data.

Noise Level: 3
Justification: The article provides relevant information about the rise in consumer spending via buy-now-pay-later services during the holiday shopping season. It includes data from Adobe Analytics and quotes from a lead analyst. However, the article is very short and lacks in-depth analysis or insights. It also does not provide any evidence or examples to support its claims. Overall, the article is informative but lacks substance.

Financial Relevance: Yes
Financial Markets Impacted: Affirm

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to the financial topic of consumer spending and the performance of Affirm’s stock.

Reported publicly: www.marketwatch.com