Rise in Online Purchases as Americans Seek Cheaper Alternatives.

More shoppers are turning to buy now, pay later services to manage their household budgets as inflation continues to rise. According to Adobe Analytics, the share of online purchases using such services grew 10% YoY within the first two months of 2023, with grocery shoppers leading the way with a 40% increase in usage. Home furnishings also saw a 38% increase, while apparel only grew 8% and electronics fell by 14%. The rise in usage for groceries suggests that consumers are making bigger purchases online to take advantage of special promotions and manage living expenses in more flexible ways.