Record $222.1 Billion Online Holiday Sales Driven by Mobile Shopping and BNPL Options

Retailers' strategies of deep discounts and flexible payment methods entice shoppers, but concerns rise over potential debt from overuse of buy now, pay later services.

Online holiday sales reached a record $222.1 billion in 2023, a 4.9% increase over 2022, according to Adobe Analytics.
Buy now, pay later (BNPL) usage reached a record high, contributing to $16.6 billion in online spending, up 14% from 2022.
Mobile shopping surpassed desktop sales for the first time, accounting for 51.1% of sales during November and December, up from 47% in 2022.
Deep discounts and flexible payment methods were key strategies used by retailers to entice shoppers.
Despite the record online sales, there are concerns about consumers overusing BNPL services and digging themselves deeper into debt.