Inside Klarna
Nov 23, 20212 min read

Ditching your credit card for Black Friday shopping? You’re not alone.

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by Klarna

Many of us usually wait for the sale season to be able to buy some higher-ticket items, to get started with our holiday shopping or to simply get some good deals. But this year there’s something more: UK shoppers are ditching their credit cards in greater numbers as they look for convenience and better value throughout their shopping journey.

Our Black Friday and Cyber Monday report found that if last year a shocking 46% of those who used a credit card ended up being charged interest on their holiday shopping, this year one in every two Brits is planning to archive their credit cards, preferring instead debit cards, cash or Buy Now, Pay Later. On top of that, two thirds of credit card owners want to avoid credit card debt. These results confirm that UK shoppers have had enough of paying interest and being trapped into credit card debt –  especially when it comes to their Black Friday deals and holiday shopping.

As more and more people want to be in better control of their finances, they increasingly turn to flexible and better value credit options such as BNPL. Indeed, we were not surprised to see that BNPL consumers are much better at planning and budgeting for their Black Friday and holiday purchases compared to those who don’t know what BNPL is –  if you use BNPL and Klarna you’re probably going to relate. 

  • Better Budgeters: 6 in 10 BNPL consumers have set an overall budget for their holiday shopping vs just 4 in 10 of those who had never heard of BNPL.
  • Proper planners: 6 in 10 BNPL consumers already know what to buy during the Black Friday sales vs only a third of those who don’t use BNPL. 
  • Smart shoppers: More than twice as many BNPL consumers wait for Black Friday sales to make larger purchases compared to people who never heard of BNPL.
  • Savvy savers: Almost twice as many BNPL consumers research the best deals ahead of time compared to those who don’t use BNPL. 

Curious to know more about what people are up to for Black Friday and Cyber Monday? Check out our full report here and watch this space for more exclusive insights!