BIGC - BigCommerce sees 30% growth in buy now-pay later through Cyber Monday

BigCommerce (BIGC -0.2%) reports 39% year-over-year growth in gross merchandise volume of buy now-pay later solutions during the five-day holiday shopping period from Thanksgiving Day through Cyber Monday. BigCommerce says its merchants continued to grow at double-digit rates with 15% Y/Y increase in gross merchandise volume, materially outperforming the broader US online retail sector on a combination of Omicron anxiety and new concerns over the impact of Fed tapering or rate hikes. However, more people shopped in stores this year with foot traffic up to 104.9M shoppers from 92.3M in 2020. In the last two years, BigCommerce merchants’ Cyber Week sales have increased +103% and maintains the mark of zero downtime during the week. Earlier, With items such as toys, gift cards and consumer electronics leading the way, Americans made Cyber Monday the biggest online shopping day of the year by spending almost $11 billion on digital deals - Adobe.

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BigCommerce sees 30% growth in buy now-pay later through Cyber Monday