As Black Friday and Christmas approach, UK shoppers are projected to spend a staggering £3.8 billion using Buy Now, Pay Later (BNPL) schemes, according to new forecasts. This represents a significant increase of nearly £200,000 compared to last year's festive period.
Black Friday and Cyber Monday BNPL Boom
The spending surge is set to begin in earnest on key shopping days. Adobe's 2025 Holiday Shopping Forecast predicts that on Black Friday (November 28) alone, Brits will splash out £132.1 million using BNPL options like Klarna and Clearpay. This figure marks a 12.7% increase from the previous year.
Even more eye-watering is the projection for Cyber Monday, where experts suggest approximately £159.3 million will be spent through these interest-free credit schemes as consumers hunt for online bargains.
Consumer Expert Issues Urgent Warning
Martyn James, a leading consumer expert, has issued a stark warning about the potential dangers of these seemingly convenient payment methods. He told The Sun: "Christmas comes with a heavy price this year with the news that billions will be borrowed on BNPL deals, which can be risky."
James emphasised that many people mistakenly believe this form of credit is harmless because it doesn't charge interest. "That's simply not the case," he stated. "Most people have an extra long wait for January payday due to getting wages early in December and this means that it's much easier to default on your payments."
The Hidden Risks of BNPL Spending
The convenience of BNPL schemes masks serious financial consequences for those who struggle to repay. James highlighted that "with barely a few clicks, you've committed to spending money you don't have and that you may struggle to pay back."
Failure to meet repayment obligations could lead to:
- Damage to your credit score
- Debts being passed to "aggressive debt collectors"
- Long-term financial difficulties
With the festive season accelerating, shoppers are being urged to exercise caution and carefully consider their repayment capabilities before committing to BNPL purchases during the Black Friday rush and Christmas shopping period.
