The news: Buy now, pay later (BNPL) usage was limited during the recent summer sales events Amazon Prime Day and Walmart+ Week but grew compared with usage during the events last year, per a PYMNTS study.

• During Amazon Prime Day, 5.2% of shoppers used BNPL to make their purchases, an increase from 3.3% last year.
• And for Walmart+ Week, 7.2% of customers used BNPL at checkout, compared with 5.0% in 2023.

Why this matters: Despite user growth, BNPL usage remains minimal compared with the number of shoppers who use it during the year: 38.9% of US digital buyers will use BNPL in 2024, per our forecasts.

Given the size of these summer sales events, this is a missed opportunity for BNPL providers to grow their payments volume.

• Consumers spent a record $14.2 billion during the two-day Amazon Prime event this year, per Adobe Analytics.
• And while Walmart’s event remains smaller, it’s catching up to Prime Day: Roughly 40% of consumers made a purchase during Prime Day, while around 20% bought something during Walmart+ Week.

Our take: The more limited usage of BNPL during these sales events might be due to the limited options available at each retailer. In the US, Amazon offers some card-linked installment options, along with Affirm. Walmart also offers Affirm and is building out a BNPL solution with its majority-owned fintech One.