Buy now, pay later: Here’s what borrowers are spending and buying

For shoppers considered generation X, millennials and generation Z, or those under age 60, clothes were the most popular BNPL purchases last year.

As Amazon’s Prime Day kicked off the holiday shopping season this week, U.S. consumers are expected to spend a record $18.5 billion using buy now, pay later for purchases in the last quarter of the year, according to projections by data firm Adobe Analytics.