Online shopping financed with buy now pay later services hit $940 million on Cyber Monday, an all-time high.
Instead of marking down items to clear inventory, retailers are using discounts to draw customers away from competitors.
Millennials are opting for plans that allow them to spread payments without accruing debt or interest.
Consumers appear to be spreading their holiday spending across more days, heeding advice to get their orders in early.
80 percent of Americans are expected to use their phones to shop this holiday season.