Expert Explains Holiday Spending Habits

Colleen Kirk, D.P.S., professor of marketing and management, is quoted in a Newsday article discussing New Yorkers’ holiday shopping plans despite concerns over tariffs and inflation. American consumers are projected to spend more than $1 trillion this season and expect to rely on credit cards and Buy Now, Pay Later (BNPL) services to avoid immediate cash spending.

Kirk says that credit cards and BNPL “allow us to borrow from our future selves.” In addition, earning rewards points contributes to the illusion that paying with a credit card is less costly.