The child tax credit could provide a jolt to consumer spending. Plus, Poshmark and thredUP say the secondhand market is on the rise, and rent-to-own retailers are looking for a place in the buy now, pay later market.
86%: Share of consumers who have purchased or would purchase secondhand apparel.
10.9%: Growth in the overall consumer economy in July 2021.
80%: Portion of Poshmark Mini users on Snapchat who are Gen Z shoppers.
56%: Share of consumers who plan to cut back on spending.
29M: Number of adult consumers who have used BNPL in the last 12 months.