Resellers Get Aggressive, Child Tax Credit Boosts Spending And Rent-to-Own Looks For Place In BNPL

By PYMNTS | August 12, 2021

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.

Data:

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.

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29M: Number of adult consumers who have used BNPL in the last 12 months.

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