Etsy’s latest acquisition is expected to be a boon for consumers – and a game-changer for luxury brands looking to compete with secondhand online retailers. Meanwhile, buy now, pay later (BNPL) is growing in popularity as consumers struggle to make ends meet. And in the U.S., major employers are making a show of boosting wages to attract new hires.
Data:
$1.6B: Etsy’s cost to acquire U.K.-based secondhand clothier Depop.
10: Number of major U.S. employers — including Costco, Target and Under Armour — that have raised wages to attract employees.
32%: Share of consumers struggling to cover monthly expenses who used BNPL solutions for Black Friday purchases.
50%: Portion of Sezzle customers with a credit score below 600.
$2.3B: Etsy’s projected sales this year, up 32% from last year.
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