Expands our TAM in a large and fast-growing market, Well positioned to benefit from Etsy's expertise to, http://www.prnewswire.com/news-releases/etsy-to-acquire-global-fashion-resale-marketplace-depop-301303695.html. You can use it to browse listings by your neighbours and local shops with a surplus of food or other products. Show publisher information While some users complained of poor customer service, Depop can help you make extra money online. A Division of NBCUniversal. 6) The app must also have an express courier function, home collection/delivery, users can do everything without leaving home. Depop's 2020 gross. How to sell. Which one is better, though? $1 Billion made by the Depop community to date. Take up to four photos. Ticker: ETSY. Unfortunately, some users complained that the platform would hold your money for a long time before closing your accounts. Depop is a popular second-hand fashion marketplace app with a global community of buyers and sellers. It's nothing else than a standard return policy where buyers can return items that might be damaged, missing, or cancelled. You need at least a Starter Account to use this feature. With over 26m users in more than 150 countries, Depop is the place for anyone looking to celebrate style on their terms and keeping millions of items of clothing in rotation. . Therefore, as a seller on Vinted, the buyers will expect you to offer a lower price for your products, as they are the ones covering all the fees. You then use this address for your deliveries, and theyll automatically forward them to your home country. Depop, on the other hand, while having a user base of over 26 million, is only available in 6 countries. As Depop, which has 219 employees, struggles to police millions of users across multiple continents, the start-up is reckoning with dangers facing its young users that have plagued the internet since the early 1990s. [11][12], Depop is a social e-commerce platform where users can buy and resell their items. It surveyed 2,176 Depop users from the UK, US and Australia and conducted individual interviews with a sample of Depop sellers, analysed alongside insights from Bain & Company. June 2, 2021. Founded in 2011, Depop is a community-powered marketplace to buy and sell unique fashion, with a mission to build the world's most diverse and progressive home of fashion. Depop profit calculator - Calculate your Depop and Paypal fees, shipping amount, taxes, revenue and profits for every product you sell on your Depop store. You need a Statista Account for unlimited access. <br><br>I have demonstrated skills and experience in public relations, fashion marketing, and fashion communications. Depop Summary. In June 2021, Etsy announced it would acquire Depop for $1.6 billion in cash. Its sustainability plan is built around the UN's Global Goals, the 17 objectives designed to tackle the systemic causes of extreme poverty, including the climate crisis and inequity. [12] It is the 10th most-visited shopping platform for Gen Z consumers in the US,[18] and, in a poll conducted by The Strategist in 2019, Depop was voted by teenagers as their favorite resale website. eBay is an e-commerce platform, at first only providing customer-to-customer auction services, expanding into business-to-consumer shortly afterwards. Like Depop, Decluttr is free to download and use. Please create an employee account to be able to mark statistics as favorites. It also gives the online marketplace a bigger footprint in fashion resale. ", She added: "Our community is made up of people who are creating a new fashion system by establishing new trends and making new from old. Depop is primarily known for its vintage, streetwear, one-of-a-kind and Y2K (late 1990s/early 2000s) fashion. ", Rachel Glaser, Etsy's CFO, commented, "We've admired Depop for a while, and are excited to have now reached an agreement to purchase this fantastic business - a company we believe is still in the early innings of its growth opportunity. In 2020, Depops gross merchandise sales and revenue increased to $650 million and $70 million, respectively. "We see significant opportunities for shared expertise and growth synergies across what will now be a tremendous 'house of brands' portfolio of individually distinct, and very special, ecommerce brands. Depop is designed for sellers who want to sell items such as clothing, shoes, clothes, vintage clothes and items, and cheap streetwear. Growing up in a hyper-connected world, Gen Z is more vulnerable to macro level uncertainties, the report finds. Etsy has sufficient available liquidity to fund the acquisition. Compare Depop alternatives for your business or organization using the curated list below. Depop is the community-powered marketplace app where people exploring style and the latest trends come to shop and sell circular fashion. Conduct your own research and seek the advice of a licensed financial advisor. Depop is the app for you . Depop reselling is unethical, not because reselling is unethical in general, but because of how it's done. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. About Depop Our leadership Facts and figures. 26M+ registered users over 150 countries. Enter your username, password, and country, Connect your Depop account to your PayPal address, No limit to to the type of products you can sell, 2 days to ship the item after getting paid, High user traffic over 187 million users, Promote your listing from as little as 1%. Depop is the community-powered marketplace app where people exploring style and the latest trends come to shop and sell circular fashion. How do you just dip in and dip out and find what you need to sell quickly, sell simply and sell easily and then carry on with your life?. In March 2016, former CEO, Runar Reistrup, stated that Depop's growth was achieved through word of mouth. Depop boasts approximately 30 million registered users across 150 countries. As covered, Vinted connects 21 million users worldwide, operating in 15 countries. Etsy will host a live webcast conference call to discuss this acquisition at 8:30 a.m. Eastern Time today, which will be live-streamed via our Investor Relations website (investors.etsy.com) under the Events section. [Online]. Depop is a peer-to-peer social shopping app. I always say we owe ourselves authenticity. A sub for discussing all things Depop. Type Subsidiary . Depop is a peer-to-peer social shopping app based in London that first launched in 2011. People want the opportunity to buy and sell, but also they want this inspirational layer and entertainment through their experiences.. You can also move the money to your bank account once its transferred to PayPal. If you are an admin, please authenticate by logging in again. They will charge you extra to pay for the import taxes up front, but will just keep the money instead so you have to pay taxes x2 + handling fees when the package arrives in your country. With 4 million active buyers and 2 million . Business Summary. A 2020 Hulu study found 75 per cent of Gen Z respondents rejected easy categorisation of their race, gender or sexuality, while 60 per cent felt their identity was linked to a broad mix of factors, including race, culture and language. (November 8, 2021). In addition, Etsy, Inc. owns Reverb, a leading global online marketplace dedicated to buying and selling new, used, and vintage musical instruments. Discover unique fashion. Decluttr is an online app that allows you to sell your used media. Now They're Graduating", "Artefact In conversation with | Depop founder Simon Beckerman", "TechTalk con Simon Beckerman, Riccardo Donadon e Paolo Barberis su Depop, la startup diventata unicorno", "Social Shopping App Depop Raises $8M, Hires Ex-Reddit GM To Break Into US Market", "The Entrepreneur: Runar Reistrup, Depop", "Depop, a social app targeting millennial and Gen Z shoppers, bags $62M, passes 13M users", "Etsy Buys Depop, Fashion Resale Site Popular With Gen Z, for $1.6 Billion", "Etsy is buying the fashion resale app Depop for $1.6 billion", "Etsy is acquiring UK-based social selling site Depop for $1.625B in a mostly cash deal", "All Those Millennials Can't Be Wrong: Why Depop Just Might Change the Way You Shop", "Why Teens Are Selling Clothes Out of Their Closets", "Etsy targets Gen Z shoppers with $1.6 billion Depop acquisition", "9 Celebs With Depop: The Millennial Thrift Shop", "United States B2C Ecommerce Market Report 2022: Market is Expected to Grow by 11.80% to Reach $1,574.5 Billion in 2022 - Forecasts to 2026", "Depop Is the New Instagram but Not in a Good Way", "Depop: Can pre-loved clothes make fast fashion sustainable? Depop proudly states that 90 percent of its active users are under 26. Swappa also focuses on used electronics compared to Depop, which deals in clothing, shoes, and other streetwear. MyUS is one of the best freight forwarders available and its our favorite. It really makes us think about, how do we serve these journeys? Forward-looking statements include all statements that are not historical facts. While no seller likes to pay fees, they are integral to online selling. In light of these risks, uncertainties and assumptions, we cannot guarantee future results, levels of activity, performance, achievements, or events and circumstances reflected in the forward-looking statements will occur. 4 locations detected. How do we make sure we have the right tools for you if you want to effectively be a casual seller (of which there are many more than there were one year ago). ETSY. Users can buy and sell clothing, accessories, and beauty products. Available everywhere. The buyer pays shipping costs and a small buyer protection fee when buying via Vinted. Investor Relations Manager, Advances leadership in community-driven and differentiated marketplaces, Etsy to acquire global fashion resale marketplace Depop. by Jerret West, CVP Gaming Marketing, Xbox Feb 28, 2023 @ 12:01am. The app is currently available only in European countries, but it's expected to soon be available in the US too. Skepta Nike Air Max Plus, SK Air Blue Tailwind Size: UK 8.5 Condition / info: 10/10 Condition, Worn A Handful Of Times perfect condition PLEASE READ International Shipping is available for all countries UK 48 Tracked Royal Mail Shipping to all UK orders Items are shipped within 48 hours Guaranteed All of our items are second hand unless stated otherwise. There are plenty of resources available to help you cleared up any questions you may have. On paper, Depop and Vinted offer the exact same services, connecting second-hand clothing sellers with buyers. As a Premium user you get access to background information and details about the release of this statistic. Etsy CEO Josh Silverman said the company was "thrilled" to be adding what it believes to bethe"resale home for Gen Z consumers" to Etsy. [21] The platform has also been criticized by its users for picking predominantly thin models wearing straight size clothing to showcase on its Explore page, which some have described as sizeist.[22][19]. While creating a Depop account, your phone number will be required. Depop, on the other hand, is a better choice for a small business. The brand registered unprecedented growth in May and July 2020, with. I think for my generation it comes quite naturally Theres a lot more respect and open conversation., For Gen Z, the inspiration journey is never linear, Semple says. Depop is a vibrant, two-sided marketplace with a passionate community, a highly-differentiated offering of unique items, and we believe significant potential to further scale. Its marketplace connects over 21 million users, selling, buying, and exchanging second-hand clothes and accessories. The marketplaces will operate independently, while benefiting from shared expertise in areas such as product, marketing, technology, and customer support. Depop is a website and mobile app available in over 150 countries with over 26 million active users. The company has an expanding global presence being popularised in countries such as the United States, United Kingdom, Australia, New Zealand, and Italy. Depop is a legitimate app that allows sellers and buyers to trade their items hence not a scam. Depop is a peer-to-peer social e-commerce company based in London, with additional offices in Manchester, Milan and New York City. This partly refers to self-identity. To use individual functions (e.g., mark statistics as favourites, set Etsy's mission is to keep commerce human, and we're committed to using the power of business to strengthen communities and empower people. Those interested in submitting questions during the conference call can do so by using the Q&A chat window, which will be available during the webcast. [5] Depop expanded and opened additional offices in Milan and New York City. Previous investors HV Holtzbrinck Ventures, Balderton Capital, Creandum, Octopus Ventures, TempoCap and Sebastian Siemiatkowski also participated. Depop is expected to be accretive to Etsy's top line growth rate and modestly dilutive to Etsy's adjusted EBITDA margin. Last month [object Object] was the top country sending desktop traffic to depop.com - click below to discover all countries Top Countries United States 49.04% 1.30% United Kingdom 24.80% 4.06% Australia 8.56% 15.40% Canada 2.74% 0.35% Italy 1.27% 13.93% Others 13.60% See all countries depop.com Audience Demographics Secondhand may be sustainable but its also cool. , Aug 2, 2022 London-based social shopping platform app Depop was highly benefited by the e-commerce boom during the COVID-19 pandemic. Forward-looking statements represent our beliefs and assumptions only as of the date hereof. Unfortunately, Depop doesnt ship directly to Europe. Approximately 90% of Depop's active users are under the age of 26; and young consumers are adopting second-hand fashion faster than any other audience; According to Depop's monthly brand awareness surveys, it has high prompted awareness for the Gen Z demographic within the resale sector; Depop is the 10th most visited shopping site among Gen Z consumers in the U.S. Depop is a reliable website that allows you to buy and sell items. The user base on Depop is also younger than on Vinted, which, in exchange, has a more international user base. Access to this and all other statistics on 80,000 topics from, Show sources information Weve talked about fluidity as much more than gender for some time at Depop, says chief brand officer Peter Semple. Depop reports having over 30 million registered users in over 150 countries. Depop has evolved to become the community-powered fashion marketplace to buy and sell unique fashion, with approximately 30 million registered users in more than 150 countries. statistic alerts) please log in with your personal account. According to positive reviewers, Depop allowed them to start their small business. "To some degree, we have a closer relationship with Gen Z . GET SERVICE INSTANTLY . Depop is a reliable website that allows you to buy and sell items. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 60m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. Click here to view 60+ Websites to Sell Stuff. Depop is a legitimate app that lets sellers sell items and buyers buy items; hence not a scam. --Etsy, Inc., which operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world, has signed a definitive agreement to acquire. It allows users to buy and sell items, most of which are used and vintage pieces of clothing. <br><br>In the year between finishing my undergraduate degree and beginning my postgraduate studies, I completed as many contract internship . so i am from Algeria and i started selling on depop from 2017 but recently some friends wanted to open a depop account they couldn't because the don't receive the confirmation using phone number and i looked for the app on play store and it doesn't show. Kasera has had a long career in personal finance having spent over 5 years working as a financial advisor directly with CEOs, business owners, and entrepreneurs. Poshmark is best known for women's fashion, trendy brands, and higher-end clothing and accessories. Simon Beckerman and Maria Raga are the co-founders and current owners of Depop. Got a confidential news tip? Depop was established as a social network for readers of PIG magazine back in 2011 by magazine founder - and head of sunglasses brand Retrosuperfuture - Simon Bekerman. With over 26 million users in more than 150 countries, Depop is the place for anyone looking to celebrate style on their terms and keeping millions of items of clothing in rotation. The company, founded by Simon Beckerman in 2011, is headquartered in London, with offices in Manchester, New York, Los Angeles and Sydney, with approximately 400 employees dedicated to its mission of building the world's most diverse progressive home of fashion, that's kinder on the planet and kinder to people. Both apps also make it very easy to post your items. hi! Depop, which first emerged from an Italian tech incubator in 2011, then established its headquarters in London, is a dark horse in the fashion ecom wars. Others were also unhappy with the customer service describing it as unresponsive. New risks emerge from time to time. Depop is headquartered in London, England and Los Angeles, California. Sellers can set up their Depop shop and quickly list . Email us at feedback@voguebusiness.com. The freight forwarder accepts the package on your behalf. ", "Is Depop being gentrified? You can unsubscribe at any time. Depop is a place for anyone to discover and celebrate their style on their own terms, and to feel good about their fashion choices by extending the lives of millions of garments. With roughly 30 million registered users across nearly 150 countries,. Over 3 million products sold in 12 months with a year limited warranty, Sell smartphones, tablets, laptops books, watches, video games and Lego, Get a free instant item valuation, ship your item for free and get paid, No fees for sellers buyers pay no fees up $50 items. Depop promises not to share your details with third parties. I am currently studying towards my MA in Strategic Fashion Marketing at the University of the Arts London: London College of Fashion. Press J to jump to the feed. Depop is powered by a team of around 400 people, dedicated to our mission of fashion for a better future. As said, when selling at Vinted, a buyer covers all transaction-related fees, including shipping costs. Depop is the community-powered fashion marketplace to buy and sell unique fashion, with over 30 million registered users in more than 150 countries. Please see our privacy policy for more information. However, we have a pretty simple solution that gets around this restriction. This is a fluid generation defying categorisation in every sense, Levato says. It is largely targeted at Gen Z shoppers Who we are. . In case of sender and recipient from the same country or within a radius of 10 kilometres, the user can deliver/collect in person, but no payment in cash. Depop is all about community - it's the buyers and sellers who use Depop who make it such a great place. Founded in 2011, Depop has its headquarters in London and offices in Manchester, New York, Los Angeles and Sydney with 400 employees dedicated to helping build a new fashion system that's kinder. Aria says it's because Depop is about people, not just about the item being sold "We're not just a platform for people to buy and sell. Generation Z, which spans consumers aged 7 to 25, will make up 40 per cent of the luxury market by 2035, according to consultancy Bain & Company, which has collaborated with Depop on the report. We'll now take an exciting leap forward as part of the Etsy family, benefiting from Josh's and his team's expertise, and the resources of a much larger company whose values are so aligned with ours here at Depop. r/Depop omfgf i thought this girl had her boob out in the 1st pic and ive been debating whether or not to tell her for like an hour (in case it was an accident) and just realised it was her ELBOW As a mobile app, it is available on iOS and Android platforms. This type of service is called Freight Forwarding. Depop is a place for anyone to discover and celebrate their style on their own terms, and to feel good about their fashion choices by extending the lives of millions of garments. Comments, questions or feedback? Instead, the app uses an escrow service that holds the money in your Vinted wallet until the buyer gets and accepts the item. Bahrain. $5+ thereafter, Sell computers, home tech, cameras, phones, watches, laptops and tablets, Sell your item directly to buyer and get paid the next day via PayPal, 180+ million buyers, easy listings and sell directly from the smartphone, List up to 200 items for free every month, and only pay when they sell, Global brand trust and seller protections in place from buyers scams. 22. Depop is a social shopping app that has been described as a mix of eBay and Instagram. Also, as a Depop seller, you're responsible for contacting a buyer when something's wrong with the order. I think because a lot of my customers come from communities where fashion hadnt really considered them, they kind of gravitate to everything, he says. However, these can be dealt with by using Packlink to find the cheapest parcel delivery service.
A lot of that comes with fluidity and merging the lines of gender that we knew in fashion traditionally., Toms customers are tough to define or categorise. Prices for clothing range from $3-$15. We love Depop's rapidly growing GMS and loyal and engaged customer base, excellent user engagement and unit economics, opportunities to expand value added seller services, clear path for geographic expansion, and highly scalable, 'capital light' operating model. Adwoa Owusu-Darko (@minisworld) even runs a mentorship business, teaching others how to mirror her Depop success. When expanded it provides a list of search options that will switch the search inputs to match the current selection. Its user interface is modeled after that of Instagram, and users can sell items by posting pictures of them to their profiles, along with descriptions, hashtags, and prices. I'm trying to figure out an alternative atm 10 To some degree, we have a closer relationship with Gen Z than almost any other institution in the world at scale, says Depop chief brand officer Peter Semple. At Etsy, we promise to treat your data with respect and will not share your information with any third party. Overview. Date of release is date of access.Figures have been rounded. They come to Depop for the clothes, but stay for the culture. Sellers who live in countries where depop is not popular wouldn't be able to sell anything if they couldn't do it. The company has attracted a predominantly younger audience thanks to its social media savvy and messaging on environmental and ethical shopping. Therefore, Vinted might be a better choice for a casual seller interested in making some extra money. And forget all about contacting their support. A lot of people in my generation have that set-up income from a few little baskets, he says. It has also only made headway in the Australia, Italy, the UK and US, with the last two countries responsible for about 70% of downloads in 2020 and 2021. Both platforms are dominant forces, connecting 21 and 26 million users worldwide, respectively. We see significant opportunities for shared expertise and growth synergies across what will now be a tremendous 'house of brands' portfolio of individually distinct, and very special, ecommerce brands.". You have successfully joined our subscriber list. With a website and apps available on both iOS and Android, Depop promises to be an online shopping. View original content:http://www.prnewswire.com/news-releases/etsy-to-acquire-global-fashion-resale-marketplace-depop-301303695.html. . But why Depop? Depop should know. It's easy to get started - just create an account to start selling. Depop was founded in 2011 by entrepreneur Simon BeckermanDepop is a buy and sell app that allows you to sell items. eBay allows you to edit and crop your photos compared to Depop, which lacks that functionality. . A DJ performs at the launch of social shopping app Depop's 3-month pop-up at Selfridges on August 01, 2019 in London, England. Depop is a place for anyone to discover and celebrate their style on their own terms, and to feel good about their fashion choices by extending the lives of millions of garments. If y'all remember I posted how I got banned for hashtags that were FINE. Etsy, Inc. (Etsy) operates two-sided online marketplaces that connect people and buyers, and sellers around the world. Depop | Buy & Sell Clothing 12+ Resale Marketplace for Clothes Depop Ltd #60 in Shopping 4.8 399.1K Ratings Free iPhone Screenshots Buy. DollarBreak is reader-supported, when you sign up through links on this post, we may receive compensation. Some 75 per cent of Depop sellers also buy from the platform, an ecosystem that allows them to straddle the worlds of the consumer and of business however they wish, says Semple. Fluidity extends beyond gender identity. You can also email them at support@depop.com. Contact Data CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For . We're a community that inspires and connects our users." Get full access to all features within our Business Solutions. Depop significantly grows Etsy's GMS in the apparel sector, which was ~$1 billion in 2020. Depop's beginnings were also relatively humble. Listings also aren't required to look overly professional, which makes the Vinted app better suited for casual sellers who want to clear their inventory. And it doesn't look like there's a way to list items from a computer. Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2022, Quarterly smartphone market share worldwide by vendor 2009-2022, Number of apps available in leading app stores Q3 2022, Research expert specializing in economy and politics, Profit from additional features with an Employee Account. [13], Most of the items sold on Depop are used, vintage, and repurposed pieces of clothing. This presentation contains forward-looking statements within the meaning of the federal securities laws. In light of such risks, readers are cautioned not to place undue reliance on such forward-looking statements. More so, what you earn on Swappa depends on the item you are selling and its condition. This press release (including statements quoted in this press release) contains forward-looking statements within the meaning of the federal securities laws. Depop - buy, sell, discover unique fashion Log in Menswear Womenswear Jewellery Beauty More Brands Top searches Find your style Shop the biggest brands you know and love. Poshmark is available in the U.S., Canada, India, and Australia, but at this time Poshers cannot buy or sell outside of their country. Whatever you're into, find the item and the seller for you on Depop. Vinted, for instance, is generally more focused on the transactional side. Others also described the platform as an easy-to-use selling platform. Since Depop has attracted young people, you can expect a lot of clothing and other items to be approved by the millenials. Popular sellers on the platform often go on to become social media influencers. In an age of financial uncertainty, young people are taking finances into their own hands. Sky warns: "Don't let your photo be more distracting than the product you're selling.". Essentially, you'll be able to get any item from the Depop store shipped to Europe, all for a crazy low price. As of today, Vinted is available in 15 countries. Depop is the community-powered fashion marketplace to buy and sell unique fashion, with over 30 million registered users in more than 150 countries. Enter your email to receive editorial updates, special offers and breaking news alerts from Vogue Business. Selling on Depop and Vinted looks pretty similar, requiring sellers to engage in increasing sales. Vinted is more transactional. Etsy CEO on how $1.6 billion deal for Depop could help the company grow. That way youll receive all of your items together instead of one at a time. E-commerce firm Etsy announced Wednesday that it is buying the secondhand fashion app Depop for $1.62 billion. I agree to receive your newsletter. As of 2021, Depop has over 30 million users, 90 percent of whom are under the age of 26. On the other hand, Depop sellers can absorb the postage cost by hiding it in the item's price as free shipping. The app is also meant for buyers looking for items they can buy. Now, were assuming that you neither own a house there or do you have relatives living there, so how is this even possible? In 2021, Depop was acquired by Etsy for $1.6 billion. Over half of respondents said they buy secondhand to find one of a kind pieces, while 45 per cent use it to tap into trends. The Depop social shopping app blends the aesthetic and social aspects of Instagram with the buy-and-sell format of eBay. The first difference is the market available. Following the close of this transaction, Etsy Inc. will operate three highly differentiated, non-commoditized and loved ecommerce brands: Etsy, Reverb, and Depop. Sign up to our newsletter for a truly global perspective on the fashion industry.