As said, when selling at Vinted, a buyer covers all transaction-related fees, including shipping costs. However, while the idea behind the two is similar, there are some key differences between Vinted and Depop. Take up to four photos. Swappa also focuses on used electronics compared to Depop, which deals in clothing, shoes, and other streetwear. Etsy has sufficient available liquidity to fund the acquisition. US Teens Sell More on Depop Than Their UK Counterparts - Business Insider For sellers, we offer a range of tools and services that address key business needs. 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. Depop is the app for you . Take a picture of the item, describe it, set a price for it, and post. Depop, on the other hand, is a better choice for a small business. The only pricey item I've found is a pantsuit that cost around $20. This partly refers to self-identity. 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. Growing up in a hyper-connected world, Gen Z is more vulnerable to macro level uncertainties, the report finds. 147. Ship. In the post-pandemic era, music and entertainment experiences that go beyond buying and selling will be much-needed by Gen Z, he says. [16] Celebrities have resold their own items on Depop, with some donating proceeds to charitable causes. You can unsubscribe anytime. What countries do you ship to? - thredUP Adwoa Owusu-Darko (@minisworld) even runs a mentorship business, teaching others how to mirror her Depop success. The 35 Best Student Apps You Shouldn't Live Without - CareerAddict She has about 40,000 followers, and selling clothes online has become a full-time job for her. Available on Android and iOS (free) Another great app for the starving student! The second-hand market is projected to grow at a 39% CAGR from 2019-2024 in the United States, reaching $64 billion, and to grow to twice the size of fast fashion on a global basis.1 Starting first in the U.K. and moving into the U.S. and Australia, Depop now has a community of approximately 30 million registered users across nearly 150 countries. A lot of people in my generation have that set-up income from a few little baskets, he says. With 4 million active buyers and 2 million active sellers in 2020, we believe Depop's cohort behavior is particularly impressive: for example, in 2020, 75% of GMS was from existing cohorts; ~75% of sellers were also buyers; and, on average, sellers sold approximately 10 items and buyers bought approximately 6 items. The stock was up about 6.7% Wednesday afternoon. Sign up to our newsletter for a truly global perspective on the fashion industry. Subscribe to receive weekly Side Hustle recommendations. Depop, on the other hand, while having a user base of over 26 million, is only available in 6 countries. If you are an admin, please authenticate by logging in again. Vinted is more transactional. A replay of the video webcast will be available through the same link following the conference call starting at 10:30 a.m. Eastern Time today for at least three months thereafter. Sign up for free newsletters and get more CNBC delivered to your inbox. The default refresh interval is a random number between 1 and 3 seconds. As for withdrawal methods, eBay offers PayPal and direct deposit compared to Depop, which has PayPal.While Depop is filled with people selling Y2K and vintage items, eBay is better for items that are rare or hard to find. These are called 'Shop Policies,' stating whether you accept returns as a seller. With a background in economics and now e-business, she has joined Dollarbreak to share her experience, to help individuals make sound financial decisions revolving around budgeting, spending, money making and investing. i sold a pair of shoes on depop about ten days ago, and they were delivered on wednesday, 1/15/2021. Our company was founded in 2005 and is headquartered in Brooklyn, New York. Why do we think MyUS is the best? Once the package is received, the freight forwarder will ship the package directly to you in Europe. Decluttr is an online app that allows you to sell your used media. 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. Press J to jump to the feed. As covered, Vinted connects 21 million users worldwide, operating in 15 countries. "Monthly Active Users (Mau) of The Depop App in The United Kingdom (Uk) from January 2018 to October 2021 (in Millions). 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. 90% of Depop's active users are under the age of 26.Depop. However, these can be dealt with by using Packlink to find the cheapest parcel delivery service. "Etsy acquires clothing resale platform Depop for $1.6 billion", "Gen Z Designers Made It Big on This App. [9], In 2020, Depop's gross merchandise sales and revenue both more than doubled to $650 million and $70 million respectively. What Is Depop? Everything You Need to Know About the Resale App Access to this and all other statistics on 80,000 topics from, Show sources information What are the Other Ways to Make Money on Depop? Having a rating of 1.7 on Reviews.io, 3.3 on Trustpilot, and 1.7 on Sitejabber, the website has attracted both positive and negative reviews. <br><br>In the year between finishing my undergraduate degree and beginning my postgraduate studies, I completed as many contract internship . [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. "To some degree, we have a closer relationship with Gen Z . A copy of the presentation that will be covered on the conference call will also be posted to our website. The vintage items are also great since fashion often brings back past trends from time to time. Depop Review 2023 - Plans, Pros, Cons and Alternatives - DollarBreak Selling on Poshmark vs. Selling on Depop - Vendoo Send your buyer a message thanking them and letting them know when you plan to ship; Ship ASAP using tracked delivery. Today, Depop is a place where millions of users come to celebrate their style and discover culture. Engineering Manager Job London England UK,IT/Tech 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. r/Depop on Reddit: Contacted depop on Twitter about the banner showing Discover independent brands making waves and the creators behind them. The brand registered unprecedented growth in May and July 2020, with. "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," Silverman said in a statement Wednesday. It must've been cuz I mentioned the BBB. Etsy CEO Josh Silverman called the start-up the"resale home for Gen Z consumers. Since Depop works more like a social network platform, it allows sellers to reach more users with their listings. It allows sellers to reach a broader audience thanks to its social features and emphasises a more professional approach when creating posts. statistic alerts) please log in with your personal account. I am currently studying towards my MA in Strategic Fashion Marketing at the University of the Arts London: London College of Fashion. 12.9% of the sale price or lower, plus $0.30 per order. While some users complained of poor customer service, Depop can help you make extra money online. Depop Summary. The deal marks the biggest acquisition yet for Etsy, which went public on the New York Stock Exchange in 2015. While both websites are free, Swappa requires you to pay a small 3% fee once your item sells compared to Depop, which charges 10%. The network currently has more than 15 million users in 147 countries, skewed heavily towards those aged under 26, with plans to expand across Europe and Asia. June 2, 2021. Depop, on the other hand, while having a user base of over 26 million, is only available in 6 countries. They come to Depop for the clothes, but stay for the culture. Depop was founded in 2011 and has over 26 million registered users in more than 150 countries. 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. Vinted also works as an intermediary between sellers and buyers, helping resolve issues. OpenAI explain why some countries are excluded from - nature.com What Is Depop? The Clothing Resale App That Gen-Zers Are Using - CNBC Forward-looking statements include statements related to our potential addressable market,the potential benefits of the acquisition of Depop, expected impact of the acquisition of Depop on Etsy's future financial performance and the potential impact on Etsy's consolidated financial results, the anticipated timing of the closing of the acquisition of Depop, the anticipated impact of applying Etsy's expertise to Depop's business and the potential of Depop's business. Shares our two-sided marketplace business model: Depop is a peer-to-peer marketplace with similar capital-light operating model and financial characteristics. Is Depop popular in Romania and Eastern European countries - reddit For Semple, physical events remain hugely relevant. Once you make a sale, Depop will send the money to the PayPal account that youve already linked to your account. <p>Depop is the community-powered fashion marketplace to buy and sell unique fashion, with over 30 million registered users in more than 150 countries. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. This type of service is called Freight Forwarding. ", 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. You can also save money on shipping by using Packlink to compare couriers and find the most cost-efficient solution. Etsy Names Kruti Patel Goyal Chief Executive Officer of Depop and To make sure everything arrives in one clean piece, pack your items well; Keep your buyer informed. It's also recommended to refresh and bump your listings for them to stay at the top of the search. Paypal withholds those Depop users funds from any items sold for a minimum of 21 days from the date of sale[citation needed]. Here are eight brands that have collaborated with Depop to creatively reach young shoppers as they're shopping secondhand: Papa John's Food brands have been making their own merch to connect with young consumers for quite some time, and Papa John's has put their own spin on the marketing trend. In 2020, Depops gross merchandise sales and revenue increased to $650 million and $70 million, respectively. While some users complained of poor customer service, Depop can help you make extra money online. It really makes us think about, how do we serve these journeys? The second-hand market is projected to grow at a 39% CAGR from 2019-2024 in the United States, reaching $64 billion, and to grow to twice the size of fast fashion on a global basis.1 Starting first in the U.K. and moving into the U.S. and Australia, Depop now has a community of approximately 30 million registered users across nearly 150 countries. The transaction is currently expected to close during the third quarter of 2021, subject to satisfaction of customary closing conditions, including antitrust review in the United States and the United Kingdom. In light of such risks, readers are cautioned not to place undue reliance on such forward-looking statements. 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. Depop is not available in some countries from summer (I cant remember exact month when this happened). 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. Now imagine if someone came through and bought a pair of pants for $12 . Etsy to acquire global fashion resale marketplace Depop Create an account to follow your favorite communities and start taking part in conversations. Depop profit calculator - Calculate your Depop and Paypal fees, shipping amount, taxes, revenue and profits for every product you sell on your Depop store. 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. As in most cases, it depends. By Lisa Lacy. [5] Depop expanded and opened additional offices in Milan and New York City. 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 promises not to share your details with third parties. depop settings on computer A sub for discussing all things Depop. Also, as a Depop seller, you're responsible for contacting a buyer when something's wrong with the order. Etsy to acquire global fashion resale marketplace Depop Depop is a reliable website that allows you to buy and sell items. You can also email them at support@depop.com. The Dark Side of Depop | BoF - The Business of Fashion [17], As of 2021, Depop has over 21 million users, 90 percent of whom are under the age of 26. In June 2021, Etsy announced it would acquire Depop for $1.6 billion in cash. Depop. - 30M+ registered users in over 150 countries - 32M+ items are available for sale on Depop - $1 Billion made by the Depop community to date How to join Depop Depop, for example, charges its sellers 10% of each sale plus the possible PayPal fee for one's country. Please read the full Terms of use and Privacy Policy. Unfortunately, some users complained that the platform would hold your money for a long time before closing your accounts. Founded in 2011, Depop has attracted mainly younger users thanks to its social media savvy. Then I sent them this. But their interest in secondhand clothes also has significance beyond save-the-planet instincts. New risks emerge from time to time. Chart. Does the Depop online store ship items overseas to Europe? The freight forwarder accepts the package on your behalf. 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. I'm trying to figure out an alternative atm 10 Others also described the platform as an easy-to-use selling platform. It provides a mobile marketplace that enables individuals to buy and sell their items on iOS and Android platforms. Social selling site Depop on why quantity is the key to quality 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. Following the close of this transaction, Etsy Inc. will operate three highly differentiated, non-commoditized and loved ecommerce brands: Etsy, Reverb, and Depop. Date of release is date of access.Figures have been rounded. Shipping guide - Worldwide - Depop help GB That way youll receive all of your items together instead of one at a time. Depop is expected to be accretive to Etsy's top line growth rate and modestly dilutive to Etsy's adjusted EBITDA margin. [19][20] According to Taylor Lorenz of The Atlantic, Depop draws in Gen Z users through being easily accessible and having affordable prices, and much of its user base uses it to track trends in fashion. It's a bit more buyer-friendly, encouraging users to make quick transactions and enabling them that by intuitive and straightforward service. Describe what you're selling. To download the Depop mobile app, go to Google Play and click download. The platform is very similar to other online marketplaces like eBay, Facebook Marketplace, Mercari, or Poshmark. Our community is made up of people who are creating a new fashion system by establishing new trends and making new from old. Which one is better, though? Platforms should cater for all levels of buyer and seller, says Depops Semple. Enter your email to receive editorial updates, special offers and breaking news alerts from Vogue Business. Please create an employee account to be able to mark statistics as favorites. <br><br>I have demonstrated skills and experience in public relations, fashion marketing, and fashion communications. Vinted operate differently, with money not being transferred to your account immediately after the purchase. Is Depop Down? Why Is Depop Not Working Right Now? Get The Truth Here I agree to receive your newsletter. But let's talk about differences. The website was launched in 2011 as a social network for PIG magazine readers wanting to buy featured items. Therefore, Vinted might be a better choice for a casual seller interested in making some extra money. 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 Depop is a website and mobile app available in over 150 countries with over 26 million active users. However, we have a pretty simple solution that gets around this restriction. Founded in the U.K. in 2011, Depop lets people buy and sell used clothes through its online marketplace. The company has an expanding global presence being popularised in countries such as the United States, United Kingdom, Australia, New Zealand, and Italy. We disclaim any obligation to update forward-looking statements, except as required by law. Swappa is a peer-to-peer marketplace that allows you to sell and buy used electronics. The company is headquartered in London, with offices in Manchester, New York, Los Angeles and Sydney. ", 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. Many sellers model the clothes they sell themselves. Dont worry, youre not going to need to splash out on a property, there is a much cheaper solution. 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. Sellers can set up their Depop shop and quickly list . Both apps also target slightly different audiences. [Online]. Forward-looking statements include all statements that are not historical facts. [8][bettersourceneeded], In June 2019, Depop raised $62 million in Series C from General Atlantic to fund its expansion. SourceForge ranks the best alternatives to Depop in 2022. Depop is a legitimate app that allows sellers and buyers to trade their items hence not a scam. If you have several packages, MyUS can bundle the packages into one order. [15] Depop users are also encouraged by the platform to use other social networking services such as Instagram to promote their shop profiles. An overwhelming 90 per cent of its active users are under the age of 25. Community Affiliates Manager, Depop Socialfixt Depop is a popular second-hand fashion marketplace app with a global community of buyers and sellers. As soon as this statistic is updated, you will immediately be notified via e-mail. Available everywhere. Depop seller Adwoa Owusu-Darko has run her brand Mini's World (@minisworld) since 2016. And it doesn't look like there's a way to list items from a computer. When expanded it provides a list of search options that will switch the search inputs to match the current selection. ETSY. The company has an expanding global presence being popularised in countries such as the United States, United Kingdom, Australia, New Zealand, and Italy. to incorporate the statistic into your presentation at any time. Click here to view 60+ Websites to Sell Stuff. However, we have a pretty simple solution that gets around this restriction. 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. Depop - buy, sell, discover unique fashion In, Airnow. Etsy, Inc. (Etsy) operates two-sided online marketplaces that connect people and buyers, and sellers around the world. Depop is planning to run in-person events for later this year, similar to its 2019 Depop live series in New York and London, which brought together sellers and performers to create physical resale spaces alongside an events programme. So, when you want to order restricted items from the Depop store, you simply enter the address MyUS provided and get your packages shipped there. Its because theyre reliable, dont charge a bunch of taxes, and offer affordable rates. Does Depop Ship to Europe?[2023] (Answered) - uniexpress GT This transaction is an ideal fit with Etsy's marketplace M&A criteria: Aligns with Etsy mission, strategy and values: Depop shares Etsy's DNA, with a parallel growth strategy that highlights sellers' unique merchandise by improving search and discovery, driving human connections, and building marketplace trust. eBay allows you to edit and crop your photos compared to Depop, which lacks that functionality. . r/Depop W for me today after 10 incompetent depop support representatives finally got someone to review my account suspension. 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. As a Premium user you get access to the detailed source references and background information about this statistic. Bahrain. Depop's 2020 gross merchandise sales (GMS) and revenue were approximately $650 million and $70 million, respectively, each increasing over 100% year-over-year. As of today, Vinted is available in 15 countries. Essentially, the more you engage, be it by liking items, listing products, following other users, etc., the more sales you're likely to generate. Also, while Vinted focuses mainly on the European market, Depop is much more popular in the United States. These risks and uncertainties include: (1) the level of demand for our services or products sold in our marketplaces and our ability to support our recent growth; (2) the importance to our success of the trustworthiness of our marketplaces and our ability to attract and retain active and engaged communities of buyers and sellers; (3) risks related to the COVID-19 pandemic; (4) the fluctuation of our quarterly operating results; (5) our failure to meet our publicly announced guidance or other expectations; (6) if we or our third-party providers are unable to protect against technology vulnerabilities, service interruptions, security breaches, or other cyber incidents; (7) our dependence on continued and unimpeded access to third-party services, platforms, and infrastructure; (8) macroeconomic events that are outside of our control; (9) operational and compliance risks related to our payments systems; (10) our ability to recruit and retain employees; (11) our ability to compete effectively; (12) our ability to enhance our current offerings and develop new offerings to respond to the changing needs of sellers and buyers; (13) our ability to demonstrate progress against our environmental, social, and governance Impact strategy; (14) our efforts to expand internationally; (15) our ability to successfully integrate and receive the expected benefits from the Depop and Elo7 acquisitions; (16) acquisitions that may prove unsuccessful or divert management attention; (17) regulation in the area of privacy and protection of user data; and (18) litigation and regulatory matters, including intellectual property claims. 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. 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. Depop is a social shopping app that has been described as a mix of eBay and Instagram.