You can also save money on shipping by using Packlink to compare couriers and find the most cost-efficient solution. 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. Sure, both platforms offer similar services, but their approach is different. That way youll receive all of your items together instead of one at a time. To minimize the likelihood of being scammed, you should only make a transaction through the app and not offline or off the platform. As of March 31, 2021, Etsy had approximately $2.0 billion in total liquidity consisting of $1.8B in cash, cash equivalents and short and long term investments on its balance sheet and an undrawn $200 million revolving credit facility. There are plenty of resources available to help you cleared up any questions you may have. She has about 40,000 followers, and selling clothes online has become a full-time job for her. Etsy, Inc. operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world. In interviews with nearly a dozen Depop users, BoF heard numerous reports of women being inundated with sexual messages. Dont worry, youre not going to need to splash out on a property, there is a much cheaper solution. Depop is the community-powered fashion marketplace to buy and sell unique fashion, with over 30 million registered users in more than 150 countries. Using a Vinted or Depop app, users can sell, buy, or exchange their used clothes. Compare features, ratings, user reviews, pricing, and more from Depop competitors and alternatives in order to make an informed decision for your business. I always say we owe ourselves authenticity. 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. Depop is a popular second-hand fashion marketplace app with a global community of buyers and sellers. 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? [3] Paolo Barberis and Nana Bianca were two of the first investors in the platform in 2012 with a seed investment. For Semple, physical events remain hugely relevant. The user base on Depop is also younger than on Vinted, which, in exchange, has a more international user base. What are the Other Ways to Make Money on Depop? ThredUP currently ships to the United States and Canada, with no current plans to expand to additional countries at this time. Get paid fast when your item sells. And then I still do a few [dance] teaching jobs and dance performance jobs on the side. On paper, Depop and Vinted offer the exact same services, connecting second-hand clothing sellers with buyers. Countries. All Rights Reserved. Shares of Etsy have more than doubled in the last 12 months thanks to an e-commerce boom resulting from the coronavirus pandemic. Here are some vital facts and figures about how Depop works today. Depop should know. It is one of the few success stories of the dot-com bubble, which . DollarBreak is reader-supported, when you sign up through links on this post, we may receive compensation. Sign up for free newsletters and get more CNBC delivered to your inbox. . 16.6M+ items are available for sale on Depop. In an age of financial uncertainty, young people are taking finances into their own hands. It allows sellers to reach a broader audience thanks to its social features and emphasises a more professional approach when creating posts. Depop does not offer other ways to make money apart from selling items such as clothes, shoes, and other items. Poshmark is available in the U.S., Canada, India, and Australia, but at this time Poshers cannot buy or sell outside of their country. One user even commented that they were able to receive payments fast. Resale has emerged as a popular side-hustle; Depop and social media allow Gen Z to cultivate their businesses in a non-traditional and deeply personal way. If you experience any issues with this process, please contact us for further assistance. A Division of NBCUniversal. 6) The app must also have an express courier function, home collection/delivery, users can do everything without leaving home. A paid subscription is required for full access. Alternatives to Depop. Pay for the item, tell the seller where to ship it, and pay for it. BROOKLYN, N.Y., June 2, 2021 /PRNewswire/ --Etsy, Inc. (NASDAQ: ETSY), 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 Depop, a privately-held, community-led, and purpose-driven marketplace for unique fashion for $1.625 billion consisting primarily of cash, subject to certain adjustments for Depop's working capital, transaction expenses, cash and indebtedness, and certain deferred and unvested equity for Depop management and employees. Click here to view 60+ Websites to Sell Stuff. Dont expect easy answers. An overwhelming 90 per cent of its active users are under the age of 25. Get full access to all features within our Business Solutions. Selling on Depop and Vinted looks pretty similar, requiring sellers to engage in increasing sales. Depop boasts approximately 30 million registered users across 150 countries. Depop promises not to share your details with third parties. [11][12], Depop is a social e-commerce platform where users can buy and resell their items. LocationsView all. 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 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. Founded in the U.K. in 2011, Depop lets people buy and sell used clothes through. 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. Online marketplace Etsy announced . Once you make a sale, Depop will send the money to the PayPal account that youve already linked to your account. Send your buyer a message thanking them and letting them know when you plan to ship; Ship ASAP using tracked delivery. VP of Investor Relations, Jessica Schmidt [16] Celebrities have resold their own items on Depop, with some donating proceeds to charitable causes. Accessed March 04, 2023. https://www.statista.com/statistics/1122928/depop-monthly-active-users-uk/, Airnow. "To some degree, we have a closer relationship with Gen Z . Swappa also focuses on used electronics compared to Depop, which deals in clothing, shoes, and other streetwear. 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. Some of the motivations for using Depop come as no surprise 75 per cent of those surveyed are looking to reduce clothing consumption. Depop is a peer-to-peer social e-commerce company based in London, with additional offices in Manchester, Milan and New York City. The app is also meant for buyers looking for items they can buy. --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. Vinted is more transactional. Depop significantly grows Etsy's GMS in the apparel sector, which was ~$1 billion in 2020. 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. 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 Both platforms are dominant forces, connecting 21 and 26 million users worldwide, respectively. The Company operates through four segments: Etsy, Reverb, Depop, and Elo7. Monthly active users (MAU) of the Depop app in the United Kingdom (UK) from January 2018 to October 2021 (in millions) [Graph]. The content on dollarbreak.com is for informational and educational purposes only and cannot replace any professional financial advice. In 2012, Depops headquarters were moved to London, and the company opened additional offices in Milan and New York City. The first difference is the market available. New risks emerge from time to time. - 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 Weve talked about fluidity as much more than gender for some time at Depop, says chief brand officer Peter Semple. While no seller likes to pay fees, they are integral to online selling. Essentially, the more you engage, be it by liking items, listing products, following other users, etc., the more sales you're likely to generate. Have to complete the purchase to update your shipping address - Depop statistic alerts) please log in with your personal account. [Online]. As a part of our mission to expand the joy and community of gaming to every player in the world, we're excited to announce we're bringing a preview of PC Game Pass to 40 new countries for the first time ever, comprising: Albania. Algeria. You can unsubscribe anytime. Sr. Director of Investor Relations, Patricia Cruz Depop Summary. 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. Take up to four photos. Discover unique fashion. 26M+ registered users over 150 countries. To contact Depop customer service, go to the help desk page, enter your details and submit. 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. 12.9% of the sale price or lower, plus $0.30 per order. Like Depop, eBay charges a commission of 10% on all the items sold. Etsy has sufficient available liquidity to fund the acquisition. Depop, for example, charges its sellers 10% of each sale plus the possible PayPal fee for one's country. Many sellers model the clothes they sell themselves. Depop is headquartered in London, England and Los Angeles, California. In addition, Etsy, Inc. owns Reverb, a leading global online marketplace dedicated to buying and selling new, used, and vintage musical instruments. Depop also requires sellers to make their offers look more professional, which is why it's better suited for small businesses. Depop was founded in 2011 by entrepreneur Simon BeckermanDepop is a buy and sell app that allows you to sell items. Popular sellers on the platform often go on to become social media influencers. Poshmark is currently only available in the United States, Canada, Australia, India, and the United Kingdom. Use Ask Statista Research Service. This button displays the currently selected search type. With roughly 30 million registered users across nearly 150 countries,.