Depop is the community-powered fashion marketplace to buy and sell unique fashion, with over 30 million registered users in more than 150 countries. Depop's 2020 gross merchandise sales (GMS) and revenue were approximately $650 million and $70 million, respectively, each increasing over 100% year-over-year. 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. Depop profit calculator - Calculate your Depop and Paypal fees, shipping amount, taxes, revenue and profits for every product you sell on your Depop store. Send your buyer a message thanking them and letting them know when you plan to ship; Ship ASAP using tracked delivery. Etsy is buying secondhand fashion app Depop for $1.62 billion in a deal primarily consisting of cash. With roughly 30 million registered users across nearly 150 countries,. Depop is designed for sellers who want to sell items such as clothing, shoes, clothes, vintage clothes and items, and cheap streetwear. If you think about selling your old clothes online, two reselling apps immediately spring to mind - Vinted and Depop. In the 2000's, eBay went on a spending spree that saw it taking ownership of PayPal, Skype and Stubhub, although it has since relinquished ownership of all three businesses. If you experience any issues with this process, please contact us for further assistance. 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. Depop is a peer-to-peer social e-commerce company based in London, with additional offices in Manchester, Milan and New York City. If you have several packages, MyUS can bundle the packages into one order. On paper, Depop and Vinted offer the exact same services, connecting second-hand clothing sellers with buyers. Forward-looking statements include all statements that are not historical facts. Depop promises not to share your details with third parties. We want to hear from you. And forget all about contacting their support. Get the item and o rate your experience with the seller. 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, on the other hand, while having a user base of over 26 million, is only available in 6 countries. Also, as a Depop seller, you're responsible for contacting a buyer when something's wrong with the order. 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. 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. Some of the motivations for using Depop come as no surprise 75 per cent of those surveyed are looking to reduce clothing consumption. How to sell. It incorporates fewer categories and focuses more on a buyer experience, allowing users to make offers faster. Like Depop, eBay charges a commission of 10% on all the items sold. Depop boasts approximately 30 million registered users across 150 countries. 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. Forward-looking statements involve substantial risks and uncertainties that may cause actual results to differ materially from those we expect. As for Vinted, they have a buyer's protection feature. however, despite it being 3-4 days since delivery (on the transaction info it actually says i should have gotten the money within 1 day of delivery), it still says my payment is on hold. Email us at feedback@voguebusiness.com. This is a fluid generation defying categorisation in every sense, Levato says. . Essentially, the more you engage, be it by liking items, listing products, following other users, etc., the more sales you're likely to generate. Market leadership, with authentic, organic brand traction: Depop deepens our reach into the Gen Z consumer, with differentiated brand strength, strong user engagement and unit economics. 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. Statista. Using a Vinted or Depop app, users can sell, buy, or exchange their used clothes. Swappa also focuses on used electronics compared to Depop, which deals in clothing, shoes, and other streetwear. It was established in 2011 by Simon Bekerman and now has over 15 million . 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.". Weve been a long time customer of MyUS, and weve never had any issues with their service. "Monthly Active Users (Mau) of The Depop App in The United Kingdom (Uk) from January 2018 to October 2021 (in Millions). To minimize the likelihood of being scammed, you should only make a transaction through the app and not offline or off the platform. Depop | Buy & Sell Clothing on the App Store This app is available only on the App Store for iPhone. Depop, for example, charges its sellers 10% of each sale plus the possible PayPal fee for one's country. As soon as this statistic is updated, you will immediately be notified via e-mail. [16] Celebrities have resold their own items on Depop, with some donating proceeds to charitable causes. <br><br>In the year between finishing my undergraduate degree and beginning my postgraduate studies, I completed as many contract internship . (November 8, 2021). i sold a pair of shoes on depop about ten days ago, and they were delivered on wednesday, 1/15/2021. The platform is very similar to other online marketplaces like eBay, Facebook Marketplace, Mercari, or Poshmark. You have successfully joined our subscriber list. Depop is headquartered in London, England and Los Angeles, California. Thats now the slogan of the brand I work with a lot of queer people, its just kind of asking them how they want to show up in the world. [11][12], Depop is a social e-commerce platform where users can buy and resell their items. The user base on Depop is also younger than on Vinted, which, in exchange, has a more international user base. You can also save money on shipping by using Packlink to compare couriers and find the most cost-efficient solution. However, we have a pretty simple solution that gets around this restriction. A lot of people in my generation have that set-up income from a few little baskets, he says. Please read rules before posting. 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. [6] Most active users of Depop are located in the United Kingdom, Australia, United States and Italy. Depop is a place for anyone to discover and . 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. November 8, 2021. eBay is one of the most popular platforms that allows you to buy and sell goods and services like electronics, clothing, and more. Date of release is date of access.Figures have been rounded. Place your item in a box or shipping envelope, available at office supply stores or the post office. , Aug 2, 2022 London-based social shopping platform app Depop was highly benefited by the e-commerce boom during the COVID-19 pandemic. Depop Summary. 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 platform only keeps your data as long as it needs it and encourages you not to share your personal information, like your phone number, address, or email address. by Jerret West, CVP Gaming Marketing, Xbox Feb 28, 2023 @ 12:01am. Depop is the community-powered fashion marketplace to buy and sell unique fashion, with over 30 million registered users in more than 150 countries. [13], Most of the items sold on Depop are used, vintage, and repurposed pieces of clothing. [8][bettersourceneeded], In June 2019, Depop raised $62 million in Series C from General Atlantic to fund its expansion. The marketplaces will operate independently, while benefiting from shared expertise in areas such as product, marketing, technology, and customer support. Its because theyre reliable, dont charge a bunch of taxes, and offer affordable rates. Following the close of this transaction, Etsy Inc. will operate three highly differentiated, non-commoditized and loved ecommerce brands: Etsy, Reverb, and Depop. For Semple, physical events remain hugely relevant. Depop should know. If y'all remember I posted how I got banned for hashtags that were FINE. Create an account to follow your favorite communities and start taking part in conversations. Etsy CEO Josh Silverman called the start-up the"resale home for Gen Z consumers. 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. Following the closing of the transaction, currently anticipated to occur during the third quarter of 2021, Depop will continue to be headquartered in London, England and operate as a standalone marketplace run by its existing leadership team. Users can buy and sell clothing, accessories, and beauty products. Sell. Get this delivered to your inbox, and more info about our products and services. ", Etsy said the transaction consisted primarily of cash and was "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.". Shop now Sell your way Its important to have cultural fluidity, she says. 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. By providing your email address below, you are providing consent to Etsy to send you the requested Investor Email Alert updates. 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. The first difference is the market available. 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.<br>The company was founded . Etsy's mission is to keep commerce human, and we're committed to using the power of business to strengthen communities and empower people. 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). [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. On this Wikipedia the language links are at the top of the page across from the article title. Data is a real-time snapshot *Data is delayed at least 15 minutes. In November 2019, Business of Fashion reported that users within the Depop app were receiving sexually suggestive messages.[23]. 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. 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. Depop significantly grows Etsy's GMS in the apparel sector, which was ~$1 billion in 2020. Algeria. It does come with fees and higher shipping costs. 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. Discover independent brands making waves and the creators behind them. Depop also pays via PayPal compared to Decluttr, which uses Direct deposit, PayPal, and Check. Depop was founded in 2011 by entrepreneur Simon Beckerman at an Italian technological incubator and business H-Farm start-up centre. Etsy, Inc. operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world. However, these can be dealt with by using Packlink to find the cheapest parcel delivery service. 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. GET SERVICE INSTANTLY . Ticker: ETSY. Find what you are looking for, negotiate with the seller through the apps inbuilt messenger. r/Depop W for me today after 10 incompetent depop support representatives finally got someone to review my account suspension. As you can see, while looking practically identical at first glance, Depop and Vinted are two sides of the same coin. eBay allows you to edit and crop your photos compared to Depop, which lacks that functionality. Depop is a reliable website that allows you to buy and sell items. Depop is the community-powered fashion marketplace to buy and sell unique fashion, with over 30 million registered users in more than 150 countries. Depop, on the other hand, is a better choice for a small business. 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. While both websites are free, Swappa requires you to pay a small 3% fee once your item sells compared to Depop, which charges 10%. Thrift stores, in the Poway area, are pretty cheap. The Depop social shopping app blends the aesthetic and social aspects of Instagram with the buy-and-sell format of eBay. <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. Paypal withholds those Depop users funds from any items sold for a minimum of 21 days from the date of sale[citation needed]. To receive packages from the United States, youre going to need to have an address based there. 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. DollarBreak is reader-supported, when you sign up through links on this post, we may receive compensation. One user even commented that they were able to receive payments fast. More so, what you earn on Swappa depends on the item you are selling and its condition. Our community is made up of people who are creating a new fashion system by establishing new trends and making new from old. There are plenty of resources available to help you cleared up any questions you may have. That way youll receive all of your items together instead of one at a time. The company has attracted a predominantly younger audience thanks to its social media savvy and messaging on environmental and ethical shopping. We estimate that one in four 15-24-year old's in Australia are on Depop," says Aria Wigneswaran, Country Manager Australia, Depop.. Etsy believes Depop has a highly differentiated position in the fast-growing resale space: Josh Silverman, Etsy, Inc. CEO, commented, "We are simply thrilled to be adding Depopwhat we believe to be the resale home for Gen Z consumersto the Etsy family. Depop has around 30 million users in over 150 countries, the majority of whom are young people. 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. Secondhand may be sustainable but its also cool. Essentially, you'll be able to get any item from the Depop store shipped to Europe, all for a crazy low price. Access to this and all other statistics on 80,000 topics from, Show sources information To minimize the likelihood of being scammed, you should only make a transaction through the app and not offline or off the platform. 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. "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 can use it to browse listings by your neighbours and local shops with a surplus of food or other products. Only limited information is available about the algorithms and modelling behind ChatGPT, which makes it difficult . [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]. Disclosure. However, while both apps provide practically the same services, they differ in a few key areas. 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. Retailers and brands might consider how they can inspire Gen Z to be entrepreneurs. While Decluttr focuses on selling media stuff such as used tech and media such as CDs, DVDs, and Blu-rays, Depops primary focus is selling clothing, shoes, and other items. They come to Depop for the clothes, but stay for the culture. Depop also requires sellers to make their offers look more professional, which is why it's better suited for small businesses. The platform's "Explore" page features items picked out by Depop staff. ETSY. To receive the Vogue Business newsletter, sign up here. It also gives the online marketplace a bigger footprint in fashion resale. What distinguishes Depop from Vinted is its emphasis on social features, working as a social network app in addition to being a reselling marketplace. While no seller likes to pay fees, they are integral to online selling. She has about 40,000 followers, and selling clothes online has become a full-time job for her. The only thing that I would change are the "plus . Phones,laptops,wearables,Tablets,video games, Electronic, fashion,health, and beauty products, No limit to the type of products you can sell. As in most cases, it depends. In addition, Etsy, Inc. owns Reverb, a leading global online marketplace dedicated to buying and selling new, used, and vintage musical instruments. A Division of NBCUniversal. 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. In, Airnow. It allows sellers to reach a broader audience thanks to its social features and emphasises a more professional approach when creating posts. Why do we think MyUS is the best? Depop's beginnings were also relatively humble. Available: https://www.statista.com/statistics/1122928/depop-monthly-active-users-uk/, Monthly active users (MAU) of the Depop app in the United Kingdom (UK) from January 2018 to October 2021, Available to download in PNG, PDF, XLS format, E-commerce revenue worldwide 2017-2027, by segment, Global fashion e-commerce market size 2021-2025, Worldwide online fashion retail revenue 2021-2025, by segment, Online fashion retail revenue change worldwide 2019-2025, by segment, Fashion e-commerce users worldwide 2021-2025, by segment, Online fashion retail revenue worldwide 2019-2025, by region, Online fashion retail revenue worldwide 2022, by country, Fashion e-commerce revenue in Asia 2021-2025, Fashion e-commerce revenue in North America 2021-2025, Fashion e-commerce revenue in Europe 2021-2025, Fashion retail sales channel share worldwide 2022, by region, Fashion: top 5 online stores worldwide in 2021, by net sales, CAGR of leading fashion e-commerce companies worldwide 2020-2022, nike.com: E-Commerce net sales from 2014 to 2022, zara.com: E-Commerce net sales from 2014 to 2022, asos.com: E-Commerce net sales from 2014 to 2022, zalando.de: E-Commerce net sales from 2014 to 2022, Leading fashion and apparel websites worldwide 2022, based on visit share, International site traffic on top fashion websites in select countries worldwide 2021, Increase of site traffic on top fashion websites in select countries 2021, Global online fashion shopping cart abandonment rate 2021, by type, EU consumers who use mobile apps for online shopping purposes 2021, E-commerce penetration rate among active Gen Z users China in 2020, by platform, Global consumers reasons for not liking online shopping 2021, Fashion purchases of consumers in 2020 and 2023, by channel, Usage of online reviews to help with fashion purchases 2021, by country, Share of shoppers buying clothes online after store visit in Europe 2021, by country, Monthly active users of VSCO in the UK 2017-2020, Monthly active users of Reddit in the UK 2017-2020, Location of purchase of second-hand shoes/footwear in the UK 2019, Facebook Messenger: number of monthly active users 2014-2017, Types of clothing items purchased second-hand in the UK 2019, Share of MAU on the smartphone and tablet market in Japan 2018, by brand, Forecast of the smartphone user penetration rate in Estonia 2015-2022, Forecast of smartphone user numbers in Slovenia 2015-2022, Forecast of smartphone user numbers in Denmark 2018-2025, Growth in the fashion market value in Russia 2012-2017, Forecast of the smartphone user penetration rate in Switzerland 2018-2024, Forecast of the smartphone user penetration rate in Lithuania 2015-2022, Forecast of the smartphone user penetration rate in the Czech Republic 2015-2022, Forecast of smartphone user numbers in Slovakia 2015-2022, Forecast of smartphone user numbers in the Czech Republic 2015-2022, Woven fashion import volume to Japan 2015-2020, Share of fashion import volume to Japan 2021, by region, Depop app downloads per month worldwide 2020-2022, Knitted fashion import volume to Japan 2015-2021, Monthly active users (MAU) of the Depop app in the United Kingdom (UK) from January 2018 to October 2021 (in millions), Find your information in our database containing over 20,000 reports. After submitting your request, you will receive an activation email to the requested email address. All Rights Reserved. Available on Android and iOS (free) Another great app for the starving student! Please see our privacy policy for more information. Make sure your clothing is the focal point of the picture by keeping the . 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. Posting and selling using the platform are completely free, and the buyer pays the fees associated with the sale. You can also move the money to your bank account once its transferred to PayPal.