ETSY. Secondhand may be sustainable but its also cool. Decide your price. From an enthusiasm for secondhand clothes to a sincere embrace of cultural fluidity, Generation Z are radically different to older demographic groups, according to wide-ranging research on their behaviours by Depop, the resale platform. Shares our two-sided marketplace business model: Depop is a peer-to-peer marketplace with similar capital-light operating model and financial characteristics. Please read the full Terms of use and Privacy Policy. Investor Relations Manager, Advances leadership in community-driven and differentiated marketplaces, Etsy to acquire global fashion resale marketplace Depop. You can also save money on shipping by using Packlink to compare couriers and find the most cost-efficient solution. 6) The app must also have an express courier function, home collection/delivery, users can do everything without leaving home. Depop's world-class management team and employees have done a fantastic job nurturing this community and driving organic, authentic growth in a way that aligns well with Etsy's DNA and mission of Keeping Commerce Human. As covered, Vinted connects 21 million users worldwide, operating in 15 countries. Etsy expects to finalize the deal by the third quarter of 2021. By Lisa Lacy. 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. Depop is designed for sellers who want to sell items such as clothing, shoes, clothes, vintage clothes and items, and cheap streetwear. Why do we think MyUS is the best? If you experience any issues with this process, please contact us for further assistance. Many sellers model the clothes they sell themselves. Depop is the community-powered marketplace app where people exploring style and the latest trends come to shop and sell circular fashion. Enter your email to receive editorial updates, special offers and breaking news alerts from Vogue Business. Depop's GMS grew at a compounded annual growth rate of nearly 80% from 2017-2020. Sky warns: "Don't let your photo be more distracting than the product you're selling.". When it comes to newness, this generation has a new lens through which they see new.. Vinted operate differently, with money not being transferred to your account immediately after the purchase. There are plenty of resources available to help you cleared up any questions you may have. 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. 16.6M+ items are available for sale on Depop. New risks emerge from time to time. You can sign up for additional alert options at any time. Now imagine if someone came through and bought a pair of pants for $12 . It must've been cuz I mentioned the BBB. DollarBreak is reader-supported, when you sign up through links on this post, we may receive compensation. 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. Shares of Etsy have more than doubled in the last 12 months thanks to an e-commerce boom resulting from the coronavirus pandemic. The company will send a six-digit code that you can use to verify your account. On this Wikipedia the language links are at the top of the page across from the article title. OpenAI explain why some countries are excluded from ChatGPT Download PDF. Email us at feedback@voguebusiness.com. Depop, a social shopping platform based in the United Kingdom, has been experiencing a reduction in monthly app downloads. 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. It's easy to get started - just create an account to start selling. Depop should know. As in most cases, it depends. The app is also meant for buyers looking for items they can buy. [15] Depop users are also encouraged by the platform to use other social networking services such as Instagram to promote their shop profiles. The only thing that I would change are the "plus . 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. Sure, both platforms offer similar services, but their approach is different. Both apps also target slightly different audiences. These businesses all share similar levers of growth to unlock value, including improving search and discovery, building human connections, and making selling and buying easier. Etsy has sufficient available liquidity to fund the acquisition. With a website and apps available on both iOS and Android, Depop promises to be an online shopping. Growing up in a hyper-connected world, Gen Z is more vulnerable to macro level uncertainties, the report finds. Type Subsidiary . Sr. Director of Investor Relations, Patricia Cruz Discover independent brands making waves and the creators behind them. Depop and Paypal have been accused of collectively deceiving users into using their preferred private shipping partner, Evri, previously known as Hermes, a courier firm marred by allegations that its drivers mishandle parcels. As a Premium user you get access to background information and details about the release of this statistic. It does come with fees and higher shipping costs. Paypal withholds those Depop users funds from any items sold for a minimum of 21 days from the date of sale[citation needed]. by Jerret West, CVP Gaming Marketing, Xbox Feb 28, 2023 @ 12:01am. Unfortunately, Depop doesnt ship directly to Europe. Otherwise, all transactions made in the app are protected, so it should be safe to sell on Depop. When expanded it provides a list of search options that will switch the search inputs to match the current selection. Depop reports having over 30 million registered users in over 150 countries. 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. Our primary marketplace, Etsy.com, is the global destination for unique and creative goods. 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. Bahrain. Instead, the app uses an escrow service that holds the money in your Vinted wallet until the buyer gets and accepts the item. 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. "Monthly active users (MAU) of the Depop app in the United Kingdom (UK) from January 2018 to October 2021 (in millions)." Get the item and o rate your experience with the seller. Which one is better, though? Depop is the community-powered fashion marketplace to buy and sell unique fashion, with over 30 million registered users in more than 150 countries. When we do drops, its really hard to kind of nail down an aesthetic.. Etsy, Inc. (Etsy) operates two-sided online marketplaces that connect people and buyers, and sellers around the world. I am currently studying towards my MA in Strategic Fashion Marketing at the University of the Arts London: London College of Fashion. OLIO. The platform is very similar to other online marketplaces like eBay, Facebook Marketplace, Mercari, or Poshmark. 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. 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. Depop was founded in 2011 by entrepreneur Simon BeckermanDepop is a buy and sell app that allows you to sell items. Depop does not offer other ways to make money apart from selling items such as clothes, shoes, and other items. 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. Etsy is buying secondhand fashion app Depop for $1.62 billion in a deal primarily consisting of cash. Dont worry, youre not going to need to splash out on a property, there is a much cheaper solution. Leading fashion e-commerce companies worldwide 2022, by market cap, EV/EBITDA of leading fashion e-commerce companies worldwide 2021-2023, Global consumers reasons for returning clothes bought online 2021, Main online impulse purchases worldwide 2022, by gender. These are called 'Shop Policies,' stating whether you accept returns as a seller. . Ticker: ETSY. 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. How to Deliver Items from the Depop Online Store to Europe As people are given access to so many different types of inspiration, whether its peer-to-peer or the mix of influence you can get from each type of influential figure, each individual is fluid in their style, their self-expression., Hadiyah Hussain communicates her South Asian culture through her brand on Depop, which features screen-printed pieces for all genders and sizes. It is one of the few success stories of the dot-com bubble, which . The buyer pays shipping costs and a small buyer protection fee when buying via Vinted. But their interest in secondhand clothes also has significance beyond save-the-planet instincts. A lot of people in my generation have that set-up income from a few little baskets, he says. Business Summary. To receive packages from the United States, youre going to need to have an address based there. Get paid for the item and start the shipping process. 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. 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. $1 Billion made by the Depop community to date. Unfortunately, Depop doesn't ship directly to Europe. But let's talk about differences. Simon Beckerman and Maria Raga are the co-founders and current owners of Depop. Compare features, ratings, user reviews, pricing, and more from Depop competitors and alternatives in order to make an informed decision for your business. Chart. Depop will remain headquartered in London, Etsy said, operating as a standalone business run by current management. We disclaim any obligation to update forward-looking statements. Please create an employee account to be able to mark statistics as favorites. For sellers, we offer a range of tools and services that address key business needs. To receive the Vogue Business newsletter, sign up here. 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. 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. 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? [11][12], Depop is a social e-commerce platform where users can buy and resell their items. As soon as this statistic is updated, you will immediately be notified via e-mail. That presents a challenge for Depop. Depop, for example, charges its sellers 10% of each sale plus the possible PayPal fee for one's country. In some cases, forward-looking statements can be identified by terms such as anticipate, believe, could, enable, estimate, expect, goal, intend, may, outlook, plan, potential, target, will, or similar expressions and derivative forms and/or the negatives of those words. Depop is a reliable website that allows you to buy and sell items. [9], In 2020, Depop's gross merchandise sales and revenue both more than doubled to $650 million and $70 million respectively. Depop significantly grows Etsy's GMS in the apparel sector, which was ~$1 billion in 2020. ", "Is Depop being gentrified? Essentially, you'll be able to get any item from the Depop store shipped to Europe, all for a crazy low price. It's also recommended to refresh and bump your listings for them to stay at the top of the search. Available on Android and iOS (free) Another great app for the starving student! Our company was founded in 2005 and is headquartered in Brooklyn, New York. Poshmark is best known for women's fashion, trendy brands, and higher-end clothing and accessories. Depop. Depop is a place for anyone to discover and . 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 . Depop has around 30 million users in over 150 countries, the majority of whom are young people. [5] Depop expanded and opened additional offices in Milan and New York City. $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. [Online]. You can only download this statistic as a Premium user. Discover unique fashion. "Monthly Active Users (Mau) of The Depop App in The United Kingdom (Uk) from January 2018 to October 2021 (in Millions). These companies provide addresses for this specific use case, and theyll even help ship your packages directly to you. For Gen Z, the trend cycle continues to quicken, posing a challenge for fashion brand marketers seeking to connect with younger consumers. And forget all about contacting their support. 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