The only pricey item I've found is a pantsuit that cost around $20. Well positioned to benefit from Etsy's expertise to accelerate growth and value creation: Depop is an early-stage business that we believe can leverage our proven value creation roadmap to drive further growth and profitability. eBay allows you to edit and crop your photos compared to Depop, which lacks that functionality. Dont worry, youre not going to need to splash out on a property, there is a much cheaper solution. By providing your email address below, you are providing consent to Etsy to send you the requested Investor Email Alert updates. We disclaim any obligation to update forward-looking statements, except as required by law. This partly refers to self-identity. Depop users who opt for using Royal Mail are penalised by being forced to pay Depop sales fees out of pocket and wait up to one month to receive their earnings. "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. To use individual functions (e.g., mark statistics as favourites, set It really makes us think about, how do we serve these journeys? Depop is a peer-to-peer social e-commerce company based in London, with additional offices in Manchester, Milan and New York City. don't give up! 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. . Place your item in a box or shipping envelope, available at office supply stores or the post office. If you're trying to browse thredUP from another country, you unfortunately won't be able to access our site and will have restricted website access. Users can pay for items using PayPal. You can change the interval in the system settings. If you look around online, youll find a bunch of companies in the U.S. offering physical United States addresses to customers located overseas. Disclosure. In November 2019, Business of Fashion reported that users within the Depop app were receiving sexually suggestive messages.[23]. Otherwise, all transactions made in the app are protected, so it should be safe to sell on Depop. I'm trying to figure out an alternative atm 10 Why do we think MyUS is the best? Date of release is date of access.Figures have been rounded. Depop is a social shopping app that has been described as a mix of eBay and Instagram. Depop payments are transferred directly to your PayPal account, and no intermediary is involved in handling transactions. However, we have a pretty simple solution that gets around this restriction. 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. Like Depop, eBay charges a commission of 10% on all the items sold. Etsy CEO Josh Silverman called the start-up the"resale home for Gen Z consumers. Pay for the item, tell the seller where to ship it, and pay for it. Etsy expects to finalize the deal by the third quarter of 2021. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Depop promises not to share your details with third parties. As you can see, while looking practically identical at first glance, Depop and Vinted are two sides of the same coin. "To some degree, we have a closer relationship with Gen Z . Bahrain. 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 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. November 8, 2021. To contact Depop customer service, go to the help desk page, enter your details and submit. The only thing that I would change are the "plus . Business Summary. Platforms should cater for all levels of buyer and seller, says Depops Semple. It allows sellers to reach a broader audience thanks to its social features and emphasises a more professional approach when creating posts. Sell. 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. The company has attracted a predominantly younger audience thanks to its social media savvy and messaging on environmental and ethical shopping. Following the close of this transaction, Etsy Inc. will operate three highly differentiated, non-commoditized and loved ecommerce brands: Etsy, Reverb, and Depop. That leads us to the question, which of these two reselling platforms is better? 6) The app must also have an express courier function, home collection/delivery, users can do everything without leaving home. It allows users to buy and sell items, most of which are used and vintage pieces of clothing. [13], Most of the items sold on Depop are used, vintage, and repurposed pieces of clothing. More so, what you earn on Swappa depends on the item you are selling and its condition. And forget all about contacting their support. [9], In 2020, Depop's gross merchandise sales and revenue both more than doubled to $650 million and $70 million respectively. 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. Unfortunately, Depop doesnt ship directly to Europe. The default refresh interval is a random number between 1 and 3 seconds. Vinted is more transactional. Get this delivered to your inbox, and more info about our products and services. Also, while Vinted focuses mainly on the European market, Depop is much more popular in the United States. 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. Unlike Depop sellers, Vinted sellers don't pay any fees. The number of app users in the United Kingdom went from. Bank of America reveals the winning market share gainers with more room to run, Goldman Sachs upgrades this internet of things stock which it sees surging 60%, JPMorgan upgrades Procter & Gamble, says consumer staples stock could be an earnings compounder. Retailers and brands might consider how they can inspire Gen Z to be entrepreneurs. Airnow. To receive the Vogue Business newsletter, sign up here. Gen Z fluidity extends to the mix of digital and physical experiences, with physical still considered very important even for a generation of digital natives. $1 Billion made by the Depop community to date. As of today, Vinted is available in 15 countries. 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. 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. Company summary. 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. [8][bettersourceneeded], In June 2019, Depop raised $62 million in Series C from General Atlantic to fund its expansion. LocationsView all. To receive packages from the United States, youre going to need to have an address based there. Press question mark to learn the rest of the keyboard shortcuts. After submitting your request, you will receive an activation email to the requested email address. We want to hear from you. Depop is designed for sellers who want to sell items such as clothing, shoes, clothes, vintage clothes and items, and cheap streetwear. Simon Beckerman and Maria Raga are the co-founders and current owners of Depop. How do you do the magic of taking people on the algorithmically understood journey of things they might be looking for, but then continually inject inspiration and surprise?. How to Deliver Items from the Depop Online Store to Europe <u>Company Description</u><br><br>Depop is the community-powered fashion marketplace to buy and sell unique fashion, with over 30 million registered users in more than 150 countries. [5] Depop expanded and opened additional offices in Milan and New York City. [3] Paolo Barberis and Nana Bianca were two of the first investors in the platform in 2012 with a seed investment. It provides a mobile marketplace that enables individuals to buy and sell their items on iOS and Android platforms. The website was launched in 2011 as a social network for PIG magazine readers wanting to buy featured items. In March 2016, former CEO, Runar Reistrup, stated that Depop's growth was achieved through word of mouth. You need at least a Starter Account to use this feature. 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. The content on dollarbreak.com is for informational and educational purposes only and cannot replace any professional financial advice. Discover unique fashion. Poshmark is best known for women's fashion, trendy brands, and higher-end clothing and accessories. Depop also pays via PayPal compared to Decluttr, which uses Direct deposit, PayPal, and Check. Both platforms are dominant forces, connecting 21 and 26 million users worldwide, respectively. Conduct your own research and seek the advice of a licensed financial advisor. Others also described the platform as an easy-to-use selling platform. 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, for example, charges its sellers 10% of each sale plus the possible PayPal fee for one's country. Whatever you're into, find the item and the seller for you on Depop. The company has an expanding global presence being popularised in countries such as the United States, United Kingdom, Australia, New Zealand, and Italy. Depop proudly states that 90 percent of its active users are under 26. 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 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 place for anyone to discover and . Ebay has a working international search so sellers aren't forced to do it, on depop you have to change your location manually to see listings from other countries. Shares of Etsy have more than doubled in the last 12 months thanks to an e-commerce boom resulting from the coronavirus pandemic. The app has over 10 million users and is available in over 100 countries. You can then. 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 Our company was founded in 2005 and is headquartered in Brooklyn, New York. r/Depop W for me today after 10 incompetent depop support representatives finally got someone to review my account suspension. 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. Online marketplace Etsy announced . Instead, the app uses an escrow service that holds the money in your Vinted wallet until the buyer gets and accepts the item. Swappa also focuses on used electronics compared to Depop, which deals in clothing, shoes, and other streetwear. 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. Depop has around 30 million users in over 150 countries, the majority of whom are young people. 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 who live in countries where depop is not popular wouldn't be able to sell anything if they couldn't do it. 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 . Tom Evans says Depop has become his primary source of income. The app is currently available only in European countries, but it's expected to soon be available in the US too. 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). Which one is better, though? Get paid for the item and start the shipping process. Secondhand may be sustainable but its also cool. Both apps also make it very easy to post your items. If you think about selling your old clothes online, two reselling apps immediately spring to mind - Vinted and Depop. 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. With roughly 30 million registered users across nearly 150 countries,. Vinted and Depop have different payment policies. Paypal withholds those Depop users funds from any items sold for a minimum of 21 days from the date of sale[citation needed]. Ticker: ETSY. The first difference is the market available. Depop allows its sellers to include rules buyers can see when scrolling through their posts. Depop | Buy & Sell Clothing on the App Store This app is available only on the App Store for iPhone. [16] Celebrities have resold their own items on Depop, with some donating proceeds to charitable causes. MyUS is one of the best freight forwarders available and its our favorite. Ganni, Patagonia and Reformation join pilot to decarbonise fashion, US retailers prepare for new normal in 2023 after rocky year, Chanel names Whitney Peak as new face of Coco Mademoiselle, The Long View by Vogue Business: Gen Zs power will reshape luxury, Post-pandemic playbook: What Gen Z want from physical retail, Fluidity, glamour and pop culture: The top trends of 2021, Enter your email to receive editorial updates, special offers and breaking news alerts from, From TikTok to Depop: Fashions new trend funnel. Forward-looking statements include all statements that are not historical fact. Have to complete the purchase to update your shipping address - Depop Available everywhere. The company is headquartered in London, with offices in Manchester, New York, Los Angeles and Sydney. Hadiyah Hussain is studying at Central Saint Martins in London alongside her Depop career. The freight forwarder accepts the package on your behalf. In the post-pandemic era, music and entertainment experiences that go beyond buying and selling will be much-needed by Gen Z, he says. 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. 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?. 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. But let's talk about differences. Who we are. We disclaim any obligation to update forward-looking statements. Then you can access your favorite statistics via the star in the header. Click here to view 60+ Websites to Sell Stuff. Launched in Lithuania in 2008, Vinted quickly expanded to 10 more countries, becoming an instant success among clothes reselling apps. This button displays the currently selected search type. statistic alerts) please log in with your personal account. Compare features, ratings, user reviews, pricing, and more from Depop competitors and alternatives in order to make an informed decision for your business. 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. <br><br>I have demonstrated skills and experience in public relations, fashion marketing, and fashion communications. 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. [11][12], Depop is a social e-commerce platform where users can buy and resell their items. Describe what you're selling. Depop is powered by young influencers like 20-year-old Moira Campos who is one of Depop's top sellers. 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. Some of the motivations for using Depop come as no surprise 75 per cent of those surveyed are looking to reduce clothing consumption. Take up to four photos. Others were also unhappy with the customer service describing it as unresponsive. As soon as this statistic is updated, you will immediately be notified via e-mail. Here are some vital facts and figures about how Depop works today. my buyer. An overwhelming 90 per cent of its active users are under the age of 25. Depop boasts approximately 30 million registered users across 150 countries. Depop, on the other hand, while having a user base of over 26 million, is only available in 6 countries. With its app available on iOS and Android, Depop promises to be an online shopping site for most items, including designer, preloved, vintage, sneakers, and streetwear. Get the item and o rate your experience with the seller. OLIO. Goldman Sachs & Co. LLC served as exclusive financial advisor to Etsy, Deloitte as due diligence advisors, and Fenwick & West LLP and Allen & Overy LLP served as Etsy's legal advisors. Depop was founded in 2011 by entrepreneur Simon BeckermanDepop is a buy and sell app that allows you to sell items. Forward-looking statements represent our beliefs and assumptions only as of the date of this press release. You can unsubscribe anytime. People want the opportunity to buy and sell, but also they want this inspirational layer and entertainment through their experiences.. 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. 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. That presents a challenge for Depop. Sellers can set up their Depop shop and quickly list . 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. . 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. These companies provide addresses for this specific use case, and theyll even help ship your packages directly to you. 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. Press J to jump to the feed. A sub for discussing all things Depop. 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. 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. The platform is very similar to other online marketplaces like eBay, Facebook Marketplace, Mercari, or Poshmark. Otherwise, all transactions made in the app are protected, so it should be safe to sell on Depop. "Etsy acquires clothing resale platform Depop for $1.6 billion", "Gen Z Designers Made It Big on This App. 4 locations detected. Type Subsidiary . Its not so long ago that many people wouldnt have thought of themselves as potential resellers, he says. Data is a real-time snapshot *Data is delayed at least 15 minutes. 90% of Depop's active users are under the age of 26.Depop. There are plenty of resources available to help you cleared up any questions you may have. [4] Its headquarters were moved to London in 2012. ", Depop's CEOMaria Ragasaid in a statement that Depop is "where the next generation comes to explore unique fashion and be part of a community that's changing the way we shop. Like Depop, Decluttr is free to download and use. Depop is all about community - it's the buyers and sellers who use Depop who make it such a great place. Depop reselling is unethical, not because reselling is unethical in general, but because of how it's done. Swappa is a peer-to-peer marketplace that allows you to sell and buy used electronics. Depop reports having over 30 million registered users in over 150 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. Founded in the U.K. in 2011, Depop lets people buy and sell used clothes through. Depop will remain headquartered in London, Etsy said, operating as a standalone business run by current management. Today, Depop is a place where millions of users come to celebrate their style and discover culture. Investor Relations Manager, Advances leadership in community-driven and differentiated marketplaces, Etsy to acquire global fashion resale marketplace Depop. Unfortunately, some users complained that the platform would hold your money for a long time before closing your accounts. But why Depop? 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. eBay is an e-commerce platform, at first only providing customer-to-customer auction services, expanding into business-to-consumer shortly afterwards. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. Currently, you are using a shared account. In 2021, Depop was acquired by Etsy for $1.6 billion. 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. 2023 CNBC LLC. 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. Depop should know. Depop's 2020 gross merchandise sales (GMS) and revenue were approximately $650 million and $70 million, respectively, each increasing over 100% year-over-year. Buyers come to Etsy to be inspired and delighted by items that are crafted and curated by creative entrepreneurs. Moreover, we operate in a very competitive and rapidly changing environment. Items are usually secondhand or homemade. To make sure everything arrives in one clean piece, pack your items well; Keep your buyer informed. Depop is the community-powered fashion marketplace to buy and sell unique fashion, with over 30 million registered users in more than 150 countries. - 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 If you are an admin, please authenticate by logging in again. 22. Whether they find something online and then go to an in-store event, Gen Z want complete fluidity between the physical and digital world of brands, even if they interact with the brand through a third-party retailer, says Bains Federica Levato. With its app available on iOS and Android, Depop promises to be an online shopping site for most items, including designer, preloved, vintage, sneakers, and streetwear. We're a community that inspires and connects our users." As a mobile app, it is available on iOS and Android platforms. The marketplaces will operate independently, while benefiting from shared expertise in areas such as product, marketing, technology, and customer support. Prices for clothing range from $3-$15. Forward-looking statements involve substantial risks and uncertainties that may cause actual results to differ materially from those we expect. They come to Depop for the clothes, but stay for the culture. Depop's mission statement is "to change the way people buy, sell and think about fashion." Is Depop second hand? Depop does not offer other ways to make money apart from selling items such as clothes, shoes, and other items. 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 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. As a Premium user you get access to the detailed source references and background information about this statistic. What distinguishes Depop from Vinted is its emphasis on social features, working as a social network app in addition to being a reselling marketplace. The mission of my brand is to represent the underrepresented, says Depop seller Tom Evans (@areaeighteen). Phone: (718) 880-3660. p:718 880-3660. You then use this address for your deliveries, and theyll automatically forward them to your home country. 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. In addition, Etsy, Inc. owns Reverb, a leading global online marketplace dedicated to buying and selling new, used, and vintage musical instruments. For Gen Z, the trend cycle continues to quicken, posing a challenge for fashion brand marketers seeking to connect with younger consumers. DollarBreak is reader-supported, when you sign up through links on this post, we may receive compensation. Our primary marketplace, Etsy.com, is the global destination for unique and creative goods. Sure, both platforms offer similar services, but their approach is different. Chart. Sky warns: "Don't let your photo be more distracting than the product you're selling.". In June 2021, Etsy announced it would acquire Depop for $1.6 billion in cash. Vinted operate differently, with money not being transferred to your account immediately after the purchase. It's also recommended to refresh and bump your listings for them to stay at the top of the search. Do NOT buy from GB via Depop if you live in the EU. Take a picture of the item, describe it, set a price for it, and post. 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.