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. ", 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. The platform is very similar to other online marketplaces like eBay, Facebook Marketplace, Mercari, or Poshmark. Use Ask Statista Research Service. Depop is a peer-to-peer social shopping app based in London that first launched in 2011. Etsy CEO Josh Silverman called the start-up the"resale home for Gen Z consumers. Now, were assuming that you neither own a house there or do you have relatives living there, so how is this even possible? Moreover, we operate in a very competitive and rapidly changing environment. Then you can access your favorite statistics via the star in the header. 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. Depop, on the other hand, is a better choice for a small business. However, these can be dealt with by using Packlink to find the cheapest parcel delivery service. To receive packages from the United States, youre going to need to have an address based there. 4 locations detected. Enter your username, password, and country, Connect your Depop account to your PayPal address, No limit to to the type of products you can sell, 2 days to ship the item after getting paid, High user traffic over 187 million users, Promote your listing from as little as 1%. It really makes us think about, how do we serve these journeys? statistic alerts) please log in with your personal account. Depop is the app for you . 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. What are the Other Ways to Make Money on Depop? Available on Android and iOS (free) Another great app for the starving student! 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. "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. [11][12], Depop is a social e-commerce platform where users can buy and resell their items. Depop is a peer-to-peer social e-commerce company based in London, with additional offices in Manchester, Milan and New York City. That presents a challenge for Depop. It is one of the few success stories of the dot-com bubble, which . Depop's CEO Maria Raga said, "We're on an incredible journey building Depop into a place where the next generation comes to explore unique fashion and be part of a community that's changing the way we shop. It was established in 2011 by Simon Bekerman and now has over 15 million . After submitting your request, you will receive an activation email to the requested email address. Founded in the U.K. in 2011, Depop lets people buy and sell used clothes through its online marketplace. Vinted also works as an intermediary between sellers and buyers, helping resolve issues. In other words, Depop is basically Instagram, but with more transparency about the fact that it's selling you stuff. Depop is powered by young influencers like 20-year-old Moira Campos who is one of Depop's top sellers. 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 Take up to four photos. 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. And it doesn't look like there's a way to list items from a computer. Forward-looking statements involve substantial risks and uncertainties that may cause actual results to differ materially from those that we expect. By Lisa Lacy. 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. Its important to have cultural fluidity, she says. $1 Billion made by the Depop community to date. Its a fairly common question we often see asked, and the answer isnt all that clear. The company has attracted a predominantly younger audience thanks to its social media savvy and messaging on environmental and ethical shopping. You have successfully joined our subscriber list. [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. 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. But why Depop? To receive the Vogue Business newsletter, sign up here. Posting and selling using the platform are completely free, and the buyer pays the fees associated with the sale. 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 paid fast when your item sells. Its because theyre reliable, dont charge a bunch of taxes, and offer affordable rates. As said, when selling at Vinted, a buyer covers all transaction-related fees, including shipping costs. These are called 'Shop Policies,' stating whether you accept returns as a seller. Alternatives to Depop. 26M+ registered users over 150 countries. 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. Profit from the additional features of your individual account. [7] Depop was the official app sponsor of the 2016 Vans Warped Tour. Phones,laptops,wearables,Tablets,video games, Electronic, fashion,health, and beauty products, No limit to the type of products you can sell. The Depop social shopping app blends the aesthetic and social aspects of Instagram with the buy-and-sell format of eBay. Following the close of this transaction, Etsy Inc. will operate three highly differentiated, non-commoditized and loved ecommerce brands: Etsy, Reverb, and Depop. Depop is a peer-to-peer social e-commerce company based in London, with additional offices in Manchester, Milan and New York City. What distinguishes Depop from Vinted is its emphasis on social features, working as a social network app in addition to being a reselling marketplace. Phone: (718) 880-3660. p:718 880-3660. Sky warns: "Don't let your photo be more distracting than the product you're selling.". 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.". Expands our TAM in a large and fast-growing market, category or geography: Depop is expected to extend Etsy's market opportunity in the high frequency apparel sector, specifically in the fast-growing resale space. Depop should know. 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. 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. Growing up in a hyper-connected world, Gen Z is more vulnerable to macro level uncertainties, the report finds. However, while the idea behind the two is similar, there are some key differences between Vinted and Depop. trend cycle continues to quicken, posing a challenge for fashion brand marketers seeking to connect with younger consumers. I agree to receive your newsletter. To answer that, we must take a closer look at the two. hi! 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. Prices for clothing range from $3-$15. Deb Wasser
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. The company, founded by Simon Beckerman in 2011, is headquartered in London, with offices in Manchester, New York, Los Angeles and Sydney, with approximately 400 employees dedicated to its mission of building the world's most diverse progressive home of fashion, that's kinder on the planet and kinder to people. GET SERVICE INSTANTLY . Disclosure. Online marketplace Etsy announced . An overwhelming 90 per cent of its active users are under the age of 25. 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. You can also move the money to your bank account once its transferred to PayPal. These companies provide addresses for this specific use case, and theyll even help ship your packages directly to you. Here are some vital facts and figures about how Depop works today. 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. Thrift stores, in the Poway area, are pretty cheap. 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?. There are plenty of resources available to help you cleared up any questions you may have. Overview. "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. Access to this and all other statistics on 80,000 topics from, Show sources information ", 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. The company has an expanding global presence being popularised in countries such as the United States, United Kingdom, Australia, New Zealand, and Italy. Sellers and users weigh in on the debate", "Everyone's Favorite Thrifting App Favors Thin White Models", https://en.wikipedia.org/w/index.php?title=Depop&oldid=1141140101, Online marketplaces of the United Kingdom, Articles lacking reliable references from September 2021, Articles with unsourced statements from August 2022, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 23 February 2023, at 15:28. Depop's beginnings were also relatively humble. 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. Subscribe to receive weekly Side Hustle recommendations. Its report, released this Monday, unpacks Gen Zs collective behaviours in a pandemic world and beyond. Learn more about how Statista can support your business. I am currently studying towards my MA in Strategic Fashion Marketing at the University of the Arts London: London College of Fashion. Founded in 2011, Depop has attracted mainly younger users thanks to its social media savvy. Here in the United States, it doesn't. Swappa also focuses on used electronics compared to Depop, which deals in clothing, shoes, and other streetwear. . Vinted is more transactional. 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. my buyer. Unlike Depop sellers, Vinted sellers don't pay any fees. 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. 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. 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? 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. Algeria. Our company was founded in 2005 and is headquartered in Brooklyn, New York. Etsy CEO on how $1.6 billion deal for Depop could help the company grow. [8][bettersourceneeded], In June 2019, Depop raised $62 million in Series C from General Atlantic to fund its expansion. 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. But let's talk about differences. 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. 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 The Depop study echoes this point, with respondents underlining fluid identity when buying and selling clothes. When it comes to newness, this generation has a new lens through which they see new.. r/Depop W for me today after 10 incompetent depop support representatives finally got someone to review my account suspension. 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. Do NOT buy from GB via Depop if you live in the EU. Dont expect easy answers. Discover unique fashion. Depop is a peer-to-peer social shopping app. 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. Depop was founded in 2011 by entrepreneur Simon BeckermanDepop is a buy and sell app that allows you to sell items. The only thing that I would change are the "plus . Depop will remain headquartered in London, Etsy said, operating as a standalone business run by current management. Depop also requires sellers to make their offers look more professional, which is why it's better suited for small businesses. At Etsy, we promise to treat your data with respect and will not share your information with any third party. It is largely targeted at Gen Z shoppers According to positive reviewers, Depop allowed them to start their small business. Compare features, ratings, user reviews, pricing, and more from Depop competitors and alternatives in order to make an informed decision for your business. Depop is the community-powered fashion marketplace to buy and sell unique fashion, with over 30 million registered users in more than 150 countries. Skepta Nike Air Max Plus, SK Air Blue Tailwind Size: UK 8.5 Condition / info: 10/10 Condition, Worn A Handful Of Times perfect condition PLEASE READ International Shipping is available for all countries UK 48 Tracked Royal Mail Shipping to all UK orders Items are shipped within 48 hours Guaranteed All of our items are second hand unless stated otherwise. In June 2021, Etsy announced it would acquire Depop for $1.6 billion in cash. Depop's GMS grew at a compounded annual growth rate of nearly 80% from 2017-2020. If you look around online, youll find a bunch of companies in the U.S. offering physical United States addresses to customers located overseas. Sign up to our newsletter for a truly global perspective on the fashion industry. The app has over 10 million users and is available in over 100 countries. It allows users to buy and sell items, most of which are used . This button displays the currently selected search type. If you are an admin, please authenticate by logging in again. <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. The company will send a six-digit code that you can use to verify your account. More so, what you earn on Swappa depends on the item you are selling and its condition. Etsy has sufficient available liquidity to fund the acquisition. 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. Depop's 2020 gross merchandise sales (GMS) and revenue were approximately $650 million and $70 million, respectively, each increasing over 100% year-over-year. 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. 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. Popular sellers on the platform often go on to become social media influencers. Date of release is date of access.Figures have been rounded. [3] Paolo Barberis and Nana Bianca were two of the first investors in the platform in 2012 with a seed investment. Its not so long ago that many people wouldnt have thought of themselves as potential resellers, he says. Press question mark to learn the rest of the keyboard shortcuts. On the other hand, Depop sellers can absorb the postage cost by hiding it in the item's price as free shipping. Get this delivered to your inbox, and more info about our products and services. 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. However, it soon started to spread across other markets, eventually becoming a worldwide marketplace for second-hand clothing. Etsy is buying secondhand fashion app Depop for $1.62 billion in a deal primarily consisting of cash. The stock was up about 6.7% Wednesday afternoon. The company is headquartered in London, with offices in Manchester, New York, Los Angeles and Sydney. Poshmark is currently only available in the United States, Canada, Australia, India, and the United Kingdom. [16] Celebrities have resold their own items on Depop, with some donating proceeds to charitable causes. 147. Founded in the U.K. in 2011, Depop lets people buy and sell used clothes through. i sold a pair of shoes on depop about ten days ago, and they were delivered on wednesday, 1/15/2021. Also, while Vinted focuses mainly on the European market, Depop is much more popular in the United States. [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. We estimate that one in four 15-24-year old's in Australia are on Depop," says Aria Wigneswaran, Country Manager Australia, Depop.. Have to complete the purchase to update your shipping address - Depop If you have several packages, MyUS can bundle the packages into one order. Swappa is a peer-to-peer marketplace that allows you to sell and buy used electronics. The first difference is the market available. The content on dollarbreak.com is for informational and educational purposes only and cannot replace any professional financial advice. Forward-looking statements include statements relating to our financial guidance for the first quarter of 2023 and key factors impacting our guidance; the impact of our Right to Win and other growth strategies, including our strategies for integrating our House of Brands marketplaces, marketing and product initiatives, and investments and other levers of growth on our business and operating results, including future gross merchandise sales (GMS) and revenue growth; our ability to attract, engage, and retain buyers and sellers; the global macroeconomic uncertainty and volatility, including inflation and rising interest rates; the status and impact of the macroeconomic headwinds and tailwinds, including additional or unforeseen impacts that COVID-19 and general market, political, economic, and business conditions may have on our business, strategy, operating results, key metrics, financial condition, profitability, and cash flows; our opportunity to reach new buyers; and uncertainty regarding and changes in overall levels of consumer spending and e-commerce generally. Investor Relations Manager, Advances leadership in community-driven and differentiated marketplaces, Etsy to acquire global fashion resale marketplace Depop. It has also only made headway in the Australia, Italy, the UK and US, with the last two countries responsible for about 70% of downloads in 2020 and 2021. Depop seller Adwoa Owusu-Darko has run her brand Mini's World (@minisworld) since 2016. Depop is a reliable website that allows you to buy and sell 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 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. - 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 Then I sent them this. Depop's mission statement is "to change the way people buy, sell and think about fashion." Is Depop second hand? Platforms should cater for all levels of buyer and seller, says Depops Semple. Please read rules before posting. It must've been cuz I mentioned the BBB. Ticker: ETSY. 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. That leads us to the question, which of these two reselling platforms is better? <br><br>In the year between finishing my undergraduate degree and beginning my postgraduate studies, I completed as many contract internship . This partly refers to self-identity. June 2, 2021. (November 8, 2021). [14] Users can also follow other sellers, whose posts will appear in their feeds. This means that you will need a U.S., Canada, Australia, India, or UK billing and shipping address, as well as a U.S., Canada, Australia, India, or UK internet provider (IP) address. One user even commented that they were able to receive payments fast. Etsy's mission is to keep commerce human, and we're committed to using the power of business to strengthen communities and empower people. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. We're a community that inspires and connects our users." She has about 40,000 followers, and selling clothes online has become a full-time job for her. 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. Retailers and brands might consider how they can inspire Gen Z to be entrepreneurs. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Click here to view 60+ Websites to Sell Stuff. Up to 140,000 new listings every day. We're excited to build a 'house of brands' where the whole is greater than the sum of its parts.". This type of service is called Freight Forwarding. Both apps also target slightly different audiences. All Rights Reserved. The deal marks the biggest acquisition yet for Etsy, which went public on the New York Stock Exchange in 2015. 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.
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 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 . Sell. On this Wikipedia the language links are at the top of the page across from the article title. This is a fluid generation defying categorisation in every sense, Levato says. Depop boasts approximately 30 million registered users across 150 countries. Depop is a popular second-hand fashion marketplace app with a global community of buyers and sellers. Press J to jump to the feed. For Semple, physical events remain hugely relevant. It allows users to buy and sell items, most of which are used and vintage pieces of clothing. Statista. Bahrain. The site . You can also email them at support@depop.com. As a Premium user you get access to background information and details about the release of this statistic. While both websites are free, Swappa requires you to pay a small 3% fee once your item sells compared to Depop, which charges 10%. A 2020 Hulu study found 75 per cent of Gen Z respondents rejected easy categorisation of their race, gender or sexuality, while 60 per cent felt their identity was linked to a broad mix of factors, including race, culture and language.