Depop allows its sellers to include rules buyers can see when scrolling through their posts. With roughly 30 million registered users across nearly 150 countries,. With a website and apps available on both iOS and Android, Depop promises to be an online shopping. It's nothing else than a standard return policy where buyers can return items that might be damaged, missing, or cancelled. Our community is made up of people who are creating a new fashion system by establishing new trends and making new from old. Depop is a peer-to-peer social shopping app. 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. They come to Depop for the clothes, but stay for the culture. Also, while Vinted focuses mainly on the European market, Depop is much more popular in the United States. Conduct your own research and seek the advice of a licensed financial advisor. If you look around online, youll find a bunch of companies in the U.S. offering physical United States addresses to customers located overseas. In 2020, Depops gross merchandise sales and revenue increased to $650 million and $70 million, respectively. 90% of Depop's active users are under the age of 26.Depop. On the other hand, Depop sellers can absorb the postage cost by hiding it in the item's price as free shipping. However, while both apps provide practically the same services, they differ in a few key areas. The site . It caters to a variety of different fashion pieces such as designer, vintage, and streetwear. Depop is a legitimate app that allows sellers and buyers to trade their items hence not a scam. <br><br>I have demonstrated skills and experience in public relations, fashion marketing, and fashion communications. It's easy to get started - just create an account to start selling. Then I sent them this. As a Premium user you get access to the detailed source references and background information about this statistic. The stock was up about 6.7% Wednesday afternoon. You can then. The app is currently available only in European countries, but it's expected to soon be available in the US too. Online marketplace Etsy announced . 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. Etsy, Inc. (Etsy) operates two-sided online marketplaces that connect people and buyers, and sellers around the world. 26M+ registered users over 150 countries. Depop has around 30 million users in over 150 countries, the majority of whom are young people. Get full access to all features within our Business Solutions. $1 Billion made by the Depop community to date. You can use it to browse listings by your neighbours and local shops with a surplus of food or other products. Vinted, for instance, is generally more focused on the transactional side. Dont worry, youre not going to need to splash out on a property, there is a much cheaper solution. Press question mark to learn the rest of the keyboard shortcuts. Depop, a social shopping platform based in the United Kingdom, has been experiencing a reduction in monthly app downloads. ", She added: "Our community is made up of people who are creating a new fashion system by establishing new trends and making new from old. Depop proudly states that 90 percent of its active users are under 26. As Depop, which has 219 employees, struggles to police millions of users across multiple continents, the start-up is reckoning with dangers facing its young users that have plagued the internet since the early 1990s. Since Depop works more like a social network platform, it allows sellers to reach more users with their listings. As for Vinted, they have a buyer's protection feature. Compare Depop alternatives for your business or organization using the curated list below. Both apps implement slightly different structures, with Depop having a more 'social' feel, with buyers scrolling through listings like they were using Instagram or Facebook. [16] Celebrities have resold their own items on Depop, with some donating proceeds to charitable causes. Are you interested in testing our business solutions? Depop is a reliable website that allows you to buy and sell items. . Depop promises not to share your details with third parties. OLIO. It provides a mobile marketplace that enables individuals to buy and sell their items on iOS and Android platforms. As of today, Vinted is available in 15 countries. Depop is all about community - it's the buyers and sellers who use Depop who make it such a great place. Please read the full Terms of use and Privacy Policy. Previous investors HV Holtzbrinck Ventures, Balderton Capital, Creandum, Octopus Ventures, TempoCap and Sebastian Siemiatkowski also participated. A sub for discussing all things Depop. Swappa is a peer-to-peer marketplace that allows you to sell and buy used electronics. 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. The only thing that I would change are the "plus . Growing up in a hyper-connected world, Gen Z is more vulnerable to macro level uncertainties, the report finds. In, Airnow. In 2012, Depops headquarters were moved to London, and the company opened additional offices in Milan and New York City. . OpenAI explain why some countries are excluded from ChatGPT Download PDF. Investor Relations Manager, Advances leadership in community-driven and differentiated marketplaces, Etsy to acquire global fashion resale marketplace Depop. , Aug 2, 2022 London-based social shopping platform app Depop was highly benefited by the e-commerce boom during the COVID-19 pandemic. 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. "To some degree, we have a closer relationship with Gen Z . Poshmark is best known for women's fashion, trendy brands, and higher-end clothing and accessories. The freight forwarder accepts the package on your behalf. Fluidity extends beyond gender identity. Learn more about how Statista can support your business. Algeria. 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. 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. It's a bit more buyer-friendly, encouraging users to make quick transactions and enabling them that by intuitive and straightforward service. Also, while Vinted focuses mainly on the European market, Depop is much more popular in the United States. What distinguishes Depop from Vinted is its emphasis on social features, working as a social network app in addition to being a reselling marketplace. Its because theyre reliable, dont charge a bunch of taxes, and offer affordable rates. Depop was founded in 2011 and has over 26 million registered users in more than 150 countries. 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. As covered, Vinted connects 21 million users worldwide, operating in 15 countries. Enter your email to receive editorial updates, special offers and breaking news alerts from Vogue Business. Depop reselling is unethical, not because reselling is unethical in general, but because of how it's done. 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. Get paid for the item and start the shipping process. Credit Suisse served as exclusive financial advisor to Depop and Weil, Gotshal & Manges LLP served as its legal advisor. --Etsy, Inc., which operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world, has signed a definitive agreement to acquire. Secondhand may be sustainable but its also cool. Get Potential buyers to make bids for the item and agree on the final price. We'll now take an exciting leap forward as part of the Etsy family, benefiting from Josh's and his team's expertise, and the resources of a much larger company whose values are so aligned with ours here at Depop. About Depop Our leadership Facts and figures. to incorporate the statistic into your presentation at any time. If you think about selling your old clothes online, two reselling apps immediately spring to mind - Vinted and Depop. Please read rules before posting. 6) The app must also have an express courier function, home collection/delivery, users can do everything without leaving home. The company has an expanding global presence being popularised in countries such as the United States, United Kingdom, Australia, New Zealand, and Italy. I'm trying to figure out an alternative atm 10 To minimize the likelihood of being scammed, you should only make a transaction through the app and not offline or off the platform. Vinted and Depop have different payment policies. You can also move the money to your bank account once its transferred to PayPal. [14] Users can also follow other sellers, whose posts will appear in their feeds. In other words, Depop is basically Instagram, but with more transparency about the fact that it's selling you stuff. Press J to jump to the feed. The marketplaces will operate independently, while benefiting from shared expertise in areas such as product, marketing, technology, and customer support. 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 Platforms should cater for all levels of buyer and seller, says Depops Semple. It allows users to buy and sell items, most of which are used and vintage pieces of clothing. Show publisher information Make sure your clothing is the focal point of the picture by keeping the . More so, what you earn on Swappa depends on the item you are selling and its condition. Forward-looking statements represent our beliefs and assumptions only as of the date of this press release. Depop, for example, charges its sellers 10% of each sale plus the possible PayPal fee for one's country. Depop, on the other hand, while having a user base of over 26 million, is only available in 6 countries. This is a fluid generation defying categorisation in every sense, Levato says. 12.9% of the sale price or lower, plus $0.30 per order. "Etsy acquires clothing resale platform Depop for $1.6 billion", "Gen Z Designers Made It Big on This App. Business Summary. 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. Find what you are looking for, negotiate with the seller through the apps inbuilt messenger. One user even commented that they were able to receive payments fast. You then use this address for your deliveries, and theyll automatically forward them to your home country. In light of such risks, readers are cautioned not to place undue reliance on such forward-looking statements. Weve talked about fluidity as much more than gender for some time at Depop, says chief brand officer Peter Semple. 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. 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. Accessed March 04, 2023. https://www.statista.com/statistics/1122928/depop-monthly-active-users-uk/, Airnow. Comments, questions or feedback? Sell. The default refresh interval is a random number between 1 and 3 seconds. [3] Paolo Barberis and Nana Bianca were two of the first investors in the platform in 2012 with a seed investment. Take up to four photos. These risks and uncertainties include, among others, the possibility that the conditions to the closing of the acquisition of Depop may not be satisfied or waived or that other events may cause the acquisition to not be completed, the potential impact to the business of Depop or Depop's relationships with its marketplace community due to the announcement of the acquisition, Etsy's ability to successfully integrate the acquisition and execute on its business plan and 'house of brands' operating model, and general economic conditions, many of which are beyond Etsy's control, and other risks and uncertainties that are more fully described in our filings with the Securities and Exchange Commission, including in the section entitled "Risk Factors" in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 and subsequent reports that we file with the Securities and Exchange Commission. Etsy expects to finalize the deal by the third quarter of 2021. Depop's beginnings were also relatively humble. ", 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. November 8, 2021. As a mobile app, it is available on iOS and Android platforms. If y'all remember I posted how I got banned for hashtags that were FINE. GET SERVICE INSTANTLY . We want to hear from you. The vintage items are also great since fashion often brings back past trends from time to time. Disclosure. Gen Z, the next wave of luxury consumers, are a fluid generation who crave flexibility and think secondhand clothes are cool, according to new research by Depop, produced in collaboration with consultancy Bain. This type of service is called Freight Forwarding. [7] Depop was the official app sponsor of the 2016 Vans Warped Tour. I always say we owe ourselves authenticity. Etsy has sufficient available liquidity to fund the acquisition. Depop significantly grows Etsy's GMS in the apparel sector, which was ~$1 billion in 2020. Forward-looking statements involve substantial risks and uncertainties that may cause actual results to differ materially from those we expect. 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. ", "Is Depop being gentrified? 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 is the community-powered fashion marketplace to buy and sell unique fashion, with over 30 million registered users in more than 150 countries. To contact Depop customer service, go to the help desk page, enter your details and submit. 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. In addition, Etsy, Inc. owns Reverb, a leading global online marketplace dedicated to buying and selling new, used, and vintage musical instruments. Bahrain. [4] Its headquarters were moved to London in 2012. These companies provide addresses for this specific use case, and theyll even help ship your packages directly to you. You can also save money on shipping by using Packlink to compare couriers and find the most cost-efficient solution. 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?. . On paper, Depop and Vinted offer the exact same services, connecting second-hand clothing sellers with buyers. 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. uniexpressgt.com participates in various affiliate programs, and we sometimes get a commission through purchases made through our links. 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. Since Depop has attracted young people, you can expect a lot of clothing and other items to be approved by the millenials. Data is a real-time snapshot *Data is delayed at least 15 minutes. Like Depop, eBay charges a commission of 10% on all the items sold. Register in seconds and access exclusive features. It also gives the online marketplace a bigger footprint in fashion resale. 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. Depop was founded in 2011 by entrepreneur Simon BeckermanDepop is a buy and sell app that allows you to sell items. 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? ", 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.". Company summary. [13], Most of the items sold on Depop are used, vintage, and repurposed pieces of clothing. June 2, 2021. That presents a challenge for Depop. Items are usually secondhand or homemade. Depop's 2020 gross. 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.