Depop's 2020 gross merchandise sales (GMS) and revenue were approximately $650 million and $70 million, respectively, each increasing over 100% year-over-year. Prices for clothing range from $3-$15. Depop is expected to be accretive to Etsy's top line growth rate and modestly dilutive to Etsy's adjusted EBITDA margin. After submitting your request, you will receive an activation email to the requested email address. Depop's mission statement is "to change the way people buy, sell and think about fashion." Is Depop second hand? Accessed March 04, 2023. https://www.statista.com/statistics/1122928/depop-monthly-active-users-uk/, Airnow. Depop is the community-powered fashion marketplace to buy and sell unique fashion, with over 30 million registered users in more than 150 countries. 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. [9], In 2020, Depop's gross merchandise sales and revenue both more than doubled to $650 million and $70 million respectively. That presents a challenge for Depop. Vinted, for instance, is generally more focused on the transactional side. my buyer. You must click the activation link in order to complete your subscription. Sell. Retailers and brands might consider how they can inspire Gen Z to be entrepreneurs. While both websites are free, Swappa requires you to pay a small 3% fee once your item sells compared to Depop, which charges 10%. Depop is headquartered in London, England and Los Angeles, California. As a Premium user you get access to the detailed source references and background information about this statistic. <br><br>I have demonstrated skills and experience in public relations, fashion marketing, and fashion communications. Type Subsidiary . Depop | Buy & Sell Clothing on the App Store This app is available only on the App Store for iPhone. But their interest in secondhand clothes also has significance beyond save-the-planet instincts. Essentially, the more you engage, be it by liking items, listing products, following other users, etc., the more sales you're likely to generate. 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. Please create an employee account to be able to mark statistics as favorites. Dont worry, youre not going to need to splash out on a property, there is a much cheaper solution. 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 seller Adwoa Owusu-Darko has run her brand Mini's World (@minisworld) since 2016. In other words, Depop is basically Instagram, but with more transparency about the fact that it's selling you stuff. That way youll receive all of your items together instead of one at a time. As soon as this statistic is updated, you will immediately be notified via e-mail. 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. [Online]. Alternatives to Depop. If you think about selling your old clothes online, two reselling apps immediately spring to mind - Vinted and Depop. 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. When it comes to newness, this generation has a new lens through which they see new.. Compare Depop alternatives for your business or organization using the curated list below. A lot of people in my generation have that set-up income from a few little baskets, he says. 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. But why Depop? VP of Investor Relations, Jessica Schmidt It caters to a variety of different fashion pieces such as designer, vintage, and streetwear. It is one of the few success stories of the dot-com bubble, which . In 2021, Depop was acquired by Etsy for $1.6 billion. 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. Items are usually secondhand or homemade. ", 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. Got a confidential news tip? To receive the Vogue Business newsletter, sign up here. ThredUP currently ships to the United States and Canada, with no current plans to expand to additional countries at this time. Depop, on the other hand, while having a user base of over 26 million, is only available in 6 countries. Learn more about how Statista can support your business. The Depop social shopping app blends the aesthetic and social aspects of Instagram with the buy-and-sell format of eBay. 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. SourceForge ranks the best alternatives to Depop in 2022. Depop proudly states that 90 percent of its active users are under 26. Weve been a long time customer of MyUS, and weve never had any issues with their service. Etsy, Inc. (Etsy) operates two-sided online marketplaces that connect people and buyers, and sellers around the world. statistic alerts) please log in with your personal account. 16.6M+ items are available for sale on Depop. Countries. Depop was founded in 2011 by entrepreneur Simon BeckermanDepop is a buy and sell app that allows you to sell items. Depop is a peer-to-peer social e-commerce company based in London, with additional offices in Manchester, Milan and New York City. Depop is a peer-to-peer social shopping app. 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. Growing up in a hyper-connected world, Gen Z is more vulnerable to macro level uncertainties, the report finds. You can also email them at support@depop.com. 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. It's nothing else than a standard return policy where buyers can return items that might be damaged, missing, or cancelled. 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. Available everywhere. [16] Celebrities have resold their own items on Depop, with some donating proceeds to charitable causes. November 8, 2021. At Etsy, we promise to treat your data with respect and will not share your information with any third party. 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. Get full access to all features within our Business Solutions. LocationsView all. Depop significantly grows Etsy's GMS in the apparel sector, which was ~$1 billion in 2020. The benefit of this service is you can order from anywhere in the United States and get your items shipped to Europe. The Company operates through four segments: Etsy, Reverb, Depop, and Elo7. Depop is the community-powered fashion marketplace to buy and sell unique fashion, with over 30 million registered users in more than 150 countries. 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 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. 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. Since Depop has attracted young people, you can expect a lot of clothing and other items to be approved by the millenials. 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. Here in the United States, it doesn't. eBay allows you to edit and crop your photos compared to Depop, which lacks that functionality. "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. Dont expect easy answers. Now, were assuming that you neither own a house there or do you have relatives living there, so how is this even possible? Depop has around 30 million users in over 150 countries, the majority of whom are young people. Depop will remain headquartered in London, Etsy said, operating as a standalone business run by current management. Access to this and all other statistics on 80,000 topics from, Show sources information 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. While some users complained of poor customer service, Depop can help you make extra money online. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). Airnow. Place your item in a box or shipping envelope, available at office supply stores or the post office. Using a Vinted or Depop app, users can sell, buy, or exchange their used clothes. Please read the full Terms of use and Privacy Policy. The number of app users in the United Kingdom went from. Selling on Depop and Vinted looks pretty similar, requiring sellers to engage in increasing sales. $1 Billion made by the Depop community to date. This press release (including statements quoted in this press release) contains forward-looking statements within the meaning of the federal securities laws. Shop now Sell your way While no seller likes to pay fees, they are integral to online selling. That leads us to the question, which of these two reselling platforms is better? In the 2000's, eBay went on a spending spree that saw it taking ownership of PayPal, Skype and Stubhub, although it has since relinquished ownership of all three businesses. Depop, for example, charges its sellers 10% of each sale plus the possible PayPal fee for one's country. The Depop plan sets out a series of targets to hit by the end of 2021. In interviews with nearly a dozen Depop users, BoF heard numerous reports of women being inundated with sexual messages. The brand registered unprecedented growth in May and July 2020, with. To receive packages from the United States, youre going to need to have an address based there. 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. Weve talked about fluidity as much more than gender for some time at Depop, says chief brand officer Peter Semple. 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. Y, 2019. Find what you are looking for, negotiate with the seller through the apps inbuilt messenger. 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. hi! By providing your email address below, you are providing consent to Etsy to send you the requested Investor Email Alert updates. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Thrift stores, in the Poway area, are pretty cheap. How to Deliver Items from the Depop Online Store to Europe Depop also requires sellers to make their offers look more professional, which is why it's better suited for small businesses. Adwoa Owusu-Darko (@minisworld) even runs a mentorship business, teaching others how to mirror her Depop success. Others were also unhappy with the customer service describing it as unresponsive. $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. 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. Use Ask Statista Research Service. Shares of Etsy have more than doubled in the last 12 months thanks to an e-commerce boom resulting from the coronavirus pandemic. Depop is not available in some countries from summer (I cant remember exact month when this happened). 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). The content on dollarbreak.com is for informational and educational purposes only and cannot replace any professional financial advice. 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 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. And forget all about contacting their support. However, it soon started to spread across other markets, eventually becoming a worldwide marketplace for second-hand clothing. However, we have a pretty simple solution that gets around this restriction. ", 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. 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. You can unsubscribe anytime. ". On paper, Depop and Vinted offer the exact same services, connecting second-hand clothing sellers with buyers. 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. Depop is all about community - it's the buyers and sellers who use Depop who make it such a great place. Depop is the marketplace where you can explore your style. You have successfully joined our subscriber list. Depop is powered by a team of around 400 people, dedicated to our mission of fashion for a better future. An overwhelming 90 per cent of its active users are under the age of 25. Depop is a legitimate app that lets sellers sell items and buyers buy items; hence not a scam. 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. Depop reports having over 30 million registered users in over 150 countries. Who we are. Those interested in submitting questions during the conference call can do so by using the Q&A chat window, which will be available during the webcast. It's also recommended to refresh and bump your listings for them to stay at the top of the search. Enter your email to receive editorial updates, special offers and breaking news alerts from Vogue Business. Prior to agreeing a sale to Etsy, Depop had raised a total of $105.6 million from investors including General Atlantic, Creandum, Balderton Capital, Octopus Ventures and Klarna CEO and co-founder Sebastian Siemiatkowski, according to data from Crunchbase. The company has an expanding global presence being popularised in countries such as the United States, United Kingdom, Australia, New Zealand, and Italy. Etsy is buying secondhand fashion app Depop for $1.62 billion in a deal primarily consisting of cash. Our company was founded in 2005 and is headquartered in Brooklyn, New York. [13], Most of the items sold on Depop are used, vintage, and repurposed pieces of clothing. Forward-looking statements include all statements that are not historical fact. trend cycle continues to quicken, posing a challenge for fashion brand marketers seeking to connect with younger consumers. Please read rules before posting. Shares our two-sided marketplace business model: Depop is a peer-to-peer marketplace with similar capital-light operating model and financial characteristics. 12.9% of the sale price or lower, plus $0.30 per order. Sr. Director of Investor Relations, Patricia Cruz Poshmark is available in the U.S., Canada, India, and Australia, but at this time Poshers cannot buy or sell outside of their country. 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. Its because theyre reliable, dont charge a bunch of taxes, and offer affordable rates. Vinted also works as an intermediary between sellers and buyers, helping resolve issues. To minimize the likelihood of being scammed, you should only make a transaction through the app and not offline or off the platform. According to positive reviewers, Depop allowed them to start their small business. Decide your price. Otherwise, all transactions made in the app are protected, so it should be safe to sell on Depop. It really makes us think about, how do we serve these journeys? 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. We want to hear from you. Register in seconds and access exclusive features. The deal marks the biggest acquisition yet for Etsy, which went public on the New York Stock Exchange in 2015. Depop is a popular second-hand fashion marketplace app with a global community of buyers and sellers. And it doesn't look like there's a way to list items from a computer. 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. Following the close of this transaction, Etsy Inc. will operate three highly differentiated, non-commoditized and loved ecommerce brands: Etsy, Reverb, and Depop. , Aug 2, 2022 London-based social shopping platform app Depop was highly benefited by the e-commerce boom during the COVID-19 pandemic. The platform's "Explore" page features items picked out by Depop staff. Moreover, we operate in a very competitive and rapidly changing environment. It allows users to buy and sell items, most of which are used and vintage pieces of clothing. Our primary marketplace, Etsy.com, is the global destination for unique and creative goods. 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?. Forward-looking statements involve substantial risks and uncertainties that may cause actual results to differ materially from those we expect. What are the Other Ways to Make Money on Depop? 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. So, when you want to order restricted items from the Depop store, you simply enter the address MyUS provided and get your packages shipped there. 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. 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. A sub for discussing all things Depop. . Depop should know. Press question mark to learn the rest of the keyboard shortcuts. --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. From crypto to clothes: Why Gen Z are investors now, From Essentials to Adidas: Whats next for Fear of God. Depop is the community-powered fashion marketplace to buy and sell unique fashion, with over 30 million registered users in more than 150 countries. While creating a Depop account, your phone number will be required. In 2012, Depops headquarters were moved to London, and the company opened additional offices in Milan and New York City. Get paid fast when your item sells. If y'all remember I posted how I got banned for hashtags that were FINE. Depop is the community-powered marketplace app where people exploring style and the latest trends come to shop and sell circular fashion. 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. With roughly 30 million registered users across nearly 150 countries,. 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. With 4 million active buyers and 2 million active sellers in 2020, we believe Depop's cohort behavior is particularly impressive: for example, in 2020, 75% of GMS was from existing cohorts; ~75% of sellers were also buyers; and, on average, sellers sold approximately 10 items and buyers bought approximately 6 items. A lot of that comes with fluidity and merging the lines of gender that we knew in fashion traditionally., Toms customers are tough to define or categorise. ETSY. There are no boundaries anymore between commerce and connections, consumption and production, and even entertainment and entrepreneurship, says Federica Levato, a partner at Bain, who worked on the report. 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. For sellers, we offer a range of tools and services that address key business needs. This button displays the currently selected search type. Etsy has sufficient available liquidity to fund the acquisition. 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. If you look around online, youll find a bunch of companies in the U.S. offering physical United States addresses to customers located overseas. The Company's primary marketplace, Etsy . 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. "To some degree, we have a closer relationship with Gen Z . Credit Suisse served as exclusive financial advisor to Depop and Weil, Gotshal & Manges LLP served as its legal advisor. 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. While some users complained of poor customer service, Depop can help you make extra money online. Otherwise, all transactions made in the app are protected, so it should be safe to sell on Depop. Sellers who live in countries where depop is not popular wouldn't be able to sell anything if they couldn't do it. Conduct your own research and seek the advice of a licensed financial advisor. 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. As in most cases, it depends. It allows users to buy and sell items, most of which are used . ", 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.". The app is also meant for buyers looking for items they can buy. I'm trying to figure out an alternative atm 10 Platforms should cater for all levels of buyer and seller, says Depops Semple. These companies provide addresses for this specific use case, and theyll even help ship your packages directly to you. As you can see, while looking practically identical at first glance, Depop and Vinted are two sides of the same coin. The platform is very similar to other online marketplaces like eBay, Facebook Marketplace, Mercari, or Poshmark. Business Summary. 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. 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. Depop, on the other hand, while having a user base of over 26 million, is only available in 6 countries. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Vinted and Depop have different payment policies. Some of the motivations for using Depop come as no surprise 75 per cent of those surveyed are looking to reduce clothing consumption. Click here to view 60+ Websites to Sell Stuff. It also gives the online marketplace a bigger footprint in fashion resale. Depop is designed for sellers who want to sell items such as clothing, shoes, clothes, vintage clothes and items, and cheap streetwear. Depop was founded in 2011 by entrepreneur Simon Beckerman at an Italian technological incubator and business H-Farm start-up centre. Have to complete the purchase to update your shipping address - Depop It does come with fees and higher shipping costs.