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. "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. Conduct your own research and seek the advice of a licensed financial advisor. [6] Beckerman raised 1 million in funding in October 2013 from Red Circle Investment and brought on Faroese Runar Reistrup as new CEO. Tom Evans says Depop has become his primary source of income. That leads us to the question, which of these two reselling platforms is better? 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. This button displays the currently selected search type. 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 The only pricey item I've found is a pantsuit that cost around $20. Pay for the item, tell the seller where to ship it, and pay for it. Deb Wasser 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. 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. 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. 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 . 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). Vintage, streetwear, one-of-a-kind, Y2K are the biggest styles on Depop. She has about 40,000 followers, and selling clothes online has become a full-time job for her. The company has an expanding global presence being popularised in countries such as the United States, United Kingdom, Australia, New Zealand, and Italy. 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. Ticker: ETSY. <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. Vinted, for instance, is generally more focused on the transactional side. They come to Depop for the clothes, but stay for the culture. 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. Depop is a popular second-hand fashion marketplace app with a global community of buyers and sellers. Who we are. Secondhand may be sustainable but its also cool. But their interest in secondhand clothes also has significance beyond save-the-planet instincts. Both apps also make it very easy to post your items. Swappa also focuses on used electronics compared to Depop, which deals in clothing, shoes, and other streetwear. LocationsView all. Press J to jump to the feed. 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. As in most cases, it depends. Shares our two-sided marketplace business model: Depop is a peer-to-peer marketplace with similar capital-light operating model and financial characteristics. Following the close of this transaction, Etsy Inc. will operate three highly differentiated, non-commoditized and loved ecommerce brands: Etsy, Reverb, and Depop. We estimate that one in four 15-24-year old's in Australia are on Depop," says Aria Wigneswaran, Country Manager Australia, Depop.. June 2, 2021. To make sure everything arrives in one clean piece, pack your items well; Keep your buyer informed. "Etsy acquires clothing resale platform Depop for $1.6 billion", "Gen Z Designers Made It Big on This App. Its not so long ago that many people wouldnt have thought of themselves as potential resellers, he says. Depop is a place for anyone to discover and . In the post-pandemic era, music and entertainment experiences that go beyond buying and selling will be much-needed by Gen Z, he says. Comments, questions or feedback? 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. 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. While some users complained of poor customer service, Depop can help you make extra money online. 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?. Only limited information is available about the algorithms and modelling behind ChatGPT, which makes it difficult . As of today, Vinted is available in 15 countries. Online marketplace Etsy announced . eBay allows you to edit and crop your photos compared to Depop, which lacks that functionality. 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. Investor Relations Manager, Advances leadership in community-driven and differentiated marketplaces, Etsy to acquire global fashion resale marketplace Depop. Paypal withholds those Depop users funds from any items sold for a minimum of 21 days from the date of sale[citation needed]. Depop is all about community - it's the buyers and sellers who use Depop who make it such a great place. 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. With a website and apps available on both iOS and Android, Depop promises to be an online shopping. Please read the full Terms of use and Privacy Policy. Depop is a peer-to-peer social shopping app. 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. It allows sellers to reach a broader audience thanks to its social features and emphasises a more professional approach when creating posts. You can use it to browse listings by your neighbours and local shops with a surplus of food or other products. Then I sent them this. You simply register an account with a Freight Forwarder, and theyll provide you with a U.S. based address. Depop, on the other hand, while having a user base of over 26 million, is only available in 6 countries. Depop was founded in 2011 by entrepreneur Simon Beckerman at an Italian technological incubator and business H-Farm start-up centre. 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. Shares of Etsy have more than doubled in the last 12 months thanks to an e-commerce boom resulting from the coronavirus pandemic. Airnow. The Company operates through four segments: Etsy, Reverb, Depop, and Elo7. You can unsubscribe anytime. BROOKLYN, NY 11201 United States. 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. Subscribe to receive weekly Side Hustle recommendations. Prices for clothing range from $3-$15. "Monthly active users (MAU) of the Depop app in the United Kingdom (UK) from January 2018 to October 2021 (in millions)." Y, 2019. However, it soon started to spread across other markets, eventually becoming a worldwide marketplace for second-hand clothing. 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. Depop is a reliable website that allows you to buy and sell items. ", 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. don't give up! [14] Users can also follow other sellers, whose posts will appear in their feeds. But why Depop? You need a Statista Account for unlimited access. 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. Platforms should cater for all levels of buyer and seller, says Depops Semple. From crypto to clothes: Why Gen Z are investors now, From Essentials to Adidas: Whats next for Fear of God. Depop's beginnings were also relatively humble. Depop is the marketplace where you can explore your style. The stock was up about 6.7% Wednesday afternoon. On the other hand, Depop sellers can absorb the postage cost by hiding it in the item's price as free shipping. The buyer pays shipping costs and a small buyer protection fee when buying via Vinted. The default refresh interval is a random number between 1 and 3 seconds. The Company's primary marketplace, Etsy . Depop is a social shopping app that has been described as a mix of eBay and Instagram. Depop is primarily known for its vintage, streetwear, one-of-a-kind and Y2K (late 1990s/early 2000s) fashion. 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. Aria says it's because Depop is about people, not just about the item being sold "We're not just a platform for people to buy and sell. 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. Get paid fast when your item sells. Depop's 2020 gross merchandise sales (GMS) and revenue were approximately $650 million and $70 million, respectively, each increasing over 100% year-over-year. . Depop payments are transferred directly to your PayPal account, and no intermediary is involved in handling transactions. 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. Have to complete the purchase to update your shipping address - Depop Depop reselling is unethical, not because reselling is unethical in general, but because of how it's done. r/Depop W for me today after 10 incompetent depop support representatives finally got someone to review my account suspension. The app is currently available only in European countries, but it's expected to soon be available in the US too. Depop promises not to share your details with third parties. 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. 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. Many sellers model the clothes they sell themselves. With roughly 30 million registered users across nearly 150 countries,. ", 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. And it doesn't look like there's a way to list items from a computer. [6] Most active users of Depop are located in the United Kingdom, Australia, United States and Italy. It's nothing else than a standard return policy where buyers can return items that might be damaged, missing, or cancelled. Launched in Lithuania in 2008, Vinted quickly expanded to 10 more countries, becoming an instant success among clothes reselling apps. We want to hear from you. Decide your price. A copy of the presentation that will be covered on the conference call will also be posted to our website. ", "Is Depop being gentrified? OLIO. Take a picture of the item, describe it, set a price for it, and post. It surveyed 2,176 Depop users from the UK, US and Australia and conducted individual interviews with a sample of Depop sellers, analysed alongside insights from Bain & Company. 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. To download the Depop mobile app, go to Google Play and click download. The company will send a six-digit code that you can use to verify your account. 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. 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. Since Depop works more like a social network platform, it allows sellers to reach more users with their listings. Make sure your clothing is the focal point of the picture by keeping the . Growing up in a hyper-connected world, Gen Z is more vulnerable to macro level uncertainties, the report finds. More so, what you earn on Swappa depends on the item you are selling and its condition. However, while the idea behind the two is similar, there are some key differences between Vinted and Depop. You can also save money on shipping by using Packlink to compare couriers and find the most cost-efficient solution. Instead, the app uses an escrow service that holds the money in your Vinted wallet until the buyer gets and accepts the item. Others also described the platform as an easy-to-use selling platform. What are the Other Ways to Make Money on Depop? Depop | Buy & Sell Clothing on the App Store This app is available only on the App Store for iPhone. The user base on Depop is also younger than on Vinted, which, in exchange, has a more international user base. Sellers who live in countries where depop is not popular wouldn't be able to sell anything if they couldn't do it. Moreover, we operate in a very competitive and rapidly changing environment. . ". In 2020, Depops gross merchandise sales and revenue increased to $650 million and $70 million, respectively. 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. Vinted and Depop have different payment policies. 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. Here are eight brands that have collaborated with Depop to creatively reach young shoppers as they're shopping secondhand: Papa John's Food brands have been making their own merch to connect with young consumers for quite some time, and Papa John's has put their own spin on the marketing trend. Etsy CEO on how $1.6 billion deal for Depop could help the company grow. When you click on 23-year-old Lyuu's Depop shop, you'll see a collection of pink, black, red and white gothic and vintage clothing from a designer Dior bag that costs nearly two grand to an . Which one is better, though? Then you can access your favorite statistics via the star in the header. Essentially, you'll be able to get any item from the Depop store shipped to Europe, all for a crazy low price. Etsy expects to share more information in conjunction with its second quarter 2021 financial results. Decluttr is an online app that allows you to sell your used media. Users can pay for items using PayPal. It does come with fees and higher shipping costs. 6) The app must also have an express courier function, home collection/delivery, users can do everything without leaving home. Depop is the app for you . We disclaim any obligation to update forward-looking statements, except as required by law. In an age of financial uncertainty, young people are taking finances into their own hands. DollarBreak is reader-supported, when you sign up through links on this post, we may receive compensation. I agree to receive your newsletter. Investor Relations Contact: Etsy, Deb Wasser, Vice President, Investor Relations and ESG Engagement: dwasser@etsy.comor Etsy, Gabe Ratcliff, Director, Investor Relations: gratcliff@etsy.com, Media Relations Contact:Etsy, Kelly Clausen, Senior Director, Corporate Communications: press@etsy.com, Cautionary Statement Regarding Forward-Looking Statements. Depop seller Adwoa Owusu-Darko has run her brand Mini's World (@minisworld) since 2016. You can unsubscribe at any time. Also, as a Depop seller, you're responsible for contacting a buyer when something's wrong with the order. Get paid for the item and start the shipping process. 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%. Adwoa Owusu-Darko (@minisworld) even runs a mentorship business, teaching others how to mirror her Depop success. However, we have a pretty simple solution that gets around this restriction. Once the package is received, the freight forwarder will ship the package directly to you in Europe. Show publisher information GET SERVICE INSTANTLY . To contact Depop customer service, go to the help desk page, enter your details and submit. Etsy believes Depop has a highly differentiated position in the fast-growing resale space: Josh Silverman, Etsy, Inc. CEO, commented, "We are simply thrilled to be adding Depopwhat we believe to be the resale home for Gen Z consumersto the Etsy family. The platform's "Explore" page features items picked out by Depop staff. Its marketplace connects over 21 million users, selling, buying, and exchanging second-hand clothes and accessories. 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. Depop also pays via PayPal compared to Decluttr, which uses Direct deposit, PayPal, and Check. 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). Swappa is a peer-to-peer marketplace that allows you to sell and buy used electronics. An overwhelming 90 per cent of its active users are under the age of 25. Get this delivered to your inbox, and more info about our products and services. The company was founded in 2011 and is headquartered in London . Sr. Director of Investor Relations, Patricia Cruz Email us at feedback@voguebusiness.com. Dont worry, youre not going to need to splash out on a property, there is a much cheaper solution. 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.". - 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 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. 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. Company summary. 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. In addition, Etsy, Inc. owns Reverb, a leading global online marketplace dedicated to buying and selling new, used, and vintage musical instruments. Like Depop, Decluttr is free to download and use. [21] The platform has also been criticized by its users for picking predominantly thin models wearing straight size clothing to showcase on its Explore page, which some have described as sizeist.[22][19]. This is a fluid generation defying categorisation in every sense, Levato 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. Does the Depop online store ship items overseas to Europe? Create an account to follow your favorite communities and start taking part in conversations. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 60m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. I always say we owe ourselves authenticity. In June 2021, Etsy announced it would acquire Depop for $1.6 billion in cash. Its report, released this Monday, unpacks Gen Zs collective behaviours in a pandemic world and beyond. Essentially, youll be able to get any item from the Depop store shipped to Europe, all for a crazy low price. At Etsy, we promise to treat your data with respect and will not share your information with any third party. 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. Forward-looking statements represent our beliefs and assumptions only as of the date hereof. 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. Unfortunately, Depop doesnt ship directly to Europe. Depop reports having over 30 million registered users in over 150 countries. How to sell. Since Depop has attracted young people, you can expect a lot of clothing and other items to be approved by the millenials. An overwhelming 90 per cent of its active users are under the age of 25. eBay is one of the most popular platforms that allows you to buy and sell goods and services like electronics, clothing, and more.
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