However, while the idea behind the two is similar, there are some key differences between Vinted and Depop. It is one of the few success stories of the dot-com bubble, which . Overview. 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. In addition, Etsy, Inc. owns Reverb, a leading global online marketplace dedicated to buying and selling new, used, and vintage musical instruments. "To some degree, we have a closer relationship with Gen Z . Selling on Poshmark vs. Selling on Depop - Vendoo Both platforms are dominant forces, connecting 21 and 26 million users worldwide, respectively. [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. Depop: number of downloads per month 2022 | Statista 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. [14] Users can also follow other sellers, whose posts will appear in their feeds. . In March 2016, former CEO, Runar Reistrup, stated that Depop's growth was achieved through word of mouth. 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 app is also meant for buyers looking for items they can buy. Growing up in a hyper-connected world, Gen Z is more vulnerable to macro level uncertainties, the report finds. to incorporate the statistic into your presentation at any time. Europe Secondhand E-Commerce Market Report 2021 with Sure, both platforms offer similar services, but their approach is different. Shipping guide - Worldwide - Depop help GB 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. 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. Deb Wasser You need a Statista Account for unlimited access. In interviews with nearly a dozen Depop users, BoF heard numerous reports of women being inundated with sexual messages. Please read rules before posting. That way youll receive all of your items together instead of one at a time. It's also recommended to refresh and bump your listings for them to stay at the top of the search. In, Airnow. [10] In June 2021, Etsy announced it would acquire Depop for $1.6 billion in cash, making it Etsy's most expensive acquisition, but that Depop would continue operate as a standalone brand independent from Etsy. Launched in Lithuania in 2008, Vinted quickly expanded to 10 more countries, becoming an instant success among clothes reselling apps. We're excited to build a 'house of brands' where the whole is greater than the sum of its parts.". Vinted also works as an intermediary between sellers and buyers, helping resolve issues. 16.6M+ items are available for sale on Depop. Depop is the community-powered fashion marketplace to buy and sell unique fashion, with over 30 million registered users in more than 150 countries. About Depop Our leadership Facts and figures. Depop, on the other hand, while having a user base of over 26 million, is only available in 6 countries. They come to Depop for the clothes, but stay for the culture. Please do not hesitate to contact me. We estimate that one in four 15-24-year old's in Australia are on Depop," says Aria Wigneswaran, Country Manager Australia, Depop.. Etsy has sufficient available liquidity to fund the acquisition. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. I agree to receive your newsletter. 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. 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. BROOKLYN, NY 11201 United States. Access to this and all other statistics on 80,000 topics from, Show sources information Our primary marketplace, Etsy.com, is the global destination for unique and creative goods. Depop is primarily known for its vintage, streetwear, one-of-a-kind and Y2K (late 1990s/early 2000s) fashion. You then use this address for your deliveries, and theyll automatically forward them to your home country. Take up to four photos. In June 2021, Etsy announced it would acquire Depop for $1.6 billion in cash. 12.9% of the sale price or lower, plus $0.30 per order. Get paid for the item and start the shipping process. To minimize the likelihood of being scammed, you should only make a transaction through the app and not offline or off the platform. In November 2019, Business of Fashion reported that users within the Depop app were receiving sexually suggestive messages.[23]. . If y'all remember I posted how I got banned for hashtags that were FINE. How to sell on Depop according to some successful sellers - RUSSH The platform's "Explore" page features items picked out by Depop staff. 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. VP of Investor Relations, Jessica Schmidt Depop is a peer-to-peer social shopping app. We want to hear from you. It provides a mobile marketplace that enables individuals to buy and sell their items on iOS and Android platforms. The website was launched in 2011 as a social network for PIG magazine readers wanting to buy featured items. Sellers can set up their Depop shop and quickly list . As you can see, while looking practically identical at first glance, Depop and Vinted are two sides of the same coin. 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. Unlike Depop sellers, Vinted sellers don't pay any fees. Conduct your own research and seek the advice of a licensed financial advisor. Depop is a social shopping app that has been described as a mix of eBay and Instagram. Pay for the item, tell the seller where to ship it, and pay for it. "Australia is Depop's third largest market. Many sellers model the clothes they sell themselves. i sold a pair of shoes on depop about ten days ago, and they were delivered on wednesday, 1/15/2021. The Company operates through four segments: Etsy, Reverb, Depop, and Elo7. The Depop plan sets out a series of targets to hit by the end of 2021. Depop is the community-powered marketplace app where people exploring style and the latest trends come to shop and sell circular fashion. There are plenty of resources available to help you cleared up any questions you may have. Buyers come to Etsy to be inspired and delighted by items that are crafted and curated by creative entrepreneurs. 147. 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. Depop proudly states that 90 percent of its active users are under 26. Got a confidential news tip? <br><br>I have demonstrated skills and experience in public relations, fashion marketing, and fashion communications. The first difference is the market available. 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. Also, while Vinted focuses mainly on the European market, Depop is much more popular in the United States. Show publisher information Find what you are looking for, negotiate with the seller through the apps inbuilt messenger. [6] Most active users of Depop are located in the United Kingdom, Australia, United States and Italy. After submitting your request, you will receive an activation email to the requested email address. Do NOT buy from GB via Depop if you live in the EU. To contact Depop customer service, go to the help desk page, enter your details and submit. Depop was founded in 2011 by entrepreneur Simon Beckerman at an Italian technological incubator and business H-Farm start-up centre. OLIO. Depop is the app for you . Only limited information is available about the algorithms and modelling behind ChatGPT, which makes it difficult . Previous investors HV Holtzbrinck Ventures, Balderton Capital, Creandum, Octopus Ventures, TempoCap and Sebastian Siemiatkowski also participated. The app is currently available only in European countries, but it's expected to soon be available in the US too. [11][12], Depop is a social e-commerce platform where users can buy and resell their items. eBay Revenue and Usage Statistics (2023) - Business of Apps Does the Depop online store ship items overseas to Europe? While no seller likes to pay fees, they are integral to online selling. 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. . Sr. Director of Investor Relations, Patricia Cruz Available everywhere. 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. By Lisa Lacy. Depop Review 2023 - Plans, Pros, Cons and Alternatives - DollarBreak 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%. 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. To receive the Vogue Business newsletter, sign up here. As a mobile app, it is available on iOS and Android platforms. Decide your price. Etsy CEO Josh Silverman said the company was "thrilled" to be adding what it believes to bethe"resale home for Gen Z consumers" to Etsy. Ship. Also, while Vinted focuses mainly on the European market, Depop is much more popular in the United States. You have successfully joined our subscriber list. However, we have a pretty simple solution that gets around this restriction. Our company was founded in 2005 and is headquartered in Brooklyn, New York. Airnow. Users can pay for items using PayPal. The app has over 10 million users and is available in over 100 countries. The vintage items are also great since fashion often brings back past trends from time to time. 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. Depop, for example, charges its sellers 10% of each sale plus the possible PayPal fee for one's country. ThredUP currently ships to the United States and Canada, with no current plans to expand to additional countries at this time.