The site . 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. Posting and selling using the platform are completely free, and the buyer pays the fees associated with the sale. People want the opportunity to buy and sell, but also they want this inspirational layer and entertainment through their experiences.. That leads us to the question, which of these two reselling platforms is better? 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. 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 . Are you interested in testing our business solutions? Vinted also works as an intermediary between sellers and buyers, helping resolve issues. 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. 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. Comments, questions or feedback? Vinted is more transactional. I agree to receive your newsletter. These companies provide addresses for this specific use case, and theyll even help ship your packages directly to you. Previous investors HV Holtzbrinck Ventures, Balderton Capital, Creandum, Octopus Ventures, TempoCap and Sebastian Siemiatkowski also participated. June 2, 2021. Depop and Paypal have been accused of collectively deceiving users into using their preferred private shipping partner, Evri, previously known as Hermes, a courier firm marred by allegations that its drivers mishandle parcels. Depop is a peer-to-peer social shopping app based in London that first launched in 2011. Depop is a peer-to-peer social e-commerce company based in London, with additional offices in Manchester, Milan and New York City. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. [14] Users can also follow other sellers, whose posts will appear in their feeds. . With 4 million active buyers and 2 million . Now imagine if someone came through and bought a pair of pants for $12 . Please create an employee account to be able to mark statistics as favorites. Depop reports having over 30 million registered users in over 150 countries. But their interest in secondhand clothes also has significance beyond save-the-planet instincts. Etsy, Inc. (Etsy) operates two-sided online marketplaces that connect people and buyers, and sellers around the world. Then you can access your favorite statistics via the star in the header. Here are some vital facts and figures about how Depop works today. 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. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. The Depop study echoes this point, with respondents underlining fluid identity when buying and selling clothes. Send your buyer a message thanking them and letting them know when you plan to ship; Ship ASAP using tracked delivery. Get Potential buyers to make bids for the item and agree on the final price. Overview. . Take a picture of the item, describe it, set a price for it, and post. As said, when selling at Vinted, a buyer covers all transaction-related fees, including shipping costs. 147. Like Depop, Decluttr is free to download and use. Sky warns: "Don't let your photo be more distracting than the product you're selling.". I'm trying to figure out an alternative atm 10 Ticker: ETSY. The brand registered unprecedented growth in May and July 2020, with. They come to Depop for the clothes, but stay for the culture. Decluttr is an online app that allows you to sell your used media. Dont worry, youre not going to need to splash out on a property, there is a much cheaper solution. Please see our privacy policy for more information. 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. That said, you can expect to ship your items at lower prices when using Vinted. ThredUP currently ships to the United States and Canada, with no current plans to expand to additional countries at this time. 4 locations detected. 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 . Chart. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Depop, a social shopping platform based in the United Kingdom, has been experiencing a reduction in monthly app downloads. Sellers can set up their Depop shop and quickly list . Others were also unhappy with the customer service describing it as unresponsive. 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. Get paid for the item and start the shipping process. The company has an expanding global presence being popularised in countries such as the United States, United Kingdom, Australia, New Zealand, and Italy. Others also described the platform as an easy-to-use selling platform. Platforms should cater for all levels of buyer and seller, says Depops Semple. Depop is not available in some countries from summer (I cant remember exact month when this happened). "Etsy acquires clothing resale platform Depop for $1.6 billion", "Gen Z Designers Made It Big on This App. MyUS is one of the best freight forwarders available and its our favorite. Countries. [6] Most active users of Depop are located in the United Kingdom, Australia, United States and Italy. [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. You must click the activation link in order to complete your subscription. ", 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. It is largely targeted at Gen Z shoppers Data is a real-time snapshot *Data is delayed at least 15 minutes. The number of app users in the United Kingdom went from. Once you make a sale, Depop will send the money to the PayPal account that youve already linked to your account. Both apps also make it very easy to post your items. 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 Semple, physical events remain hugely relevant. 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. 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. 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. 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 is the community-powered marketplace app where people exploring style and the latest trends come to shop and sell circular fashion. 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. It also gives the online marketplace a bigger footprint in fashion resale. eBay allows you to edit and crop your photos compared to Depop, which lacks that functionality. Etsy CEO on how $1.6 billion deal for Depop could help the company grow. It caters to a variety of different fashion pieces such as designer, vintage, and streetwear. SourceForge ranks the best alternatives to Depop in 2022. [5] Depop expanded and opened additional offices in Milan and New York City. As people are given access to so many different types of inspiration, whether its peer-to-peer or the mix of influence you can get from each type of influential figure, each individual is fluid in their style, their self-expression., Hadiyah Hussain communicates her South Asian culture through her brand on Depop, which features screen-printed pieces for all genders and sizes. Get the item and o rate your experience with the seller. 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.". 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. Compare Depop alternatives for your business or organization using the curated list below. 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. Depop should know. A sub for discussing all things Depop. Shares our two-sided marketplace business model: Depop is a peer-to-peer marketplace with similar capital-light operating model and financial characteristics. ", 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.". To minimize the likelihood of being scammed, you should only make a transaction through the app and not offline or off the platform. 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. Etsy is buying secondhand fashion app Depop for $1.62 billion in a deal primarily consisting of cash. Buyers come to Etsy to be inspired and delighted by items that are crafted and curated by creative entrepreneurs. 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. 90% of Depop's active users are under the age of 26.Depop. What distinguishes Depop from Vinted is its emphasis on social features, working as a social network app in addition to being a reselling marketplace. You can only download this statistic as a Premium user. How to sell. Depop profit calculator - Calculate your Depop and Paypal fees, shipping amount, taxes, revenue and profits for every product you sell on your Depop store. Launched in Lithuania in 2008, Vinted quickly expanded to 10 more countries, becoming an instant success among clothes reselling apps. Describe what you're selling. 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. "Monthly active users (MAU) of the Depop app in the United Kingdom (UK) from January 2018 to October 2021 (in millions)." Thats now the slogan of the brand I work with a lot of queer people, its just kind of asking them how they want to show up in the world. Depop is a reliable website that allows you to buy and sell items. Sellers who live in countries where depop is not popular wouldn't be able to sell anything if they couldn't do it. $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. The first difference is the market available. 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. But why Depop? Business Summary. Depop is the community-powered fashion marketplace to buy and sell unique fashion, with over 30 million registered users in more than 150 countries. LocationsView all. Depop was founded in 2011 by entrepreneur Simon BeckermanDepop is a buy and sell app that allows you to sell items. Create an account to follow your favorite communities and start taking part in conversations. It provides a mobile marketplace that enables individuals to buy and sell their items on iOS and Android platforms. Test out different poses. BROOKLYN, NY 11201 United States. However, these can be dealt with by using Packlink to find the cheapest parcel delivery service. Depop promises not to share your details with third parties. If you think about selling your old clothes online, two reselling apps immediately spring to mind - Vinted and Depop. Etsy expects to share more information in conjunction with its second quarter 2021 financial results. Since Depop has attracted young people, you can expect a lot of clothing and other items to be approved by the millenials. The mission of my brand is to represent the underrepresented, says Depop seller Tom Evans (@areaeighteen). The app is also meant for buyers looking for items they can buy. E-commerce firm Etsy announced Wednesday that it is buying the secondhand fashion app Depop for $1.62 billion. 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. This presentation contains forward-looking statements within the meaning of the federal securities laws. The content on dollarbreak.com is for informational and educational purposes only and cannot replace any professional financial advice. According to positive reviewers, Depop allowed them to start their small business. "Australia is Depop's third largest market. Today, Depop is a place where millions of users come to celebrate their style and discover culture. [16] Celebrities have resold their own items on Depop, with some donating proceeds to charitable causes. i sold a pair of shoes on depop about ten days ago, and they were delivered on wednesday, 1/15/2021. 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). 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. Forward-looking statements include all statements that are not historical facts. Poshmark is available in the U.S., Canada, India, and Australia, but at this time Poshers cannot buy or sell outside of their country. 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. (November 8, 2021). 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. Therefore, Vinted might be a better choice for a casual seller interested in making some extra money. Available on Android and iOS (free) Another great app for the starving student! 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. The network currently has more than 15 million users in 147 countries, skewed heavily towards those aged under 26, with plans to expand across Europe and Asia. Depop also requires sellers to make their offers look more professional, which is why it's better suited for small businesses. A copy of the presentation that will be covered on the conference call will also be posted to our website. 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 full access to all features within our Business Solutions. Depop seller Adwoa Owusu-Darko has run her brand Mini's World (@minisworld) since 2016. Depop is expected to be accretive to Etsy's top line growth rate and modestly dilutive to Etsy's adjusted EBITDA margin. Place your item in a box or shipping envelope, available at office supply stores or the post office. We estimate that one in four 15-24-year old's in Australia are on Depop," says Aria Wigneswaran, Country Manager Australia, Depop.. Users can pay for items using PayPal. 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. Unfortunately, Depop doesn't ship directly to Europe. The freight forwarder accepts the package on your behalf. Press question mark to learn the rest of the keyboard shortcuts. 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. Sure, both platforms offer similar services, but their approach is different. Do NOT buy from GB via Depop if you live in the EU. It allows users to buy and sell items, most of which are used . It was established in 2011 by Simon Bekerman and now has over 15 million . The app has over 10 million users and is available in over 100 countries. 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. Use Ask Statista Research Service. 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 button displays the currently selected search type. hi! 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. Company summary. At Etsy, we promise to treat your data with respect and will not share your information with any third party. $1 Billion made by the Depop community to date. To contact Depop customer service, go to the help desk page, enter your details and submit. Depop's beginnings were also relatively humble. 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. Tom Evans says Depop has become his primary source of income. [7] Depop was the official app sponsor of the 2016 Vans Warped Tour. If you are an admin, please authenticate by logging in again. [5] In 2015, Depop secured another investment of $8 million from Balderton Capital and Holtzbrinck Ventures. As of today, Vinted is available in 15 countries. Like Depop, Swappa pays via PayPal. In the post-pandemic era, music and entertainment experiences that go beyond buying and selling will be much-needed by Gen Z, he says. Depop is a popular second-hand fashion marketplace app with a global community of buyers and sellers. 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 . Forward-looking statements include all statements that are not historical fact. 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 payments are transferred directly to your PayPal account, and no intermediary is involved in handling transactions. [15], Depop has garnered criticism from users and critics due to a number of its sellers buying clothes from thrift shops and reselling them for higher prices than they were purchased for. "Monthly Active Users (Mau) of The Depop App in The United Kingdom (Uk) from January 2018 to October 2021 (in Millions). Users can buy and sell clothing, accessories, and beauty products.
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