Phones,laptops,wearables,Tablets,video games, Electronic, fashion,health, and beauty products, No limit to the type of products you can sell. As for withdrawal methods, eBay offers PayPal and direct deposit compared to Depop, which has PayPal.While Depop is filled with people selling Y2K and vintage items, eBay is better for items that are rare or hard to find. by Jerret West, CVP Gaming Marketing, Xbox Feb 28, 2023 @ 12:01am. 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. Please read the full Terms of use and Privacy Policy. Also, while Vinted focuses mainly on the European market, Depop is much more popular in the United States. 147. Its important to have cultural fluidity, she says. The platform is very similar to other online marketplaces like eBay, Facebook Marketplace, Mercari, or Poshmark. r/Depop W for me today after 10 incompetent depop support representatives finally got someone to review my account suspension. Take a picture of the item, describe it, set a price for it, and post. Sellers can set up their Depop shop and quickly list . Poshmark is best known for women's fashion, trendy brands, and higher-end clothing and accessories. Etsy CEO on how $1.6 billion deal for Depop could help the company grow. When we do drops, its really hard to kind of nail down an aesthetic.. However, we have a pretty simple solution that gets around this restriction. Once you make a sale, Depop will send the money to the PayPal account that youve already linked to your account. Since Depop has attracted young people, you can expect a lot of clothing and other items to be approved by the millenials. Tom Evans says Depop has become his primary source of income. Forward-looking statements involve substantial risks and uncertainties that may cause actual results to differ materially from those that we expect. The app is also meant for buyers looking for items they can buy. Shares our two-sided marketplace business model: Depop is a peer-to-peer marketplace with similar capital-light operating model and financial characteristics. Instead, the app uses an escrow service that holds the money in your Vinted wallet until the buyer gets and accepts the item. Discover independent brands making waves and the creators behind them. 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. You must click the activation link in order to complete your subscription. It caters to a variety of different fashion pieces such as designer, vintage, and streetwear. Type Subsidiary . Depop Summary. 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. 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. 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 . Access to this and all other statistics on 80,000 topics from, Show sources information 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. Use Ask Statista Research Service. Depop, for example, charges its sellers 10% of each sale plus the possible PayPal fee for one's country. Depop, on the other hand, is a better choice for a small business. 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 . Others also described the platform as an easy-to-use selling platform. Essentially, youll be able to get any item from the Depop store shipped to Europe, all for a crazy low price. It does come with fees and higher shipping costs. For Semple, physical events remain hugely relevant. June 2, 2021. Items are usually secondhand or homemade. "To some degree, we have a closer relationship with Gen Z . Previous investors HV Holtzbrinck Ventures, Balderton Capital, Creandum, Octopus Ventures, TempoCap and Sebastian Siemiatkowski also participated. The Depop study echoes this point, with respondents underlining fluid identity when buying and selling clothes. Investor Relations Manager, Advances leadership in community-driven and differentiated marketplaces, Etsy to acquire global fashion resale marketplace 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. However, we have a pretty simple solution that gets around this restriction. Depop reselling is unethical, not because reselling is unethical in general, but because of how it's done. With roughly 30 million registered users across nearly 150 countries,. How to Deliver Items from the Depop Online Store to Europe You can sign up for additional alert options at any time. We want to hear from you. Overview. Depop is designed for sellers who want to sell items such as clothing, shoes, clothes, vintage clothes and items, and cheap streetwear. (November 8, 2021). Are you interested in testing our business solutions? Essentially, you'll be able to get any item from the Depop store shipped to Europe, all for a crazy low price. However, while the idea behind the two is similar, there are some key differences between Vinted and Depop. . Depop's 2020 gross merchandise sales (GMS) and revenue were approximately $650 million and $70 million, respectively, each increasing over 100% year-over-year. It is largely targeted at Gen Z shoppers trend cycle continues to quicken, posing a challenge for fashion brand marketers seeking to connect with younger consumers. Unfortunately, some users complained that the platform would hold your money for a long time before closing your accounts. Sign up for free newsletters and get more CNBC delivered to your inbox. 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 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. The Company's primary marketplace, Etsy . You need at least a Starter Account to use this feature. Founded in the U.K. in 2011, Depop lets people buy and sell used clothes through. Depop does not offer other ways to make money apart from selling items such as clothes, shoes, and other items. Depop is the marketplace where you can explore your style. 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. Users can buy and sell clothing, accessories, and beauty products. Why do we think MyUS is the best? 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. In 2020, Depops gross merchandise sales and revenue increased to $650 million and $70 million, respectively. Now, were assuming that you neither own a house there or do you have relatives living there, so how is this even possible? Sign up to our newsletter for a truly global perspective on the fashion industry. 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. [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. With 4 million active buyers and 2 million . Depop also pays via PayPal compared to Decluttr, which uses Direct deposit, PayPal, and Check. It's nothing else than a standard return policy where buyers can return items that might be damaged, missing, or cancelled. 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. Depop is a reliable website that allows you to buy and sell items. The company has an expanding global presence being popularised in countries such as the United States, United Kingdom, Australia, New Zealand, and Italy. You can use it to browse listings by your neighbours and local shops with a surplus of food or other products. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. On the other hand, Depop sellers can absorb the postage cost by hiding it in the item's price as free shipping. By providing your email address below, you are providing consent to Etsy to send you the requested Investor Email Alert updates. It really makes us think about, how do we serve these journeys? OLIO. She has about 40,000 followers, and selling clothes online has become a full-time job for her. Who we are. This is a fluid generation defying categorisation in every sense, Levato says. Vinted, for instance, is generally more focused on the transactional side. The site . If you think about selling your old clothes online, two reselling apps immediately spring to mind - Vinted and Depop. Secondhand may be sustainable but its also cool. However, while both apps provide practically the same services, they differ in a few key areas. An overwhelming 90 per cent of its active users are under the age of 25. Unfortunately, yes. That way youll receive all of your items together instead of one at a time. 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. 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. "Monthly active users (MAU) of the Depop app in the United Kingdom (UK) from January 2018 to October 2021 (in millions)." 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. While both websites are free, Swappa requires you to pay a small 3% fee once your item sells compared to Depop, which charges 10%. In, 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. Depop was founded in 2011 and has over 26 million registered users in more than 150 countries. --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. 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. 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. If you have several packages, MyUS can bundle the packages into one order. 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. Register in seconds and access exclusive features. hi! Depop | Buy & Sell Clothing 12+ Resale Marketplace for Clothes Depop Ltd #60 in Shopping 4.8 399.1K Ratings Free iPhone Screenshots Buy. [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. On paper, Depop and Vinted offer the exact same services, connecting second-hand clothing sellers with buyers. Depop should know. Y, 2019. Retailers and brands might consider how they can inspire Gen Z to be entrepreneurs. Accessed March 04, 2023. https://www.statista.com/statistics/1122928/depop-monthly-active-users-uk/, Airnow. 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. You need a Statista Account for unlimited access. I am currently studying towards my MA in Strategic Fashion Marketing at the University of the Arts London: London College of Fashion. The Company operates through four segments: Etsy, Reverb, Depop, and Elo7. Our primary marketplace, Etsy.com, is the global destination for unique and creative goods. Depop's GMS grew at a compounded annual growth rate of nearly 80% from 2017-2020. Depop is the community-powered marketplace app where people exploring style and the latest trends come to shop and sell circular fashion. 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.". "Monthly Active Users (Mau) of The Depop App in The United Kingdom (Uk) from January 2018 to October 2021 (in Millions). 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 . Since Depop works more like a social network platform, it allows sellers to reach more users with their listings. Vinted is more transactional. Up to 140,000 new listings every day. Both platforms are dominant forces, connecting 21 and 26 million users worldwide, respectively. Depop is a peer-to-peer social e-commerce company based in London, with additional offices in Manchester, Milan and New York City. Please see our privacy policy for more information. 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. Its not so long ago that many people wouldnt have thought of themselves as potential resellers, he says. Depop's 2020 gross merchandise sales (GMS) and revenue were approximately $650 million and $70 million, respectively, each increasing over 100% year-over-year. Describe what you're selling. 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. SourceForge ranks the best alternatives to Depop in 2022. Shop now Sell your way Conduct your own research and seek the advice of a licensed financial advisor. The only thing that I would change are the "plus . Etsy has sufficient available liquidity to fund the acquisition. Countries. Phone: (718) 880-3660. p:718 880-3660. 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. Its a fairly common question we often see asked, and the answer isnt all that clear. 6) The app must also have an express courier function, home collection/delivery, users can do everything without leaving home. Comments, questions or feedback? Prices for clothing range from $3-$15. People want the opportunity to buy and sell, but also they want this inspirational layer and entertainment through their experiences.. Do NOT buy from GB via Depop if you live in the EU. Others were also unhappy with the customer service describing it as unresponsive. The user base on Depop is also younger than on Vinted, which, in exchange, has a more international user base. 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. When it comes to newness, this generation has a new lens through which they see new.. Also, while Vinted focuses mainly on the European market, Depop is much more popular in the United States. As in most cases, it depends. As a Premium user you get access to the detailed source references and background information about this statistic. It must've been cuz I mentioned the BBB. Vinted and Depop have different payment policies. New risks emerge from time to time. Alternatives to Depop. Depop seller Adwoa Owusu-Darko has run her brand Mini's World (@minisworld) since 2016. Sell. 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. 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. This presentation contains forward-looking statements within the meaning of the federal securities laws. In November 2019, Business of Fashion reported that users within the Depop app were receiving sexually suggestive messages.[23]. Statista. Compare Depop alternatives for your business or organization using the curated list below. Bahrain. 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. Vinted also works as an intermediary between sellers and buyers, helping resolve issues. 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. Discover unique fashion. These and other risks and uncertainties 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 September 30, 2022, and subsequent reports that we file with the Securities and Exchange Commission. ThredUP currently ships to the United States and Canada, with no current plans to expand to additional countries at this time. Sky warns: "Don't let your photo be more distracting than the product you're selling.". 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. $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. Many sellers model the clothes they sell themselves. Get paid fast when your item sells. <br><br>In the year between finishing my undergraduate degree and beginning my postgraduate studies, I completed as many contract internship .
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