As soon as this statistic is updated, you will immediately be notified via e-mail. 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. <br><br>I have demonstrated skills and experience in public relations, fashion marketing, and fashion communications. Depop is expected to be accretive to Etsy's top line growth rate and modestly dilutive to Etsy's adjusted EBITDA margin. As a Premium user you get access to the detailed source references and background information about this statistic. ", "Is Depop being gentrified? Got a confidential news tip? Tom Evans says Depop has become his primary source of income. All Rights Reserved. Profit from the additional features of your individual account. Fluidity extends beyond gender identity. Data is a real-time snapshot *Data is delayed at least 15 minutes. Using a Vinted or Depop app, users can sell, buy, or exchange their used clothes. 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. From crypto to clothes: Why Gen Z are investors now, From Essentials to Adidas: Whats next for Fear of God. GET SERVICE INSTANTLY . The number of app users in the United Kingdom went from. Type Subsidiary . 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. OpenAI explain why some countries are excluded from ChatGPT Download PDF. Depop is the marketplace where you can explore your style. Press J to jump to the feed. You simply register an account with a Freight Forwarder, and theyll provide you with a U.S. based address. Take up to four photos. 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. Once you make a sale, Depop will send the money to the PayPal account that youve already linked to your account. [6] Most active users of Depop are located in the United Kingdom, Australia, United States and Italy. 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. The company is headquartered in London, with offices in Manchester, New York, Los Angeles and Sydney. [15] Depop users are also encouraged by the platform to use other social networking services such as Instagram to promote their shop profiles. Depop is primarily known for its vintage, streetwear, one-of-a-kind and Y2K (late 1990s/early 2000s) fashion. Etsy expects to finalize the deal by the third quarter of 2021. Depop is the community-powered fashion marketplace to buy and sell unique fashion, with over 30 million registered users in more than 150 countries. [16] Celebrities have resold their own items on Depop, with some donating proceeds to charitable causes. Prices for clothing range from $3-$15. To download the Depop mobile app, go to Google Play and click download. 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. 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. We love Depop's rapidly growing GMS and loyal and engaged customer base, excellent user engagement and unit economics, opportunities to expand value added seller services, clear path for geographic expansion, and highly scalable, 'capital light' operating model. [9], In 2020, Depop's gross merchandise sales and revenue both more than doubled to $650 million and $70 million respectively. 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 should know. It provides a mobile marketplace that enables individuals to buy and sell their items on iOS and Android platforms. Selling on Depop and Vinted looks pretty similar, requiring sellers to engage in increasing sales. Depop | Buy & Sell Clothing on the App Store This app is available only on the App Store for iPhone. Depop is the community-powered fashion marketplace to buy and sell unique fashion, with over 30 million registered users in more than 150 countries. This partly refers to self-identity. 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). When expanded it provides a list of search options that will switch the search inputs to match the current selection. Depop reselling is unethical, not because reselling is unethical in general, but because of how it's done. 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 popular second-hand fashion marketplace app with a global community of buyers and sellers. 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. Get the item and o rate your experience with the seller. Available on Android and iOS (free) Another great app for the starving student! Monthly active users (MAU) of the Depop app in the United Kingdom (UK) from January 2018 to October 2021 (in millions) [Graph]. 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. --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. Depop, on the other hand, while having a user base of over 26 million, is only available in 6 countries. 12.9% of the sale price or lower, plus $0.30 per order. 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. don't give up! Shares of Etsy have more than doubled in the last 12 months thanks to an e-commerce boom resulting from the coronavirus pandemic. Simon Beckerman and Maria Raga are the co-founders and current owners of Depop. Moreover, we operate in a very competitive and rapidly changing environment. Which one is better, though? You can also save money on shipping by using Packlink to compare couriers and find the most cost-efficient solution. (November 8, 2021). Accessed March 04, 2023. https://www.statista.com/statistics/1122928/depop-monthly-active-users-uk/, Airnow. Like Depop, Decluttr is free to download and use. For Semple, physical events remain hugely relevant. Conduct your own research and seek the advice of a licensed financial advisor. 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. r/Depop W for me today after 10 incompetent depop support representatives finally got someone to review my account suspension. Depop significantly grows Etsy's GMS in the apparel sector, which was ~$1 billion in 2020. While creating a Depop account, your phone number will be required. The app is also meant for buyers looking for items they can buy. A copy of the presentation that will be covered on the conference call will also be posted to our website. 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. Depop is a peer-to-peer social shopping app based in London that first launched in 2011. In 2020, Depops gross merchandise sales and revenue increased to $650 million and $70 million, respectively. They come to Depop for the clothes, but stay for the culture. BROOKLYN, N.Y., June 2, 2021 /PRNewswire/ --Etsy, Inc. (NASDAQ: ETSY), 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 Depop, a privately-held, community-led, and purpose-driven marketplace for unique fashion for $1.625 billion consisting primarily of cash, 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. 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. To minimize the likelihood of being scammed, you should only make a transaction through the app and not offline or off the platform. "Monthly Active Users (Mau) of The Depop App in The United Kingdom (Uk) from January 2018 to October 2021 (in Millions). 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. Depop | Buy & Sell Clothing 12+ Resale Marketplace for Clothes Depop Ltd #60 in Shopping 4.8 399.1K Ratings Free iPhone Screenshots Buy. Since Depop has attracted young people, you can expect a lot of clothing and other items to be approved by the millenials. ", 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. Deb Wasser
In light of such risks, readers are cautioned not to place undue reliance on such forward-looking statements. While some users complained of poor customer service, Depop can help you make extra money online. 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. For sellers, we offer a range of tools and services that address key business needs. This type of service is called Freight Forwarding. Depop is planning to run in-person events for later this year, similar to its 2019 Depop live series in New York and London, which brought together sellers and performers to create physical resale spaces alongside an events programme. Following the close of this transaction, Etsy Inc. will operate three highly differentiated, non-commoditized and loved ecommerce brands: Etsy, Reverb, and Depop. In the post-pandemic era, music and entertainment experiences that go beyond buying and selling will be much-needed by Gen Z, he says. More so, what you earn on Swappa depends on the item you are selling and its condition. 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 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 . Instead, the app uses an escrow service that holds the money in your Vinted wallet until the buyer gets and accepts the item. 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. [12] It is the 10th most-visited shopping platform for Gen Z consumers in the US,[18] and, in a poll conducted by The Strategist in 2019, Depop was voted by teenagers as their favorite resale website. Dont worry, youre not going to need to splash out on a property, there is a much cheaper solution. Up to 140,000 new listings every day. We're a community that inspires and connects our users." Company summary. 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. The default refresh interval is a random number between 1 and 3 seconds. Test out different poses. 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. Currently, you are using a shared account. It really makes us think about, how do we serve these journeys? 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?. Dont expect easy answers. I agree to receive your newsletter. It is one of the few success stories of the dot-com bubble, which . 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. These are called 'Shop Policies,' stating whether you accept returns as a seller. At Etsy, we promise to treat your data with respect and will not share your information with any third party. Here in the United States, it doesn't. As for Vinted, they have a buyer's protection feature. 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. A lot of people in my generation have that set-up income from a few little baskets, he says. Place your item in a box or shipping envelope, available at office supply stores or the post office. OLIO. Does the Depop online store ship items overseas to Europe? Shares our two-sided marketplace business model: Depop is a peer-to-peer marketplace with similar capital-light operating model and financial characteristics. The first difference is the market available. Etsy has sufficient available liquidity to fund the acquisition. $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. In March 2016, former CEO, Runar Reistrup, stated that Depop's growth was achieved through word of mouth. You can unsubscribe anytime. Kasera has had a long career in personal finance having spent over 5 years working as a financial advisor directly with CEOs, business owners, and entrepreneurs. With a website and apps available on both iOS and Android, Depop promises to be an online shopping. Founded in the U.K. in 2011, Depop lets people buy and sell used clothes through. 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. 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. Items are usually secondhand or homemade. Disclosure. Please read the full Terms of use and Privacy Policy. That presents a challenge for Depop. It's a bit more buyer-friendly, encouraging users to make quick transactions and enabling them that by intuitive and straightforward service. Depop is the community-powered marketplace app where people exploring style and the latest trends come to shop and sell circular fashion. Swappa is a peer-to-peer marketplace that allows you to sell and buy used electronics. Have to complete the purchase to update your shipping address - Depop Depop is a peer-to-peer social e-commerce company based in London, with additional offices in Manchester, Milan and New York City. A sub for discussing all things Depop. A Division of NBCUniversal. However, while both apps provide practically the same services, they differ in a few key areas. Weve talked about fluidity as much more than gender for some time at Depop, says chief brand officer Peter Semple. 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. 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. With a background in economics and now e-business, she has joined Dollarbreak to share her experience, to help individuals make sound financial decisions revolving around budgeting, spending, money making and investing. The marketplaces will operate independently, while benefiting from shared expertise in areas such as product, marketing, technology, and customer support. Then you can access your favorite statistics via the star in the header. I'm trying to figure out an alternative atm 10 Then I sent them this. 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. by Jerret West, CVP Gaming Marketing, Xbox Feb 28, 2023 @ 12:01am. 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. 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. [8][bettersourceneeded], In June 2019, Depop raised $62 million in Series C from General Atlantic to fund its expansion. Our primary marketplace, Etsy.com, is the global destination for unique and creative goods. 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 . Sign up to our newsletter for a truly global perspective on the fashion industry. Vinted, for instance, is generally more focused on the transactional side. Why do we think MyUS is the best? 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. Decluttr is an online app that allows you to sell your used media. Airnow. ", 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. The app has over 10 million users and is available in over 100 countries. Depop has evolved to become the community-powered fashion marketplace to buy and sell unique fashion, with approximately 30 million registered users in more than 150 countries. But their interest in secondhand clothes also has significance beyond save-the-planet instincts. By Lisa Lacy. 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. . ", 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. Forward-looking statements represent our beliefs and assumptions only as of the date hereof. Depop promises not to share your details with third parties. The company was founded in 2011 and is headquartered in London . However, while the idea behind the two is similar, there are some key differences between Vinted and Depop. Launched in Lithuania in 2008, Vinted quickly expanded to 10 more countries, becoming an instant success among clothes reselling apps. Decide your price. People want the opportunity to buy and sell, but also they want this inspirational layer and entertainment through their experiences.. 147. 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. The Depop study echoes this point, with respondents underlining fluid identity when buying and selling clothes. Compare Depop alternatives for your business or organization using the curated list below. 16.6M+ items are available for sale on Depop. Phones,laptops,wearables,Tablets,video games, Electronic, fashion,health, and beauty products, No limit to the type of products you can sell. In 2021, Depop was acquired by Etsy for $1.6 billion. Posting and selling using the platform are completely free, and the buyer pays the fees associated with the sale. Here are some vital facts and figures about how Depop works today. Now They're Graduating", "Artefact In conversation with | Depop founder Simon Beckerman", "TechTalk con Simon Beckerman, Riccardo Donadon e Paolo Barberis su Depop, la startup diventata unicorno", "Social Shopping App Depop Raises $8M, Hires Ex-Reddit GM To Break Into US Market", "The Entrepreneur: Runar Reistrup, Depop", "Depop, a social app targeting millennial and Gen Z shoppers, bags $62M, passes 13M users", "Etsy Buys Depop, Fashion Resale Site Popular With Gen Z, for $1.6 Billion", "Etsy is buying the fashion resale app Depop for $1.6 billion", "Etsy is acquiring UK-based social selling site Depop for $1.625B in a mostly cash deal", "All Those Millennials Can't Be Wrong: Why Depop Just Might Change the Way You Shop", "Why Teens Are Selling Clothes Out of Their Closets", "Etsy targets Gen Z shoppers with $1.6 billion Depop acquisition", "9 Celebs With Depop: The Millennial Thrift Shop", "United States B2C Ecommerce Market Report 2022: Market is Expected to Grow by 11.80% to Reach $1,574.5 Billion in 2022 - Forecasts to 2026", "Depop Is the New Instagram but Not in a Good Way", "Depop: Can pre-loved clothes make fast fashion sustainable? [5] In 2015, Depop secured another investment of $8 million from Balderton Capital and Holtzbrinck Ventures. 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. 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.". By providing your email address below, you are providing consent to Etsy to send you the requested Investor Email Alert updates. Depop is all about community - it's the buyers and sellers who use Depop who make it such a great place. Depop seller Adwoa Owusu-Darko has run her brand Mini's World (@minisworld) since 2016. For Gen Z, the trend cycle continues to quicken, posing a challenge for fashion brand marketers seeking to connect with younger consumers. In, Airnow. It's nothing else than a standard return policy where buyers can return items that might be damaged, missing, or cancelled. Depop is a legitimate app that allows sellers and buyers to trade their items hence not a scam. 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. Depop was established as a social network for readers of PIG magazine back in 2011 by magazine founder - and head of sunglasses brand Retrosuperfuture - Simon Bekerman. Etsy CEO Josh Silverman called the start-up the"resale home for Gen Z consumers. On the other hand, Depop sellers can absorb the postage cost by hiding it in the item's price as free shipping. ". Please read rules before posting. Algeria. You can unsubscribe at any time. With roughly 30 million registered users across nearly 150 countries,. But why Depop? Depop's beginnings were also relatively humble. The benefit of this service is you can order from anywhere in the United States and get your items shipped to Europe. The app is currently available only in European countries, but it's expected to soon be available in the US too. 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. 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. 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.