Depop is an online hub where people buy and sell used clothing, vintage shoes, and accessories, and the hub is disrupting the global retail industry. Our primary marketplace, Etsy.com, is the global destination for unique and creative goods. It provides a mobile marketplace that enables individuals to buy and sell their items on iOS and Android platforms. Therefore, Vinted might be a better choice for a casual seller interested in making some extra money. 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. It is largely targeted at Gen Z shoppers Sign up to our newsletter for a truly global perspective on the fashion industry. Depop is expected to be accretive to Etsy's top line growth rate and modestly dilutive to Etsy's adjusted EBITDA margin. Access to this and all other statistics on 80,000 topics from, Show sources information Thrift stores, in the Poway area, are pretty cheap. Following the close of this transaction, Etsy Inc. will operate three highly differentiated, non-commoditized and loved ecommerce brands: Etsy, Reverb, and Depop. Weve been a long time customer of MyUS, and weve never had any issues with their service. 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. You need a Statista Account for unlimited access. 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. [17], As of 2021, Depop has over 21 million users, 90 percent of whom are under the age of 26. Many sellers model the clothes they sell themselves. OLIO. 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. Dont worry, youre not going to need to splash out on a property, there is a much cheaper solution. On this Wikipedia the language links are at the top of the page across from the article title. 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. 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. A Division of NBCUniversal. Fluidity extends beyond gender identity. Etsy expects to finalize the deal by the third quarter of 2021. As of 2021, Depop has over 30 million users, 90 percent of whom are under the age of 26. As a Premium user you get access to background information and details about the release of this statistic. 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. Create an account to follow your favorite communities and start taking part in conversations. Poshmark is available in the U.S., Canada, India, and Australia, but at this time Poshers cannot buy or sell outside of their country. In light of such risks, readers are cautioned not to place undue reliance on such forward-looking statements. [11][12], Depop is a social e-commerce platform where users can buy and resell their items. More so, what you earn on Swappa depends on the item you are selling and its condition. 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. Forward-looking statements include all statements that are not historical facts. [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. But let's talk about differences. To contact Depop customer service, go to the help desk page, enter your details and submit. . You can also move the money to your bank account once its transferred to PayPal. You must click the activation link in order to complete your subscription. Popular sellers on the platform often go on to become social media influencers. 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. Market leadership, with authentic, organic brand traction: Depop deepens our reach into the Gen Z consumer, with differentiated brand strength, strong user engagement and unit economics. The app is also meant for buyers looking for items they can buy. Depop is a place for anyone to discover and . ", 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.". You can also email them at support@depop.com. 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. Sign up for free newsletters and get more CNBC delivered to your inbox. 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. When expanded it provides a list of search options that will switch the search inputs to match the current selection. 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?. Take a picture of the item, describe it, set a price for it, and post. Depop, on the other hand, is a better choice for a small business. Get paid for the item and start the shipping process. It caters to a variety of different fashion pieces such as designer, vintage, and streetwear. 22. 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. "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. 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. Depop is the app for you . It's nothing else than a standard return policy where buyers can return items that might be damaged, missing, or cancelled. Buyers come to Etsy to be inspired and delighted by items that are crafted and curated by creative entrepreneurs. Company summary. Please read rules before posting. The Depop social shopping app blends the aesthetic and social aspects of Instagram with the buy-and-sell format of eBay. Sky warns: "Don't let your photo be more distracting than the product you're selling.". Also, while Vinted focuses mainly on the European market, Depop is much more popular in the United States. And then I still do a few [dance] teaching jobs and dance performance jobs on the side. Test out different poses. E-commerce firm Etsy announced Wednesday that it is buying the secondhand fashion app Depop for $1.62 billion. An overwhelming 90 per cent of its active users are under the age of 25. Show publisher information With a website and apps available on both iOS and Android, Depop promises to be an online shopping. The marketplaces will operate independently, while benefiting from shared expertise in areas such as product, marketing, technology, and customer support. In June 2021, Etsy announced it would acquire Depop for $1.6 billion in cash. . 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. You can unsubscribe at any time. You can only download this statistic as a Premium user. 2023 CNBC LLC. Secondhand may be sustainable but its also cool. Simon Beckerman and Maria Raga are the co-founders and current owners of Depop. [13], Most of the items sold on Depop are used, vintage, and repurposed pieces of clothing. 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. [4] Its headquarters were moved to London in 2012. E-commerce firm Etsy announced Wednesday that it is buying the secondhand fashion app Depop for $1.62 billion. 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's beginnings were also relatively humble. The transaction is currently expected to close during the third quarter of 2021, subject to satisfaction of customary closing conditions, including antitrust review in the United States and the United Kingdom. Once you make a sale, Depop will send the money to the PayPal account that youve already linked to your account. After submitting your request, you will receive an activation email to the requested email address. i sold a pair of shoes on depop about ten days ago, and they were delivered on wednesday, 1/15/2021. [7] Depop was the official app sponsor of the 2016 Vans Warped Tour. Depop allows its sellers to include rules buyers can see when scrolling through their posts. Depop payments are transferred directly to your PayPal account, and no intermediary is involved in handling transactions. Etsy CEO Josh Silverman called the start-up the"resale home for Gen Z consumers. 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. [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. Credit Suisse served as exclusive financial advisor to Depop and Weil, Gotshal & Manges LLP served as its legal advisor. Statista. Launched in Lithuania in 2008, Vinted quickly expanded to 10 more countries, becoming an instant success among clothes reselling apps. 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 platform's "Explore" page features items picked out by Depop staff. In November 2019, Business of Fashion reported that users within the Depop app were receiving sexually suggestive messages.[23]. They come to Depop for the clothes, but stay for the culture. 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. 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. 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. Please create an employee account to be able to mark statistics as favorites. And it doesn't look like there's a way to list items from a computer. For Semple, physical events remain hugely relevant. r/Depop W for me today after 10 incompetent depop support representatives finally got someone to review my account suspension. Depop. <br><br>I have demonstrated skills and experience in public relations, fashion marketing, and fashion communications. 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. Got a confidential news tip? 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. June 2, 2021. Depop also pays via PayPal compared to Decluttr, which uses Direct deposit, PayPal, and Check. 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. ", Airnow, Monthly active users (MAU) of the Depop app in the United Kingdom (UK) from January 2018 to October 2021 (in millions) Statista, https://www.statista.com/statistics/1122928/depop-monthly-active-users-uk/ (last visited March 04, 2023), Monthly active users (MAU) of the Depop app in the United Kingdom (UK) from January 2018 to October 2021 (in millions) [Graph], Airnow, November 8, 2021. 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. Conduct your own research and seek the advice of a licensed financial advisor. Depop Summary. DollarBreak is reader-supported, when you sign up through links on this post, we may receive compensation. The buyer pays shipping costs and a small buyer protection fee when buying via Vinted. Instead, the app uses an escrow service that holds the money in your Vinted wallet until the buyer gets and accepts the item. Unlike Depop sellers, Vinted sellers don't pay any fees. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service.
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