Learn more about how Statista can support your business. You simply register an account with a Freight Forwarder, and theyll provide you with a U.S. based address. It surveyed 2,176 Depop users from the UK, US and Australia and conducted individual interviews with a sample of Depop sellers, analysed alongside insights from Bain & Company. LocationsView all. In 2021, Depop was acquired by Etsy for $1.6 billion. It also gives the online marketplace a bigger footprint in fashion resale. 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. The freight forwarder accepts the package on your behalf. Press J to jump to the feed. 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. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. I agree to receive your newsletter. What Is Depop? Everything You Need to Know About the Resale App Paypal withholds those Depop users funds from any items sold for a minimum of 21 days from the date of sale[citation needed]. Please read the full Terms of use and Privacy Policy. Depop is a popular second-hand fashion marketplace app with a global community of buyers and sellers. Depop is powered by young influencers like 20-year-old Moira Campos who is one of Depop's top sellers. Weve talked about fluidity as much more than gender for some time at Depop, says chief brand officer Peter Semple. 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. This presentation contains forward-looking statements within the meaning of the federal securities laws. [8][bettersourceneeded], In June 2019, Depop raised $62 million in Series C from General Atlantic to fund its expansion. [6] Beckerman raised 1 million in funding in October 2013 from Red Circle Investment and brought on Faroese Runar Reistrup as new CEO. Etsy is buying Gen Z-focused fashion resale app Depop for $1.62 billion You can sign up for additional alert options at any time. However, it soon started to spread across other markets, eventually becoming a worldwide marketplace for second-hand clothing. Depop: number of downloads per month 2022 | Statista Monthly active users (MAU) of the Depop app in the United Kingdom (UK) from January 2018 to October 2021 (in millions) [Graph]. Please do not hesitate to contact me. Vinted also works as an intermediary between sellers and buyers, helping resolve issues. 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. Overview. Users can buy and sell clothing, accessories, and beauty products. 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. New risks emerge from time to time. When expanded it provides a list of search options that will switch the search inputs to match the current selection. 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. Depop is designed for sellers who want to sell items such as clothing, shoes, clothes, vintage clothes and items, and cheap streetwear. Once you make a sale, Depop will send the money to the PayPal account that youve already linked to your account. Depop is a social shopping app that has been described as a mix of eBay and Instagram. Men's Black and Blue Trainers | Depop 90% of Depop's active users are under the age of 26.Depop. The first difference is the market available. If you're trying to browse thredUP from another country, you unfortunately won't be able to access our site and will have restricted website access. What distinguishes Depop from Vinted is its emphasis on social features, working as a social network app in addition to being a reselling marketplace. Depop allows its sellers to include rules buyers can see when scrolling through their posts. If you think about selling your old clothes online, two reselling apps immediately spring to mind - Vinted and Depop. Available on Android and iOS (free) Another great app for the starving student! A paid subscription is required for full access. Y, 2019. Dont expect easy answers. Thrift stores, in the Poway area, are pretty cheap. Fluidity extends beyond gender identity. 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. However, while both apps provide practically the same services, they differ in a few key areas. 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. ", 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. Ganni, Patagonia and Reformation join pilot to decarbonise fashion, US retailers prepare for new normal in 2023 after rocky year, Chanel names Whitney Peak as new face of Coco Mademoiselle, The Long View by Vogue Business: Gen Zs power will reshape luxury, Post-pandemic playbook: What Gen Z want from physical retail, Fluidity, glamour and pop culture: The top trends of 2021, Enter your email to receive editorial updates, special offers and breaking news alerts from, From TikTok to Depop: Fashions new trend funnel. Comments, questions or feedback? Depop Careers and Employment | Indeed.com 12.9% of the sale price or lower, plus $0.30 per order. Depop significantly grows Etsy's GMS in the apparel sector, which was ~$1 billion in 2020. It's easy to get started - just create an account to start selling. Like Depop, eBay charges a commission of 10% on all the items sold. 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?. 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. Depop is not available in some countries from summer (I cant remember exact month when this happened). Commercial Credit Report for Etsy Inc - Report Preview An overwhelming 90 per cent of its active users are under the age of 25. Etsy to acquire global fashion resale marketplace Depop 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. . Depop's GMS grew at a compounded annual growth rate of nearly 80% from 2017-2020. Depop Review 2023 - Plans, Pros, Cons and Alternatives - DollarBreak Can I buy and sell on Poshmark if I'm not in the United States? Pop-Tarts x Depop is Here For Fashion and Food Fans Craving Unique 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. Adwoa Owusu-Darko (@minisworld) even runs a mentorship business, teaching others how to mirror her Depop success. A copy of the presentation that will be covered on the conference call will also be posted to our website. This press release (including statements quoted in this press release) contains forward-looking statements within the meaning of the federal securities laws. Selling on Poshmark vs. Selling on Depop - Vendoo 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. While no seller likes to pay fees, they are integral to online selling. You can also move the money to your bank account once its transferred to PayPal. Our community is made up of people who are creating a new fashion system by establishing new trends and making new from old. With over 26 million users in more than 150 countries, Depop is the place for anyone looking to celebrate style on their terms and keeping millions of items of clothing in rotation. How to sell on Depop according to some successful sellers - RUSSH Discover unique fashion. Depop is a reliable website that allows you to buy and sell items. What Is Depop? The Clothing Resale App That Gen-Zers Are Using - CNBC The benefit of this service is you can order from anywhere in the United States and get your items shipped to Europe. Ticker: ETSY. Does the Depop online store ship items overseas to Europe? They come to Depop for the clothes, but stay for the culture. Tom Evans says Depop has become his primary source of income. The platform is very similar to other online marketplaces like eBay, Facebook Marketplace, Mercari, or Poshmark. Secondhand may be sustainable but its also cool. (November 8, 2021). <u>Company Description</u><br><br>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 is the community-powered fashion marketplace to buy and sell unique fashion, with over 30 million registered users in more than 150 countries. Enter your email to receive editorial updates, special offers and breaking news alerts from Vogue Business. 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. Also, while Vinted focuses mainly on the European market, Depop is much more popular in the United States. The app has over 10 million users and is available in over 100 countries. 2023 CNBC LLC. Document Posting and selling using the platform are completely free, and the buyer pays the fees associated with the sale. ", "Is Depop being gentrified? The stock was up about 6.7% Wednesday afternoon. r/Depop W for me today after 10 incompetent depop support representatives finally got someone to review my account suspension. The only thing that I would change are the "plus . To contact Depop customer service, go to the help desk page, enter your details and submit. Also, while Vinted focuses mainly on the European market, Depop is much more popular in the United States. 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. Unfortunately, some users complained that the platform would hold your money for a long time before closing your accounts. 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. Send your buyer a message thanking them and letting them know when you plan to ship; Ship ASAP using tracked delivery. ETSY. And then I still do a few [dance] teaching jobs and dance performance jobs on the side. 16.6M+ items are available for sale on Depop. With its app available on iOS and Android, Depop promises to be an online shopping site for most items, including designer, preloved, vintage, sneakers, and streetwear. The mission of my brand is to represent the underrepresented, says Depop seller Tom Evans (@areaeighteen). Its marketplace connects over 21 million users, selling, buying, and exchanging second-hand clothes and accessories. 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. Which one is better, though? Depop was founded in 2011 by entrepreneur Simon BeckermanDepop is a buy and sell app that allows you to sell items. Depop's beginnings were also relatively humble. Once the package is received, the freight forwarder will ship the package directly to you in Europe. 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. An overwhelming 90 per cent of its active users are under the age of 25. View original content:http://www.prnewswire.com/news-releases/etsy-to-acquire-global-fashion-resale-marketplace-depop-301303695.html. We'll now take an exciting leap forward as part of the Etsy family, benefiting from Josh's and his team's expertise, and the resources of a much larger company whose values are so aligned with ours here at Depop. You can unsubscribe at any time. Depop Company Profile - Office Locations, Competitors - Craft Since Depop works more like a social network platform, it allows sellers to reach more users with their listings. It incorporates fewer categories and focuses more on a buyer experience, allowing users to make offers faster. The Company's primary marketplace, Etsy . As you can see, while looking practically identical at first glance, Depop and Vinted are two sides of the same coin. GET SERVICE INSTANTLY . How does Depop work? - Depop Blog Selling on Depop and Vinted looks pretty similar, requiring sellers to engage in increasing sales. While some users complained of poor customer service, Depop can help you make extra money online. 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. How do you just dip in and dip out and find what you need to sell quickly, sell simply and sell easily and then carry on with your life?. It was established in 2011 by Simon Bekerman and now has over 15 million . 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. 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. Depop is the app for you . 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? Depop also pays via PayPal compared to Decluttr, which uses Direct deposit, PayPal, and Check. From crypto to clothes: Why Gen Z are investors now, From Essentials to Adidas: Whats next for Fear of God. Essentially, youll be able to get any item from the Depop store shipped to Europe, all for a crazy low price. It allows users to buy and sell items, most of which are used and vintage pieces of clothing. Abigail Cooper - Seller - Depop | LinkedIn With over 26m users in more than 150 countries, Depop is the place for anyone looking to celebrate style on their terms and keeping millions of items of clothing in rotation. 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. Accessed March 04, 2023. https://www.statista.com/statistics/1122928/depop-monthly-active-users-uk/, Airnow. "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," Silverman said in a statement Wednesday. In an age of financial uncertainty, young people are taking finances into their own hands. The user base on Depop is also younger than on Vinted, which, in exchange, has a more international user base. 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. Community Affiliates Manager, Depop Socialfixt r/Depop on Reddit: Contacted depop on Twitter about the banner showing While Decluttr focuses on selling media stuff such as used tech and media such as CDs, DVDs, and Blu-rays, Depops primary focus is selling clothing, shoes, and other items. Depop is a legitimate app that lets sellers sell items and buyers buy items; hence not a scam. 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. For sellers, we offer a range of tools and services that address key business needs. funds from depop transaction still on hold despite - PayPal Community E-commerce firm Etsy announced Wednesday that it is buying the secondhand fashion app Depop for $1.62 billion. As a part of our mission to expand the joy and community of gaming to every player in the world, we're excited to announce we're bringing a preview of PC Game Pass to 40 new countries for the first time ever, comprising: Albania. Investor Relations Manager, Advances leadership in community-driven and differentiated marketplaces, Etsy to acquire global fashion resale marketplace Depop. . The website was launched in 2011 as a social network for PIG magazine readers wanting to buy featured items. Meet Bella McFadden, who made $1 million on Depop - Fast Company Depop will remain headquartered in London, Etsy said, operating as a standalone business run by current management. Chart. We're a community that inspires and connects our users." A sub for discussing all things Depop. [17], As of 2021, Depop has over 21 million users, 90 percent of whom are under the age of 26. While some users complained of poor customer service, Depop can help you make extra money online. With 4 million active buyers and 2 million . To receive packages from the United States, youre going to need to have an address based there. We're excited to build a 'house of brands' where the whole is greater than the sum of its parts.". Like Depop, Decluttr is free to download and use. Compare Depop alternatives for your business or organization using the curated list below. Depop is powered by a team of around 400 people, dedicated to our mission of fashion for a better future. Growing up in a hyper-connected world, Gen Z is more vulnerable to macro level uncertainties, the report finds. To minimize the likelihood of being scammed, you should only make a transaction through the app and not offline or off the platform. Our company was founded in 2005 and is headquartered in Brooklyn, New York. Depop, which first emerged from an Italian tech incubator in 2011, then established its headquarters in London, is a dark horse in the fashion ecom wars. Its important to have cultural fluidity, she says. The Dark Side of Depop | BoF - The Business of Fashion Depop is the marketplace where you can explore your style. Then I sent them this. As a Premium user you get access to the detailed source references and background information about this statistic. ThredUP currently ships to the United States and Canada, with no current plans to expand to additional countries at this time. 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.". [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. Etsy to acquire global fashion resale marketplace Depop Depop is a website and mobile app available in over 150 countries with over 26 million active users. 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. 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. In November 2019, Business of Fashion reported that users within the Depop app were receiving sexually suggestive messages.[23]. Make sure your clothing is the focal point of the picture by keeping the . You must click the activation link in order to complete your subscription. When we do drops, its really hard to kind of nail down an aesthetic.. Etsy Shells Out $1.6B to Buy Depopand to Reach Gen Z - Adweek Depop, on the other hand, is a better choice for a small business. Take up to four photos. It is one of the few success stories of the dot-com bubble, which . Like Depop, Swappa pays via PayPal. I am currently studying towards my MA in Strategic Fashion Marketing at the University of the Arts London: London College of Fashion.