Depop is headquartered in London, England and Los Angeles, California. Unfortunately, Depop doesn't ship directly to Europe. "Monthly active users (MAU) of the Depop app in the United Kingdom (UK) from January 2018 to October 2021 (in millions)." An overwhelming 90 per cent of its active users are under the age of 25. From crypto to clothes: Why Gen Z are investors now, From Essentials to Adidas: Whats next for Fear of God. Depop was founded in 2011 by entrepreneur Simon BeckermanDepop is a buy and sell app that allows you to sell items. Poshmark is currently only available in the United States, Canada, Australia, India, and the United Kingdom. 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. As covered, Vinted connects 21 million users worldwide, operating in 15 countries. Depop's beginnings were also relatively humble. Please create an employee account to be able to mark statistics as favorites. We estimate that one in four 15-24-year old's in Australia are on Depop," says Aria Wigneswaran, Country Manager Australia, Depop.. Growing up in a hyper-connected world, Gen Z is more vulnerable to macro level uncertainties, the report finds. On this Wikipedia the language links are at the top of the page across from the article title. The stock was up about 6.7% Wednesday afternoon. She has about 40,000 followers, and selling clothes online has become a full-time job for her. DollarBreak is reader-supported, when you sign up through links on this post, we may receive compensation. This presentation contains forward-looking statements within the meaning of the federal securities laws. But why Depop? Vinted is more transactional. 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. Depop is the app for you . The platform's "Explore" page features items picked out by Depop staff. 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. Compare Depop alternatives for your business or organization using the curated list below. In March 2016, former CEO, Runar Reistrup, stated that Depop's growth was achieved through word of mouth. Please read the full Terms of use and Privacy Policy. 16.6M+ items are available for sale on Depop. You need a Statista Account for unlimited access. 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. Data is a real-time snapshot *Data is delayed at least 15 minutes. 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. 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. 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. ", "Is Depop being gentrified? The company will send a six-digit code that you can use to verify your account. [14] Users can also follow other sellers, whose posts will appear in their feeds. The freight forwarder accepts the package on your behalf. Shares our two-sided marketplace business model: Depop is a peer-to-peer marketplace with similar capital-light operating model and financial characteristics. Essentially, you'll be able to get any item from the Depop store shipped to Europe, all for a crazy low price. Secondhand may be sustainable but its also cool. You can then. Depop payments are transferred directly to your PayPal account, and no intermediary is involved in handling transactions. 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. A lot of that comes with fluidity and merging the lines of gender that we knew in fashion traditionally., Toms customers are tough to define or categorise. Profit from the additional features of your individual account. Otherwise, all transactions made in the app are protected, so it should be safe to sell on Depop. But let's talk about differences. Forward-looking statements represent our beliefs and assumptions only as of the date hereof. 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. That said, you can expect to ship your items at lower prices when using Vinted. Etsy CEO on how $1.6 billion deal for Depop could help the company grow. 12.9% of the sale price or lower, plus $0.30 per order. Depop reselling is unethical, not because reselling is unethical in general, but because of how it's done. [15] Depop users are also encouraged by the platform to use other social networking services such as Instagram to promote their shop profiles. The Depop social shopping app blends the aesthetic and social aspects of Instagram with the buy-and-sell format of eBay. Otherwise, all transactions made in the app are protected, so it should be safe to sell on Depop. 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. Depop, on the other hand, while having a user base of over 26 million, is only available in 6 countries. Etsy has sufficient available liquidity to fund the acquisition. What distinguishes Depop from Vinted is its emphasis on social features, working as a social network app in addition to being a reselling marketplace. Our primary marketplace, Etsy.com, is the global destination for unique and creative goods. 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. Up to 140,000 new listings every day. (November 8, 2021). Its because theyre reliable, dont charge a bunch of taxes, and offer affordable rates. 4 locations detected. Depop. Its important to have cultural fluidity, she says. Depop should know. 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. Those interested in submitting questions during the conference call can do so by using the Q&A chat window, which will be available during the webcast. In other words, Depop is basically Instagram, but with more transparency about the fact that it's selling you stuff. It allows sellers to reach a broader audience thanks to its social features and emphasises a more professional approach when creating posts. 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. Founded in the U.K. in 2011, Depop lets people buy and sell used clothes through. The company has an expanding global presence being popularised in countries such as the United States, United Kingdom, Australia, New Zealand, and Italy. Overview. To receive packages from the United States, youre going to need to have an address based there. More so, what you earn on Swappa depends on the item you are selling and its condition. [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. Depop is a reliable website that allows you to buy and sell items. 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. While both websites are free, Swappa requires you to pay a small 3% fee once your item sells compared to Depop, which charges 10%. Alternatives to Depop. Algeria. As a Premium user you get access to the detailed source references and background information about this statistic. You need at least a Starter Account to use this feature. Depop is a social shopping app that has been described as a mix of eBay and Instagram. For Gen Z, the trend cycle continues to quicken, posing a challenge for fashion brand marketers seeking to connect with younger consumers. Depop is a peer-to-peer social e-commerce company based in London, with additional offices in Manchester, Milan and New York City. I always say we owe ourselves authenticity. The user base on Depop is also younger than on Vinted, which, in exchange, has a more international user base. . Have to complete the purchase to update your shipping address - Depop [13], Most of the items sold on Depop are used, vintage, and repurposed pieces of clothing. 26M+ registered users over 150 countries. Poshmark is best known for women's fashion, trendy brands, and higher-end clothing and accessories. It incorporates fewer categories and focuses more on a buyer experience, allowing users to make offers faster. However, we have a pretty simple solution that gets around this restriction. As in most cases, it depends. The content on dollarbreak.com is for informational and educational purposes only and cannot replace any professional financial advice. It is largely targeted at Gen Z shoppers [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. Since Depop works more like a social network platform, it allows sellers to reach more users with their listings. Today, Depop is a place where millions of users come to celebrate their style and discover culture. 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. As you can see, while looking practically identical at first glance, Depop and Vinted are two sides of the same coin. Forward-looking statements involve substantial risks and uncertainties that may cause actual results to differ materially from those we expect. Phone: (718) 880-3660. p:718 880-3660. However, we have a pretty simple solution that gets around this restriction. The marketplaces will operate independently, while benefiting from shared expertise in areas such as product, marketing, technology, and customer support. 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. 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. Date of release is date of access.Figures have been rounded. Enter your email to receive editorial updates, special offers and breaking news alerts from Vogue Business. Vinted, for instance, is generally more focused on the transactional side. Then I sent them this. It is one of the few success stories of the dot-com bubble, which . "Etsy acquires clothing resale platform Depop for $1.6 billion", "Gen Z Designers Made It Big on This App. Etsy expects to share more information in conjunction with its second quarter 2021 financial results. [5] In 2015, Depop secured another investment of $8 million from Balderton Capital and Holtzbrinck Ventures. Depop Summary. While no seller likes to pay fees, they are integral to online selling. Both apps also target slightly different audiences. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. You can sign up for additional alert options at any time. Depop reports having over 30 million registered users in over 150 countries. Etsy CEO Josh Silverman called the start-up the"resale home for Gen Z consumers. We're excited to build a 'house of brands' where the whole is greater than the sum of its parts.". 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. Depop is a website and mobile app available in over 150 countries with over 26 million active users. As for Vinted, they have a buyer's protection feature. Items are usually secondhand or homemade. ", 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. eBay is an e-commerce platform, at first only providing customer-to-customer auction services, expanding into business-to-consumer shortly afterwards. 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, for example, charges its sellers 10% of each sale plus the possible PayPal fee for one's country. This type of service is called Freight Forwarding. 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. 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. 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. Depop is a popular second-hand fashion marketplace app with a global community of buyers and sellers. - 30M+ registered users in over 150 countries - 32M+ items are available for sale on Depop - $1 Billion made by the Depop community to date How to join Depop Depop should know. 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. Depop's mission statement is "to change the way people buy, sell and think about fashion." Is Depop second hand? Depop, on the other hand, while having a user base of over 26 million, is only available in 6 countries. The deal marks the biggest acquisition yet for Etsy, which went public on the New York Stock Exchange in 2015. 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. Discover unique fashion. Sell. We want to hear from you. 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. 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.
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