Posting and selling using the platform are completely free, and the buyer pays the fees associated with the sale. 26M+ registered users over 150 countries. 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. GET SERVICE INSTANTLY . It allows sellers to reach a broader audience thanks to its social features and emphasises a more professional approach when creating posts. In some cases, forward-looking statements can be identified by terms such as anticipate, believe, could, enable, estimate, expect, goal, intend, may, outlook, plan, potential, target, will, or similar expressions and derivative forms and/or the negatives of those words. After submitting your request, you will receive an activation email to the requested email address. Get the item and o rate your experience with the seller. Depop is the community-powered fashion marketplace to buy and sell unique fashion, with over 30 million registered users in more than 150 countries. [6] Beckerman raised 1 million in funding in October 2013 from Red Circle Investment and brought on Faroese Runar Reistrup as new CEO. When we do drops, its really hard to kind of nail down an aesthetic.. 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. The Company's primary marketplace, Etsy . 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? Here are some vital facts and figures about how Depop works today. 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. About Depop Our leadership Facts and figures. 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. [13], Most of the items sold on Depop are used, vintage, and repurposed pieces of clothing. 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. Etsy, Inc. operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world. 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. The freight forwarder accepts the package on your behalf. Weve talked about fluidity as much more than gender for some time at Depop, says chief brand officer Peter Semple. If you have several packages, MyUS can bundle the packages into one order. This press release (including statements quoted in this press release) contains forward-looking statements within the meaning of the federal securities laws. Depop, on the other hand, is a better choice for a small business. By Lisa Lacy. Depop is all about community - it's the buyers and sellers who use Depop who make it such a great place. 6) The app must also have an express courier function, home collection/delivery, users can do everything without leaving home. An overwhelming 90 per cent of its active users are under the age of 25. 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. As a mobile app, it is available on iOS and Android platforms. While creating a Depop account, your phone number will be required. Depop | Buy & Sell Clothing 12+ Resale Marketplace for Clothes Depop Ltd #60 in Shopping 4.8 399.1K Ratings Free iPhone Screenshots Buy. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. I am currently studying towards my MA in Strategic Fashion Marketing at the University of the Arts London: London College of Fashion. The platform's "Explore" page features items picked out by Depop staff. Data is a real-time snapshot *Data is delayed at least 15 minutes. 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. Poshmark is currently only available in the United States, Canada, Australia, India, and the United Kingdom. It must've been cuz I mentioned the BBB. Some of the motivations for using Depop come as no surprise 75 per cent of those surveyed are looking to reduce clothing consumption. [14] Users can also follow other sellers, whose posts will appear in their feeds. Selling on Depop and Vinted looks pretty similar, requiring sellers to engage in increasing sales. Retailers and brands might consider how they can inspire Gen Z to be entrepreneurs. E-commerce firm Etsy announced Wednesday that it is buying the secondhand fashion app Depop for $1.62 billion. Depop payments are transferred directly to your PayPal account, and no intermediary is involved in handling transactions. 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. 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. The only pricey item I've found is a pantsuit that cost around $20. Credit Suisse served as exclusive financial advisor to Depop and Weil, Gotshal & Manges LLP served as its legal advisor. 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 will remain headquartered in London, Etsy said, operating as a standalone business run by current management. Unfortunately, Depop doesnt ship directly to Europe. At Etsy, we promise to treat your data with respect and will not share your information with any third party. 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. [Online]. 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 the community-powered marketplace app where people exploring style and the latest trends come to shop and sell circular fashion. How do we make sure we have the right tools for you if you want to effectively be a casual seller (of which there are many more than there were one year ago). . Depop is designed for sellers who want to sell items such as clothing, shoes, clothes, vintage clothes and items, and cheap streetwear. "Monthly Active Users (Mau) of The Depop App in The United Kingdom (Uk) from January 2018 to October 2021 (in Millions). It incorporates fewer categories and focuses more on a buyer experience, allowing users to make offers faster. To minimize the likelihood of being scammed, you should only make a transaction through the app and not offline or off the platform. Conduct your own research and seek the advice of a licensed financial advisor. 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. Depop should know. Depop is a peer-to-peer social shopping app based in London that first launched in 2011. The Depop plan sets out a series of targets to hit by the end of 2021. While some users complained of poor customer service, Depop can help you make extra money online. Forward-looking statements involve substantial risks and uncertainties that may cause actual results to differ materially from those that we expect. This partly refers to self-identity. As soon as this statistic is updated, you will immediately be notified via e-mail. Get this delivered to your inbox, and more info about our products and services. "To some degree, we have a closer relationship with Gen Z . Ticker: ETSY. Statista. Otherwise, all transactions made in the app are protected, so it should be safe to sell on Depop. The company was founded in 2011 and is headquartered in London . Only limited information is available about the algorithms and modelling behind ChatGPT, which makes it difficult . ". The Company operates through four segments: Etsy, Reverb, Depop, and Elo7. Using a Vinted or Depop app, users can sell, buy, or exchange their used clothes. 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. [17], As of 2021, Depop has over 21 million users, 90 percent of whom are under the age of 26. The Depop social shopping app blends the aesthetic and social aspects of Instagram with the buy-and-sell format of eBay. They come to Depop for the clothes, but stay for the culture. In light of such risks, readers are cautioned not to place undue reliance on such forward-looking statements. Users can buy and sell clothing, accessories, and beauty products. It allows users to buy and sell items, most of which are used . This is a fluid generation defying categorisation in every sense, Levato says. Otherwise, all transactions made in the app are protected, so it should be safe to sell on Depop. Since Depop has attracted young people, you can expect a lot of clothing and other items to be approved by the millenials. We estimate that one in four 15-24-year old's in Australia are on Depop," says Aria Wigneswaran, Country Manager Australia, Depop.. "Monthly active users (MAU) of the Depop app in the United Kingdom (UK) from January 2018 to October 2021 (in millions)." Many sellers model the clothes they sell themselves. 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. And it doesn't look like there's a way to list items from a computer. ", 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. This extends to how these generations view life and society, but also fashion. Are you interested in testing our business solutions? They come to Depop for the clothes, but stay for the culture. The vintage items are also great since fashion often brings back past trends from time to time. The company is headquartered in London, with offices in Manchester, New York, Los Angeles and Sydney. The first difference is the market available. A sub for discussing all things Depop. <p>Depop is the community-powered fashion marketplace to buy and sell unique fashion, with over 30 million registered users in more than 150 countries. But let's talk about differences. Essentially, youll be able to get any item from the Depop store shipped to Europe, all for a crazy low price. [10] In June 2021, Etsy announced it would acquire Depop for $1.6 billion in cash, making it Etsy's most expensive acquisition, but that Depop would continue operate as a standalone brand independent from Etsy. Unlike Depop sellers, Vinted sellers don't pay any fees. Depop is a reliable website that allows you to buy and sell items. This presentation contains forward-looking statements within the meaning of the federal securities laws. The company will send a six-digit code that you can use to verify your account. People want the opportunity to buy and sell, but also they want this inspirational layer and entertainment through their experiences.. Overview. Depop is expected to be accretive to Etsy's top line growth rate and modestly dilutive to Etsy's adjusted EBITDA margin. The first difference is the market available. 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. Take up to four photos. Thrift stores, in the Poway area, are pretty cheap. 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. statistic alerts) please log in with your personal account. For sellers, we offer a range of tools and services that address key business needs. Deb Wasser Up to 140,000 new listings every day. VP of Investor Relations, Jessica Schmidt "Etsy acquires clothing resale platform Depop for $1.6 billion", "Gen Z Designers Made It Big on This App. Airnow. Depop is powered by young influencers like 20-year-old Moira Campos who is one of Depop's top sellers. While some users complained of poor customer service, Depop can help you make extra money online. Also, while Vinted focuses mainly on the European market, Depop is much more popular in the United States. Vinted also works as an intermediary between sellers and buyers, helping resolve issues. 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. You need a Statista Account for unlimited access. The content on dollarbreak.com is for informational and educational purposes only and cannot replace any professional financial advice. Discover unique fashion. We're a community that inspires and connects our users." In other words, Depop is basically Instagram, but with more transparency about the fact that it's selling you stuff. 16.6M+ items are available for sale on Depop.
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