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Depop's mission statement is "to change the way people buy, sell and think about fashion." Is Depop second hand? "Australia is Depop's third largest market. By Lisa Lacy. If you experience any issues with this process, please contact us for further assistance. Etsy is buying secondhand fashion app Depop for $1.62 billion in a deal primarily consisting of cash. Available on Android and iOS (free) Another great app for the starving student! But let's talk about differences. Now imagine if someone came through and bought a pair of pants for $12 . The platform's "Explore" page features items picked out by Depop staff. Essentially, youll be able to get any item from the Depop store shipped to Europe, all for a crazy low price. Send your buyer a message thanking them and letting them know when you plan to ship; Ship ASAP using tracked delivery. 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. 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. Vinted is more transactional. The company will send a six-digit code that you can use to verify your account. Accessed March 04, 2023. https://www.statista.com/statistics/1122928/depop-monthly-active-users-uk/, Airnow. And forget all about contacting their support. On paper, Depop and Vinted offer the exact same services, connecting second-hand clothing sellers with buyers. Are you interested in testing our business solutions? Vinted and Depop have different payment policies. The company has an expanding global presence being popularised in countries such as the United States, United Kingdom, Australia, New Zealand, and Italy. We disclaim any obligation to update forward-looking statements. 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. Our company was founded in 2005 and is headquartered in Brooklyn, New York. While creating a Depop account, your phone number will be required. 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. A Division of NBCUniversal. Here are some vital facts and figures about how Depop works today. Depop is a peer-to-peer social e-commerce company based in London, with additional offices in Manchester, Milan and New York City. 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. don't give up! Instead, the app uses an escrow service that holds the money in your Vinted wallet until the buyer gets and accepts the item. What distinguishes Depop from Vinted is its emphasis on social features, working as a social network app in addition to being a reselling marketplace. eBay is one of the most popular platforms that allows you to buy and sell goods and services like electronics, clothing, and more. Monthly active users (MAU) of the Depop app in the United Kingdom (UK) from January 2018 to October 2021 (in millions) [Graph]. As a Premium user you get access to the detailed source references and background information about this statistic. Which one is better, though? "To some degree, we have a closer relationship with Gen Z . The only pricey item I've found is a pantsuit that cost around $20. Etsy, Inc. operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world. Founded in 2011, Depop has attracted mainly younger users thanks to its social media savvy. 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 ETSY. With roughly 30 million registered users across nearly 150 countries,. About Depop Our leadership Facts and figures. With 4 million active buyers and 2 million . 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. Access to this and all other statistics on 80,000 topics from, Show sources information [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. Depop is designed for sellers who want to sell items such as clothing, shoes, clothes, vintage clothes and items, and cheap streetwear. Press question mark to learn the rest of the keyboard shortcuts. Like Depop, Swappa pays via PayPal. Weve been a long time customer of MyUS, and weve never had any issues with their service. 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. Place your item in a box or shipping envelope, available at office supply stores or the post office. [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. [6] Beckerman raised 1 million in funding in October 2013 from Red Circle Investment and brought on Faroese Runar Reistrup as new CEO. 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. Currently, you are using a shared account. Bank of America reveals the winning market share gainers with more room to run, Goldman Sachs upgrades this internet of things stock which it sees surging 60%, JPMorgan upgrades Procter & Gamble, says consumer staples stock could be an earnings compounder. Depop should know. Why do we think MyUS is the best? Forward-looking statements include all statements that are not historical fact. Enter your username, password, and country, Connect your Depop account to your PayPal address, No limit to to the type of products you can sell, 2 days to ship the item after getting paid, High user traffic over 187 million users, Promote your listing from as little as 1%. (November 8, 2021). That said, you can expect to ship your items at lower prices when using Vinted. And then I still do a few [dance] teaching jobs and dance performance jobs on the side. 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 will remain headquartered in London, Etsy said, operating as a standalone business run by current management. It is largely targeted at Gen Z shoppers . You simply register an account with a Freight Forwarder, and theyll provide you with a U.S. based address. In, Airnow. Our primary marketplace, Etsy.com, is the global destination for unique and creative goods. [9], In 2020, Depop's gross merchandise sales and revenue both more than doubled to $650 million and $70 million respectively. 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. It also gives the online marketplace a bigger footprint in fashion resale. Depop allows its sellers to include rules buyers can see when scrolling through their posts. 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. Then you can access your favorite statistics via the star in the header. Also, as a Depop seller, you're responsible for contacting a buyer when something's wrong with the order. We're a community that inspires and connects our users." 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. LocationsView all. It's also recommended to refresh and bump your listings for them to stay at the top of the search. 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. 4 locations detected. [16] Celebrities have resold their own items on Depop, with some donating proceeds to charitable causes. A sub for discussing all things Depop. 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 . Depop is a peer-to-peer social shopping app. Depop is a legitimate app that lets sellers sell items and buyers buy items; hence not a scam. OpenAI explain why some countries are excluded from ChatGPT Download PDF. i sold a pair of shoes on depop about ten days ago, and they were delivered on wednesday, 1/15/2021. Depop is the community-powered marketplace app where people exploring style and the latest trends come to shop and sell circular fashion. OLIO. Depop is a place for anyone to discover and . 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. It was established in 2011 by Simon Bekerman and now has over 15 million . It is one of the few success stories of the dot-com bubble, which . In the post-pandemic era, music and entertainment experiences that go beyond buying and selling will be much-needed by Gen Z, he says. Since Depop works more like a social network platform, it allows sellers to reach more users with their listings. 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. An overwhelming 90 per cent of its active users are under the age of 25. Unfortunately, some users complained that the platform would hold your money for a long time before closing your accounts. It's nothing else than a standard return policy where buyers can return items that might be damaged, missing, or cancelled. Depop seller Adwoa Owusu-Darko has run her brand Mini's World (@minisworld) since 2016. The only thing that I would change are the "plus . 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 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 a social shopping app that has been described as a mix of eBay and Instagram. Overview. 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. 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. As covered, Vinted connects 21 million users worldwide, operating in 15 countries. A copy of the presentation that will be covered on the conference call will also be posted to our website. [8][bettersourceneeded], In June 2019, Depop raised $62 million in Series C from General Atlantic to fund its expansion. Depop payments are transferred directly to your PayPal account, and no intermediary is involved in handling transactions. Profit from the additional features of your individual account. Depop was founded in 2011 by entrepreneur Simon Beckerman at an Italian technological incubator and business H-Farm start-up centre. The Depop social shopping app blends the aesthetic and social aspects of Instagram with the buy-and-sell format of eBay. my buyer. Depop proudly states that 90 percent of its active users are under 26. Depop. 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. Etsy expects to finalize the deal by the third quarter of 2021. Type Subsidiary . Depop is headquartered in London, England and Los Angeles, California. <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. 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. 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 app has over 10 million users and is available in over 100 countries. 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. You can then. As a mobile app, it is available on iOS and Android platforms. These risks and uncertainties include: (1) the level of demand for our services or products sold in our marketplaces and our ability to support our recent growth; (2) the importance to our success of the trustworthiness of our marketplaces and our ability to attract and retain active and engaged communities of buyers and sellers; (3) risks related to the COVID-19 pandemic; (4) the fluctuation of our quarterly operating results; (5) our failure to meet our publicly announced guidance or other expectations; (6) if we or our third-party providers are unable to protect against technology vulnerabilities, service interruptions, security breaches, or other cyber incidents; (7) our dependence on continued and unimpeded access to third-party services, platforms, and infrastructure; (8) macroeconomic events that are outside of our control; (9) operational and compliance risks related to our payments systems; (10) our ability to recruit and retain employees; (11) our ability to compete effectively; (12) our ability to enhance our current offerings and develop new offerings to respond to the changing needs of sellers and buyers; (13) our ability to demonstrate progress against our environmental, social, and governance Impact strategy; (14) our efforts to expand internationally; (15) our ability to successfully integrate and receive the expected benefits from the Depop and Elo7 acquisitions; (16) acquisitions that may prove unsuccessful or divert management attention; (17) regulation in the area of privacy and protection of user data; and (18) litigation and regulatory matters, including intellectual property claims. However, while both apps provide practically the same services, they differ in a few key areas. Ship. Please read rules before posting. 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. 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. It caters to a variety of different fashion pieces such as designer, vintage, and streetwear. 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. Once you make a sale, Depop will send the money to the PayPal account that youve already linked to your account. Then I sent them this. The company was founded in 2011 and is headquartered in London . Depop is a reliable website that allows you to buy and sell items. You need a Statista Account for unlimited access. 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. However, it soon started to spread across other markets, eventually becoming a worldwide marketplace for second-hand clothing. Get this delivered to your inbox, and more info about our products and services. You can also move the money to your bank account once its transferred to PayPal. Users can buy and sell clothing, accessories, and beauty products. 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 mission of my brand is to represent the underrepresented, says Depop seller Tom Evans (@areaeighteen). Unfortunately, Depop doesnt ship directly to Europe. To minimize the likelihood of being scammed, you should only make a transaction through the app and not offline or off the platform. In the 2000's, eBay went on a spending spree that saw it taking ownership of PayPal, Skype and Stubhub, although it has since relinquished ownership of all three businesses. Many sellers model the clothes they sell themselves. What are the Other Ways to Make Money on Depop? Adwoa Owusu-Darko (@minisworld) even runs a mentorship business, teaching others how to mirror her Depop success. 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. 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. Depop is the community-powered fashion marketplace to buy and sell unique fashion, with over 30 million registered users in more than 150 countries. We're excited to build a 'house of brands' where the whole is greater than the sum of its parts.". 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. Founded in the U.K. in 2011, Depop lets people buy and sell used clothes through. Get the item and o rate your experience with the seller. 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. [15] Depop users are also encouraged by the platform to use other social networking services such as Instagram to promote their shop profiles. These are called 'Shop Policies,' stating whether you accept returns as a seller. Alternatives to Depop. Simon Beckerman and Maria Raga are the co-founders and current owners of Depop. 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. The marketplaces will operate independently, while benefiting from shared expertise in areas such as product, marketing, technology, and customer support. [5] Depop expanded and opened additional offices in Milan and New York City. "Monthly active users (MAU) of the Depop app in the United Kingdom (UK) from January 2018 to October 2021 (in millions)." Available everywhere. E-commerce firm Etsy announced Wednesday that it is buying the secondhand fashion app Depop for $1.62 billion. [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. I agree to receive your newsletter. To use individual functions (e.g., mark statistics as favourites, set The company has an expanding global presence being popularised in countries such as the United States, United Kingdom, Australia, New Zealand, and Italy. You can also save money on shipping by using Packlink to compare couriers and find the most cost-efficient solution. Find what you are looking for, negotiate with the seller through the apps inbuilt messenger. Please create an employee account to be able to mark statistics as favorites. When you click on 23-year-old Lyuu's Depop shop, you'll see a collection of pink, black, red and white gothic and vintage clothing from a designer Dior bag that costs nearly two grand to an . hi! It allows sellers to reach a broader audience thanks to its social features and emphasises a more professional approach when creating posts. trend cycle continues to quicken, posing a challenge for fashion brand marketers seeking to connect with younger consumers. Sign up for free newsletters and get more CNBC delivered to your inbox. Retailers and brands might consider how they can inspire Gen Z to be entrepreneurs. Etsy CEO on how $1.6 billion deal for Depop could help the company grow. To make sure everything arrives in one clean piece, pack your items well; Keep your buyer informed. Last month [object Object] was the top country sending desktop traffic to depop.com - click below to discover all countries Top Countries United States 49.04% 1.30% United Kingdom 24.80% 4.06% Australia 8.56% 15.40% Canada 2.74% 0.35% Italy 1.27% 13.93% Others 13.60% See all countries depop.com Audience Demographics 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. I am currently studying towards my MA in Strategic Fashion Marketing at the University of the Arts London: London College of Fashion. Depop reselling is unethical, not because reselling is unethical in general, but because of how it's done. You then use this address for your deliveries, and theyll automatically forward them to your home country. 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. [5] In 2015, Depop secured another investment of $8 million from Balderton Capital and Holtzbrinck Ventures. Airnow. 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 | Buy & Sell Clothing on the App Store This app is available only on the App Store for iPhone. Only limited information is available about the algorithms and modelling behind ChatGPT, which makes it difficult . The site . Well positioned to benefit from Etsy's expertise to accelerate growth and value creation: Depop is an early-stage business that we believe can leverage our proven value creation roadmap to drive further growth and profitability. 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. 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. Forward-looking statements involve substantial risks and uncertainties that may cause actual results to differ materially from those we expect. Essentially, you'll be able to get any item from the Depop store shipped to Europe, all for a crazy low price. How to Deliver Items from the Depop Online Store to Europe Like Depop, eBay charges a commission of 10% on all the items sold. One user even commented that they were able to receive payments fast. ", 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. Unlike Depop sellers, Vinted sellers don't pay any fees. Depop users who opt for using Royal Mail are penalised by being forced to pay Depop sales fees out of pocket and wait up to one month to receive their earnings. r/Depop W for me today after 10 incompetent depop support representatives finally got someone to review my account suspension. If you are an admin, please authenticate by logging in again. Get full access to all features within our Business Solutions. Take a picture of the item, describe it, set a price for it, and post. Depop is the community-powered marketplace app where people exploring style and the latest trends come to shop and sell circular fashion. While some users complained of poor customer service, Depop can help you make extra money online. To answer that, we must take a closer look at the two. by Jerret West, CVP Gaming Marketing, Xbox Feb 28, 2023 @ 12:01am. Depop | Buy & Sell Clothing 12+ Resale Marketplace for Clothes Depop Ltd #60 in Shopping 4.8 399.1K Ratings Free iPhone Screenshots Buy. Conduct your own research and seek the advice of a licensed financial advisor. 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. Depop also pays via PayPal compared to Decluttr, which uses Direct deposit, PayPal, and Check. Business Summary. As a Premium user you get access to background information and details about the release of this statistic. Email us at feedback@voguebusiness.com. The buyer pays shipping costs and a small buyer protection fee when buying via Vinted. 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. Depop significantly grows Etsy's GMS in the apparel sector, which was ~$1 billion in 2020. 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. VP of Investor Relations, Jessica Schmidt The freight forwarder accepts the package on your behalf. New risks emerge from time to time. Algeria. Phone: (718) 880-3660. p:718 880-3660. 12.9% of the sale price or lower, plus $0.30 per order. The default refresh interval is a random number between 1 and 3 seconds. Forward-looking statements represent our beliefs and assumptions only as of the date of this press release. It allows users to buy and sell items, most of which are used . To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. The Company operates through four segments: Etsy, Reverb, Depop, and Elo7. However, we have a pretty simple solution that gets around this restriction. Depop is the community-powered marketplace app where people exploring style and the latest trends come to shop and sell circular fashion. Bahrain. Its not so long ago that many people wouldnt have thought of themselves as potential resellers, he says. The app is also meant for buyers looking for items they can buy. Get paid fast when your item sells. Depop's 2020 gross merchandise sales (GMS) and revenue were approximately $650 million and $70 million, respectively, each increasing over 100% year-over-year.