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The Company's primary marketplace, Etsy . [7] Depop was the official app sponsor of the 2016 Vans Warped Tour. Forward-looking statements represent our beliefs and assumptions only as of the date of this press release. In 2020, Depops gross merchandise sales and revenue increased to $650 million and $70 million, respectively. You simply register an account with a Freight Forwarder, and theyll provide you with a U.S. based address. 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. Thrift stores, in the Poway area, are pretty cheap. [13], Most of the items sold on Depop are used, vintage, and repurposed pieces of clothing. BROOKLYN, NY 11201 United States. ", 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.". 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. 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 is a peer-to-peer social e-commerce company based in London, with additional offices in Manchester, Milan and New York City. These companies provide addresses for this specific use case, and theyll even help ship your packages directly to you. Depop is the community-powered marketplace app where people exploring style and the latest trends come to shop and sell circular fashion. however, despite it being 3-4 days since delivery (on the transaction info it actually says i should have gotten the money within 1 day of delivery), it still says my payment is on hold. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. . 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 such risks, readers are cautioned not to place undue reliance on such forward-looking statements. 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. Decluttr is an online app that allows you to sell your used media. [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. <br><br>In the year between finishing my undergraduate degree and beginning my postgraduate studies, I completed as many contract internship . If you have several packages, MyUS can bundle the packages into one order. Depop is all about community - it's the buyers and sellers who use Depop who make it such a great place. Discover unique fashion. 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. If you think about selling your old clothes online, two reselling apps immediately spring to mind - Vinted and Depop. don't give up! For sellers, we offer a range of tools and services that address key business needs. Selling on Depop and Vinted looks pretty similar, requiring sellers to engage in increasing sales. Depop is a reliable website that allows you to buy and sell items. It incorporates fewer categories and focuses more on a buyer experience, allowing users to make offers faster. The number of app users in the United Kingdom went from. With a website and apps available on both iOS and Android, Depop promises to be an online shopping. 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. Vintage, streetwear, one-of-a-kind, Y2K are the biggest styles on Depop. But let's talk about differences. Phones,laptops,wearables,Tablets,video games, Electronic, fashion,health, and beauty products, No limit to the type of products you can sell. Business Summary. Etsy's mission is to keep commerce human, and we're committed to using the power of business to strengthen communities and empower people. 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. Sellers who live in countries where depop is not popular wouldn't be able to sell anything if they couldn't do it. It's nothing else than a standard return policy where buyers can return items that might be damaged, missing, or cancelled. Depop was founded in 2011 by entrepreneur Simon BeckermanDepop is a buy and sell app that allows you to sell items. This presentation contains forward-looking statements within the meaning of the federal securities laws. Decide your price. ", 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. 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. 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 Company summary. Depop should know. Learn more about how Statista can support your business. 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. It's also recommended to refresh and bump your listings for them to stay at the top of the search. Get the item and o rate your experience with the seller. The Depop study echoes this point, with respondents underlining fluid identity when buying and selling clothes. Unfortunately, Depop doesn't ship directly to Europe. You have successfully joined our subscriber list. Both apps also target slightly different audiences. Available on Android and iOS (free) Another great app for the starving student! 4 locations detected. Please read rules before posting. The platform only keeps your data as long as it needs it and encourages you not to share your personal information, like your phone number, address, or email address. Depop was founded in 2011 and has over 26 million registered users in more than 150 countries. In, Airnow. [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. 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. 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. 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. If you experience any issues with this process, please contact us for further assistance. 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. 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. ", She added: "Our community is made up of people who are creating a new fashion system by establishing new trends and making new from old. All Rights Reserved. Have to complete the purchase to update your shipping address - Depop Over 3 million products sold in 12 months with a year limited warranty, Sell smartphones, tablets, laptops books, watches, video games and Lego, Get a free instant item valuation, ship your item for free and get paid, No fees for sellers buyers pay no fees up $50 items. An overwhelming 90 per cent of its active users are under the age of 25. It allows users to buy and sell items, most of which are used . 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. Depop is a peer-to-peer social shopping app. Its not so long ago that many people wouldnt have thought of themselves as potential resellers, he says. "Australia is Depop's third largest market. Previous investors HV Holtzbrinck Ventures, Balderton Capital, Creandum, Octopus Ventures, TempoCap and Sebastian Siemiatkowski also participated. uniexpressgt.com participates in various affiliate programs, and we sometimes get a commission through purchases made through our links. By Lisa Lacy. The app has over 10 million users and is available in over 100 countries. Get paid fast when your item sells. Ship. Vinted, for instance, is generally more focused on the transactional side. Depop does not offer other ways to make money apart from selling items such as clothes, shoes, and other items. . [Online]. 147. Goldman Sachs & Co. LLC served as exclusive financial advisor to Etsy, Deloitte as due diligence advisors, and Fenwick & West LLP and Allen & Overy LLP served as Etsy's legal advisors. The mission of my brand is to represent the underrepresented, says Depop seller Tom Evans (@areaeighteen). Users can buy and sell clothing, accessories, and beauty products. 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. To receive packages from the United States, youre going to need to have an address based there. From crypto to clothes: Why Gen Z are investors now, From Essentials to Adidas: Whats next for Fear of God. "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. Etsy has sufficient available liquidity to fund the acquisition. Depop is headquartered in London, England and Los Angeles, California. Depop is the community-powered fashion marketplace to buy and sell unique fashion, with over 30 million registered users in more than 150 countries. The Depop social shopping app blends the aesthetic and social aspects of Instagram with the buy-and-sell format of eBay. In November 2019, Business of Fashion reported that users within the Depop app were receiving sexually suggestive messages.[23]. Depop's 2020 gross merchandise sales (GMS) and revenue were approximately $650 million and $70 million, respectively, each increasing over 100% year-over-year. You need a Statista Account for unlimited access. Depop's 2020 gross merchandise sales (GMS) and revenue were approximately $650 million and $70 million, respectively, each increasing over 100% year-over-year. Items are usually secondhand or homemade. People want the opportunity to buy and sell, but also they want this inspirational layer and entertainment through their experiences.. New risks emerge from time to time. To minimize the likelihood of being scammed, you should only make a transaction through the app and not offline or off the platform. Following the close of this transaction, Etsy Inc. will operate three highly differentiated, non-commoditized and loved ecommerce brands: Etsy, Reverb, and Depop. As in most cases, it depends. Expands our TAM in a large and fast-growing market, Well positioned to benefit from Etsy's expertise to, http://www.prnewswire.com/news-releases/etsy-to-acquire-global-fashion-resale-marketplace-depop-301303695.html. Subscribe to receive weekly Side Hustle recommendations. 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. To minimize the likelihood of being scammed, you should only make a transaction through the app and not offline or off the platform. Depop was founded in 2011 by entrepreneur Simon BeckermanDepop is a buy and sell app that allows you to sell items. As a mobile app, it is available on iOS and Android platforms. It also gives the online marketplace a bigger footprint in fashion resale. The company, founded by Simon Beckerman in 2011, is headquartered in London, with offices in Manchester, New York, Los Angeles and Sydney, with approximately 400 employees dedicated to its mission of building the world's most diverse progressive home of fashion, that's kinder on the planet and kinder to people. It's a bit more buyer-friendly, encouraging users to make quick transactions and enabling them that by intuitive and straightforward service. Vinted also works as an intermediary between sellers and buyers, helping resolve issues. 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?. 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. Forward-looking statements represent our beliefs and assumptions only as of the date hereof. Unfortunately, Depop doesnt ship directly to Europe. Depop payments are transferred directly to your PayPal account, and no intermediary is involved in handling transactions. Are you interested in testing our business solutions? When expanded it provides a list of search options that will switch the search inputs to match the current selection. In March 2016, former CEO, Runar Reistrup, stated that Depop's growth was achieved through word of mouth. Sure, both platforms offer similar services, but their approach is different. It was established in 2011 by Simon Bekerman and now has over 15 million . Also, as a Depop seller, you're responsible for contacting a buyer when something's wrong with the order. Dont worry, youre not going to need to splash out on a property, there is a much cheaper solution. Online marketplace Etsy announced . 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. 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. In the post-pandemic era, music and entertainment experiences that go beyond buying and selling will be much-needed by Gen Z, he says. Depop is a peer-to-peer social shopping app based in London that first launched in 2011. Depop | Buy & Sell Clothing 12+ Resale Marketplace for Clothes Depop Ltd #60 in Shopping 4.8 399.1K Ratings Free iPhone Screenshots Buy. E-commerce firm Etsy announced Wednesday that it is buying the secondhand fashion app Depop for $1.62 billion. Poshmark is best known for women's fashion, trendy brands, and higher-end clothing and accessories. Depop is not available in some countries from summer (I cant remember exact month when this happened). 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. Register in seconds and access exclusive features. Essentially, you'll be able to get any item from the Depop store shipped to Europe, all for a crazy low price. However, it soon started to spread across other markets, eventually becoming a worldwide marketplace for second-hand clothing. While both websites are free, Swappa requires you to pay a small 3% fee once your item sells compared to Depop, which charges 10%. Test out different poses. Secondhand may be sustainable but its also cool. Depop is a popular second-hand fashion marketplace app with a global community of buyers and sellers. [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. Available: https://www.statista.com/statistics/1122928/depop-monthly-active-users-uk/, Monthly active users (MAU) of the Depop app in the United Kingdom (UK) from January 2018 to October 2021, Available to download in PNG, PDF, XLS format, E-commerce revenue worldwide 2017-2027, by segment, Global fashion e-commerce market size 2021-2025, Worldwide online fashion retail revenue 2021-2025, by segment, Online fashion retail revenue change worldwide 2019-2025, by segment, Fashion e-commerce users worldwide 2021-2025, by segment, Online fashion retail revenue worldwide 2019-2025, by region, Online fashion retail revenue worldwide 2022, by country, Fashion e-commerce revenue in Asia 2021-2025, Fashion e-commerce revenue in North America 2021-2025, Fashion e-commerce revenue in Europe 2021-2025, Fashion retail sales channel share worldwide 2022, by region, Fashion: top 5 online stores worldwide in 2021, by net sales, CAGR of leading fashion e-commerce companies worldwide 2020-2022, nike.com: E-Commerce net sales from 2014 to 2022, zara.com: E-Commerce net sales from 2014 to 2022, asos.com: E-Commerce net sales from 2014 to 2022, zalando.de: E-Commerce net sales from 2014 to 2022, Leading fashion and apparel websites worldwide 2022, based on visit share, International site traffic on top fashion websites in select countries worldwide 2021, Increase of site traffic on top fashion websites in select countries 2021, Global online fashion shopping cart abandonment rate 2021, by type, EU consumers who use mobile apps for online shopping purposes 2021, E-commerce penetration rate among active Gen Z users China in 2020, by platform, Global consumers reasons for not liking online shopping 2021, Fashion purchases of consumers in 2020 and 2023, by channel, Usage of online reviews to help with fashion purchases 2021, by country, Share of shoppers buying clothes online after store visit in Europe 2021, by country, Monthly active users of VSCO in the UK 2017-2020, Monthly active users of Reddit in the UK 2017-2020, Location of purchase of second-hand shoes/footwear in the UK 2019, Facebook Messenger: number of monthly active users 2014-2017, Types of clothing items purchased second-hand in the UK 2019, Share of MAU on the smartphone and tablet market in Japan 2018, by brand, Forecast of the smartphone user penetration rate in Estonia 2015-2022, Forecast of smartphone user numbers in Slovenia 2015-2022, Forecast of smartphone user numbers in Denmark 2018-2025, Growth in the fashion market value in Russia 2012-2017, Forecast of the smartphone user penetration rate in Switzerland 2018-2024, Forecast of the smartphone user penetration rate in Lithuania 2015-2022, Forecast of the smartphone user penetration rate in the Czech Republic 2015-2022, Forecast of smartphone user numbers in Slovakia 2015-2022, Forecast of smartphone user numbers in the Czech Republic 2015-2022, Woven fashion import volume to Japan 2015-2020, Share of fashion import volume to Japan 2021, by region, Depop app downloads per month worldwide 2020-2022, Knitted fashion import volume to Japan 2015-2021, Monthly active users (MAU) of the Depop app in the United Kingdom (UK) from January 2018 to October 2021 (in millions), Find your information in our database containing over 20,000 reports. The app is also meant for buyers looking for items they can buy. Sign up to our newsletter for a truly global perspective on the fashion industry. - 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 Many sellers model the clothes they sell themselves. Monthly active users (MAU) of the Depop app in the United Kingdom (UK) from January 2018 to October 2021 (in millions) [Graph]. Depop also requires sellers to make their offers look more professional, which is why it's better suited for small businesses. They come to Depop for the clothes, but stay for the culture. I agree to receive your newsletter. The app is currently available only in European countries, but it's expected to soon be available in the US too. so i am from Algeria and i started selling on depop from 2017 but recently some friends wanted to open a depop account they couldn't because the don't receive the confirmation using phone number and i looked for the app on play store and it doesn't show Depop is expected to be accretive to Etsy's top line growth rate and modestly dilutive to Etsy's adjusted EBITDA margin. (November 8, 2021). Depop was founded in 2011 by entrepreneur Simon Beckerman at an Italian technological incubator and business H-Farm start-up centre. Growing up in a hyper-connected world, Gen Z is more vulnerable to macro level uncertainties, the report finds. The first difference is the market available. If you look around online, youll find a bunch of companies in the U.S. offering physical United States addresses to customers located overseas. Why do we think MyUS is the best? If y'all remember I posted how I got banned for hashtags that were FINE. 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 is powered by young influencers like 20-year-old Moira Campos who is one of Depop's top sellers. Contact Data CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For . Since Depop works more like a social network platform, it allows sellers to reach more users with their listings. Depop is a peer-to-peer social e-commerce company based in London, with additional offices in Manchester, Milan and New York City.