Depop's GMS grew at a compounded annual growth rate of nearly 80% from 2017-2020. 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. Launched in Lithuania in 2008, Vinted quickly expanded to 10 more countries, becoming an instant success among clothes reselling apps. Forward-looking statements represent our beliefs and assumptions only as of the date of this press release. Now imagine if someone came through and bought a pair of pants for $12 . Depop has around 30 million users in over 150 countries, the majority of whom are young people. 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?. 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. Discover unique fashion. Profit from the additional features of your individual account. Thrift stores, in the Poway area, are pretty cheap. Show publisher information The Depop plan sets out a series of targets to hit by the end of 2021. 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. They come to Depop for the clothes, but stay for the culture. That leads us to the question, which of these two reselling platforms is better? Business Summary. Depop is powered by a team of around 400 people, dedicated to our mission of fashion for a better future. ETSY. It is one of the few success stories of the dot-com bubble, which . Swappa is a peer-to-peer marketplace that allows you to sell and buy used electronics. 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. You can then. As you can see, while looking practically identical at first glance, Depop and Vinted are two sides of the same coin. <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. Please read rules before posting. 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. Got a confidential news tip? . To some degree, we have a closer relationship with Gen Z than almost any other institution in the world at scale, says Depop chief brand officer Peter Semple. Unfortunately, yes. 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. uniexpressgt.com participates in various affiliate programs, and we sometimes get a commission through purchases made through our links. It also gives the online marketplace a bigger footprint in fashion resale. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Monthly active users (MAU) of the Depop app in the United Kingdom (UK) from January 2018 to October 2021 (in millions) [Graph]. Founded in the U.K. in 2011, Depop lets people buy and sell used clothes through. Depop is the community-powered fashion marketplace to buy and sell unique fashion, with over 30 million registered users in more than 150 countries. [9], In 2020, Depop's gross merchandise sales and revenue both more than doubled to $650 million and $70 million respectively. 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. Depop was founded in 2011 by entrepreneur Simon BeckermanDepop is a buy and sell app that allows you to sell items. E-commerce firm Etsy announced Wednesday that it is buying the secondhand fashion app Depop for $1.62 billion. 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. Growing up in a hyper-connected world, Gen Z is more vulnerable to macro level uncertainties, the report finds. 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%. We want to hear from you. Phone: (718) 880-3660. p:718 880-3660. 147. With 4 million active buyers and 2 million . As covered, Vinted connects 21 million users worldwide, operating in 15 countries. Send your buyer a message thanking them and letting them know when you plan to ship; Ship ASAP using tracked delivery. You have successfully joined our subscriber list. Depop is a peer-to-peer social shopping app. The app is currently available only in European countries, but it's expected to soon be available in the US too. All Rights Reserved. I am currently studying towards my MA in Strategic Fashion Marketing at the University of the Arts London: London College of Fashion. Phones,laptops,wearables,Tablets,video games, Electronic, fashion,health, and beauty products, No limit to the type of products you can sell. 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. 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. Depop proudly states that 90 percent of its active users are under 26. She has about 40,000 followers, and selling clothes online has become a full-time job for her. ThredUP currently ships to the United States and Canada, with no current plans to expand to additional countries at this time. 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. In March 2016, former CEO, Runar Reistrup, stated that Depop's growth was achieved through word of mouth. Buyers come to Etsy to be inspired and delighted by items that are crafted and curated by creative entrepreneurs. 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. The company has an expanding global presence being popularised in countries such as the United States, United Kingdom, Australia, New Zealand, and Italy. Today, Depop is a place where millions of users come to celebrate their style and discover culture. It allows sellers to reach a broader audience thanks to its social features and emphasises a more professional approach when creating posts. 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. To receive packages from the United States, youre going to need to have an address based there. By providing your email address below, you are providing consent to Etsy to send you the requested Investor Email Alert updates. However, it soon started to spread across other markets, eventually becoming a worldwide marketplace for second-hand clothing. From crypto to clothes: Why Gen Z are investors now, From Essentials to Adidas: Whats next for Fear of God. [5] Depop expanded and opened additional offices in Milan and New York City. In, Airnow. 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. 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. It must've been cuz I mentioned the BBB. The Depop social shopping app blends the aesthetic and social aspects of Instagram with the buy-and-sell format of eBay. 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. For sellers, we offer a range of tools and services that address key business needs. Does the Depop online store ship items overseas to Europe? Weve talked about fluidity as much more than gender for some time at Depop, says chief brand officer Peter Semple. If you are an admin, please authenticate by logging in again. [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. Depop is a social shopping app that has been described as a mix of eBay and Instagram. While both websites are free, Swappa requires you to pay a small 3% fee once your item sells compared to Depop, which charges 10%. It is largely targeted at Gen Z shoppers 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. It does come with fees and higher shipping costs. To make sure everything arrives in one clean piece, pack your items well; Keep your buyer informed. Its important to have cultural fluidity, she says. my buyer. eBay allows you to edit and crop your photos compared to Depop, which lacks that functionality. Dont expect easy answers. As Depop, which has 219 employees, struggles to police millions of users across multiple continents, the start-up is reckoning with dangers facing its young users that have plagued the internet since the early 1990s. More so, what you earn on Swappa depends on the item you are selling and its condition. [6] Most active users of Depop are located in the United Kingdom, Australia, United States and Italy. You can also email them at support@depop.com. Depop | Buy & Sell Clothing 12+ Resale Marketplace for Clothes Depop Ltd #60 in Shopping 4.8 399.1K Ratings Free iPhone Screenshots Buy. The benefit of this service is you can order from anywhere in the United States and get your items shipped to Europe. How to Deliver Items from the Depop Online Store to Europe Etsy's mission is to keep commerce human, and we're committed to using the power of business to strengthen communities and empower people. BROOKLYN, NY 11201 United States. The default refresh interval is a random number between 1 and 3 seconds. One user even commented that they were able to receive payments fast. Depop is the community-powered fashion marketplace to buy and sell unique fashion, with over 30 million registered users in more than 150 countries. Fluidity extends beyond gender identity. Depop - buy, sell, discover unique fashion Log in Menswear Womenswear Jewellery Beauty More Brands Top searches Find your style Shop the biggest brands you know and love. LocationsView all. This type of service is called Freight Forwarding. Depop is a website and mobile app available in over 150 countries with over 26 million active users. On the other hand, Depop sellers can absorb the postage cost by hiding it in the item's price as free shipping. Then I sent them this. [17], As of 2021, Depop has over 21 million users, 90 percent of whom are under the age of 26. Shares our two-sided marketplace business model: Depop is a peer-to-peer marketplace with similar capital-light operating model and financial characteristics. The brand registered unprecedented growth in May and July 2020, with. Its report, released this Monday, unpacks Gen Zs collective behaviours in a pandemic world and beyond. You can change the interval in the system settings. Others also described the platform as an easy-to-use selling platform. June 2, 2021. Comments, questions or feedback? It caters to a variety of different fashion pieces such as designer, vintage, and streetwear. Otherwise, all transactions made in the app are protected, so it should be safe to sell on Depop. Unfortunately, some users complained that the platform would hold your money for a long time before closing your accounts. 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. The company was founded in 2011 and is headquartered in London . Depop reports having over 30 million registered users in over 150 countries. Depop | Buy & Sell Clothing on the App Store This app is available only on the App Store for iPhone. The site . As covered, Vinted connects 21 million users worldwide, operating in 15 countries. 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. Our primary marketplace, Etsy.com, is the global destination for unique and creative goods. The Company operates through four segments: Etsy, Reverb, Depop, and Elo7. Swappa also focuses on used electronics compared to Depop, which deals in clothing, shoes, and other streetwear. Also, as a Depop seller, you're responsible for contacting a buyer when something's wrong with the order. Depop is a peer-to-peer social e-commerce company based in London, with additional offices in Manchester, Milan and New York City. 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. Create an account to follow your favorite communities and start taking part in conversations. Depop is a legitimate app that lets sellers sell items and buyers buy items; hence not a scam. 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 . However, these can be dealt with by using Packlink to find the cheapest parcel delivery service. ", 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. If you think about selling your old clothes online, two reselling apps immediately spring to mind - Vinted and Depop.