What Is Depop? Everything You Need to Know About the Resale App 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. In 2021, Depop was acquired by Etsy for $1.6 billion. Depop and Paypal have been accused of collectively deceiving users into using their preferred private shipping partner, Evri, previously known as Hermes, a courier firm marred by allegations that its drivers mishandle parcels. To use individual functions (e.g., mark statistics as favourites, set You need a Statista Account for unlimited access. 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?. Test out different poses. 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. Get the item and o rate your experience with the seller. Email us at feedback@voguebusiness.com. Items are usually secondhand or homemade. 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. You then use this address for your deliveries, and theyll automatically forward them to your home country. Our primary marketplace, Etsy.com, is the global destination for unique and creative goods. Depop Careers and Employment | Indeed.com We disclaim any obligation to update forward-looking statements, except as required by law. Depop is headquartered in London, England and Los Angeles, California. However, it soon started to spread across other markets, eventually becoming a worldwide marketplace for second-hand clothing. Decluttr is an online app that allows you to sell your used media. Dont expect easy answers. Depop - buy, sell, discover unique fashion Shipping guide - Worldwide - Depop help GB [4] Its headquarters were moved to London in 2012. I always say we owe ourselves authenticity. When it comes to newness, this generation has a new lens through which they see new.. Depop allows its sellers to include rules buyers can see when scrolling through their posts. 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 legitimate app that allows sellers and buyers to trade their items hence not a scam. Pay for the item, tell the seller where to ship it, and pay for it. Profit from the additional features of your individual account. Access to this and all other statistics on 80,000 topics from, Show sources information It allows sellers to reach a broader audience thanks to its social features and emphasises a more professional approach when creating posts. 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. Sign up for free newsletters and get more CNBC delivered to your inbox. Decide your price. The benefit of this service is you can order from anywhere in the United States and get your items shipped to Europe. Deb Wasser Young people buy clothes online - level 3 - News in Levels i sold a pair of shoes on depop about ten days ago, and they were delivered on wednesday, 1/15/2021. 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. 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. Can I buy and sell on Poshmark if I'm not in the United States? Instead, the app uses an escrow service that holds the money in your Vinted wallet until the buyer gets and accepts the item. These companies provide addresses for this specific use case, and theyll even help ship your packages directly to you. When expanded it provides a list of search options that will switch the search inputs to match the current selection. The 35 Best Student Apps You Shouldn't Live Without - CareerAddict Vinted, for instance, is generally more focused on the transactional side. 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 email them at support@depop.com. At Etsy, we promise to treat your data with respect and will not share your information with any third party. $1 Billion made by the Depop community to date. Algeria. This means that you will need a U.S., Canada, Australia, India, or UK billing and shipping address, as well as a U.S., Canada, Australia, India, or UK internet provider (IP) address. 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. Etsy's mission is to keep commerce human, and we're committed to using the power of business to strengthen communities and empower people. <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. Forward-looking statements represent our beliefs and assumptions only as of the date of this press release. Vinted is more transactional. "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 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. 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. Sellers who live in countries where depop is not popular wouldn't be able to sell anything if they couldn't do it. Etsy to acquire global fashion resale marketplace Depop For Gen Z, the trend cycle continues to quicken, posing a challenge for fashion brand marketers seeking to connect with younger consumers. Who we are. The marketplaces will operate independently, while benefiting from shared expertise in areas such as product, marketing, technology, and customer support. Shares our two-sided marketplace business model: Depop is a peer-to-peer marketplace with similar capital-light operating model and financial characteristics. Depop is expected to be accretive to Etsy's top line growth rate and modestly dilutive to Etsy's adjusted EBITDA margin. Depop was founded in 2011 by entrepreneur Simon BeckermanDepop is a buy and sell app that allows you to sell items. Depop Summary. [5] Depop expanded and opened additional offices in Milan and New York City. Depop - Start Selling 6) The app must also have an express courier function, home collection/delivery, users can do everything without leaving home. Depop's GMS grew at a compounded annual growth rate of nearly 80% from 2017-2020. 2023 CNBC LLC. Depop was founded in 2011 and has over 26 million registered users in more than 150 countries. To download the Depop mobile app, go to Google Play and click download. You simply register an account with a Freight Forwarder, and theyll provide you with a U.S. based address. That way youll receive all of your items together instead of one at a time. Depop is the community-powered marketplace app where people exploring style and the latest trends come to shop and sell circular fashion. Shares of Etsy have more than doubled in the last 12 months thanks to an e-commerce boom resulting from the coronavirus pandemic. Depop is the marketplace where you can explore your style. As soon as this statistic is updated, you will immediately be notified via e-mail. Depop reselling is unethical, not because reselling is unethical in general, but because of how it's done. We estimate that one in four 15-24-year old's in Australia are on Depop," says Aria Wigneswaran, Country Manager Australia, Depop.. By providing your email address below, you are providing consent to Etsy to send you the requested Investor Email Alert updates. Paypal withholds those Depop users funds from any items sold for a minimum of 21 days from the date of sale[citation needed]. Which one is better, though? 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. 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. [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. ETSY. 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. Depop's beginnings were also relatively humble. Hadiyah Hussain is studying at Central Saint Martins in London alongside her Depop career. However, while the idea behind the two is similar, there are some key differences between Vinted and Depop. [6] Most active users of Depop are located in the United Kingdom, Australia, United States and Italy. As said, when selling at Vinted, a buyer covers all transaction-related fees, including shipping costs. 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. Overview. Its important to have cultural fluidity, she says. 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. Depop Revenue and Usage Statistics (2023) - Business of Apps [9], In 2020, Depop's gross merchandise sales and revenue both more than doubled to $650 million and $70 million respectively. 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. Depop is the community-powered fashion marketplace to buy and sell unique fashion, with over 30 million registered users in more than 150 countries. Over half of respondents said they buy secondhand to find one of a kind pieces, while 45 per cent use it to tap into trends. Are you interested in testing our business solutions? Founded in 2011, Depop has attracted mainly younger users thanks to its social media savvy. Then you can access your favorite statistics via the star in the header. Disclosure. If you are an admin, please authenticate by logging in again. Our community is made up of people who are creating a new fashion system by establishing new trends and making new from old. Conduct your own research and seek the advice of a licensed financial advisor. What are the Other Ways to Make Money on Depop? Barney Willis on LinkedIn: #etsy #depop #amazon #pinterest #fiver Depop has around 30 million users in over 150 countries, the majority of whom are young people. Chart. Get this delivered to your inbox, and more info about our products and services. How the Depop generation thinks | Vogue Business View original content:http://www.prnewswire.com/news-releases/etsy-to-acquire-global-fashion-resale-marketplace-depop-301303695.html. The number of app users in the United Kingdom went from. While some users complained of poor customer service, Depop can help you make extra money online. 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. We see significant opportunities for shared expertise and growth synergies across what will now be a tremendous 'house of brands' portfolio of individually distinct, and very special, ecommerce brands.". Commercial Credit Report for Etsy Inc - Report Preview Depop was founded in 2011 by entrepreneur Simon Beckerman at an Italian technological incubator and business H-Farm start-up centre. As in most cases, it depends. Poshmark is best known for women's fashion, trendy brands, and higher-end clothing and accessories. Register in seconds and access exclusive features. In, Airnow. Abigail Cooper - Seller - Depop | LinkedIn Get Potential buyers to make bids for the item and agree on the final price. While some users complained of poor customer service, Depop can help you make extra money online. Compare Depop alternatives for your business or organization using the curated list below. Our company was founded in 2005 and is headquartered in Brooklyn, New York. Today, Depop is a place where millions of users come to celebrate their style and discover culture. It was established in 2011 by Simon Bekerman and now has over 15 million . It's a bit more buyer-friendly, encouraging users to make quick transactions and enabling them that by intuitive and straightforward service. to incorporate the statistic into your presentation at any time. Social selling site Depop on why quantity is the key to quality Depop | LinkedIn Sure, both platforms offer similar services, but their approach is different. ", Rachel Glaser, Etsy's CFO, commented, "We've admired Depop for a while, and are excited to have now reached an agreement to purchase this fantastic business - a company we believe is still in the early innings of its growth opportunity. Depop Is the New Instagram but Not in a Good Way One user even commented that they were able to receive payments fast. Depop's 2020 gross merchandise sales (GMS) and revenue were approximately $650 million and $70 million, respectively, each increasing over 100% year-over-year. 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. 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. 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. 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.