Please see our privacy policy for more information. The number of app users in the United Kingdom went from. The app has over 10 million users and is available in over 100 countries. Take up to four photos. Its a fairly common question we often see asked, and the answer isnt all that clear. This press release (including statements quoted in this press release) contains forward-looking statements within the meaning of the federal securities laws. Comments, questions or feedback? Thats now the slogan of the brand I work with a lot of queer people, its just kind of asking them how they want to show up in the world. DollarBreak is reader-supported, when you sign up through links on this post, we may receive compensation. eBay is one of the most popular platforms that allows you to buy and sell goods and services like electronics, clothing, and more. In light of such risks, readers are cautioned not to place undue reliance on such forward-looking statements. For Semple, physical events remain hugely relevant. "To some degree, we have a closer relationship with Gen Z . The network currently has more than 15 million users in 147 countries, skewed heavily towards those aged under 26, with plans to expand across Europe and Asia. 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. 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. 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? Depop is a peer-to-peer social shopping app. The company has attracted a predominantly younger audience thanks to its social media savvy and messaging on environmental and ethical shopping. It's nothing else than a standard return policy where buyers can return items that might be damaged, missing, or cancelled. Sellers who live in countries where depop is not popular wouldn't be able to sell anything if they couldn't do it. However, it soon started to spread across other markets, eventually becoming a worldwide marketplace for second-hand clothing. You can sign up for additional alert options at any time. [6] Beckerman raised 1 million in funding in October 2013 from Red Circle Investment and brought on Faroese Runar Reistrup as new CEO. Please read rules before posting. This partly refers to self-identity. Depop's 2020 gross merchandise sales (GMS) and revenue were approximately $650 million and $70 million, respectively, each increasing over 100% year-over-year. Depop is the community-powered marketplace app where people exploring style and the latest trends come to shop and sell circular fashion. Hadiyah Hussain is studying at Central Saint Martins in London alongside her Depop career. You can use it to browse listings by your neighbours and local shops with a surplus of food or other products. In June 2021, Etsy announced it would acquire Depop for $1.6 billion in cash. The Depop study echoes this point, with respondents underlining fluid identity when buying and selling clothes. LocationsView all. Weve talked about fluidity as much more than gender for some time at Depop, says chief brand officer Peter Semple. ", "Is Depop being gentrified? trend cycle continues to quicken, posing a challenge for fashion brand marketers seeking to connect with younger consumers. Vinted is more transactional. It really makes us think about, how do we serve these journeys? And forget all about contacting their support. You can also save money on shipping by using Packlink to compare couriers and find the most cost-efficient solution. Depop. The brand registered unprecedented growth in May and July 2020, with. Prices for clothing range from $3-$15. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. If you think about selling your old clothes online, two reselling apps immediately spring to mind - Vinted and Depop. Discover unique fashion. [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. Moreover, we operate in a very competitive and rapidly changing environment. Shares of Etsy have more than doubled in the last 12 months thanks to an e-commerce boom resulting from the coronavirus pandemic. Today, Depop is a place where millions of users come to celebrate their style and discover culture. Who we are. Take a picture of the item, describe it, set a price for it, and post. to incorporate the statistic into your presentation at any time. In March 2016, former CEO, Runar Reistrup, stated that Depop's growth was achieved through word of mouth. To receive the Vogue Business newsletter, sign up here. 6) The app must also have an express courier function, home collection/delivery, users can do everything without leaving home. While creating a Depop account, your phone number will be required. The content on dollarbreak.com is for informational and educational purposes only and cannot replace any professional financial advice. Please create an employee account to be able to mark statistics as favorites. The company has an expanding global presence being popularised in countries such as the United States, United Kingdom, Australia, New Zealand, and Italy. Here are some vital facts and figures about how Depop works today. On this Wikipedia the language links are at the top of the page across from the article title. Subscribe to receive weekly Side Hustle recommendations. While some users complained of poor customer service, Depop can help you make extra money online. $1 Billion made by the Depop community to date. 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. 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 has around 30 million users in over 150 countries, the majority of whom are young people. Got a confidential news tip? Our community is made up of people who are creating a new fashion system by establishing new trends and making new from old. 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. For Gen Z, the trend cycle continues to quicken, posing a challenge for fashion brand marketers seeking to connect with younger consumers. - 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 That said, you can expect to ship your items at lower prices when using Vinted. my buyer. Instead, the app uses an escrow service that holds the money in your Vinted wallet until the buyer gets and accepts the item. Otherwise, all transactions made in the app are protected, so it should be safe to sell on Depop. 2023 CNBC LLC. Depop's mission statement is "to change the way people buy, sell and think about fashion." Is Depop second hand? We're excited to build a 'house of brands' where the whole is greater than the sum of its parts.". Secondhand may be sustainable but its also cool. uniexpressgt.com participates in various affiliate programs, and we sometimes get a commission through purchases made through our links. But why Depop? Its sustainability plan is built around the UN's Global Goals, the 17 objectives designed to tackle the systemic causes of extreme poverty, including the climate crisis and inequity. Its not so long ago that many people wouldnt have thought of themselves as potential resellers, he says. If you are an admin, please authenticate by logging in again. 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. 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. The vintage items are also great since fashion often brings back past trends from time to time. Depop is designed for sellers who want to sell items such as clothing, shoes, clothes, vintage clothes and items, and cheap streetwear. Algeria. November 8, 2021. 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. 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 Premium user you get access to background information and details about the release of this statistic. ETSY. Our company was founded in 2005 and is headquartered in Brooklyn, New York. Etsy CEO on how $1.6 billion deal for Depop could help the company grow. Depop | Buy & Sell Clothing 12+ Resale Marketplace for Clothes Depop Ltd #60 in Shopping 4.8 399.1K Ratings Free iPhone Screenshots Buy. 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. It surveyed 2,176 Depop users from the UK, US and Australia and conducted individual interviews with a sample of Depop sellers, analysed alongside insights from Bain & Company. [5] Depop expanded and opened additional offices in Milan and New York City. , Aug 2, 2022 London-based social shopping platform app Depop was highly benefited by the e-commerce boom during the COVID-19 pandemic. Depop reports having over 30 million registered users in over 150 countries. Depop promises not to share your details with third parties. ", 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. As of today, Vinted is available in 15 countries. Depop is a reliable website that allows you to buy and sell items. Tom Evans says Depop has become his primary source of income. The marketplaces will operate independently, while benefiting from shared expertise in areas such as product, marketing, technology, and customer support. There are plenty of resources available to help you cleared up any questions you may have. [14] Users can also follow other sellers, whose posts will appear in their feeds. Depop allows its sellers to include rules buyers can see when scrolling through their posts. E-commerce firm Etsy announced Wednesday that it is buying the secondhand fashion app Depop for $1.62 billion. Following the closing of the transaction, currently anticipated to occur during the third quarter of 2021, Depop will continue to be headquartered in London, England and operate as a standalone marketplace run by its existing leadership team. [16] Celebrities have resold their own items on Depop, with some donating proceeds to charitable causes. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. ". Business Summary. Phones,laptops,wearables,Tablets,video games, Electronic, fashion,health, and beauty products, No limit to the type of products you can sell. 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. 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. 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. It was established in 2011 by Simon Bekerman and now has over 15 million . This presentation contains forward-looking statements within the meaning of the federal securities laws. Dont worry, youre not going to need to splash out on a property, there is a much cheaper solution. It is largely targeted at Gen Z shoppers Depop is a legitimate app that allows sellers and buyers to trade their items hence not a scam. [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. To download the Depop mobile app, go to Google Play and click download. 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. Here in the United States, it doesn't. When we do drops, its really hard to kind of nail down an aesthetic.. It allows users to buy and sell items, most of which are used . eBay allows you to edit and crop your photos compared to Depop, which lacks that functionality. June 2, 2021. All Rights Reserved. Decide your price. Then you can access your favorite statistics via the star in the header. It provides a mobile marketplace that enables individuals to buy and sell their items on iOS and Android platforms. 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. We estimate that one in four 15-24-year old's in Australia are on Depop," says Aria Wigneswaran, Country Manager Australia, Depop.. Use Ask Statista Research Service. It caters to a variety of different fashion pieces such as designer, vintage, and streetwear. Forward-looking statements include all statements that are not historical fact. Platforms should cater for all levels of buyer and seller, says Depops Semple. 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 Posting and selling using the platform are completely free, and the buyer pays the fees associated with the sale. The Depop social shopping app blends the aesthetic and social aspects of Instagram with the buy-and-sell format of eBay. Its because theyre reliable, dont charge a bunch of taxes, and offer affordable rates. It must've been cuz I mentioned the BBB. You can unsubscribe at any time. Have to complete the purchase to update your shipping address - Depop Etsy, Inc. (Etsy) operates two-sided online marketplaces that connect people and buyers, and sellers around the world. Once you make a sale, Depop will send the money to the PayPal account that youve already linked to your account. Do NOT buy from GB via Depop if you live in the EU. Create an account to follow your favorite communities and start taking part in conversations. A Division of NBCUniversal. Forward-looking statements involve substantial risks and uncertainties that may cause actual results to differ materially from those we expect. [17], As of 2021, Depop has over 21 million users, 90 percent of whom are under the age of 26. 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. 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. As a mobile app, it is available on iOS and Android platforms. 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.

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