We expect the deal to close in the third quarter of 2021. Its sellers would be promoting their shops on social media and recommending the platform, and it was just growing very much on its own, she says. Formally embedded sustainability and DEI priorities in Leadership and key business functions quarterly objectives via the introduction of Depops ESG board. In 2022, and as part of Etsy Inc., we set a group Net Zero. Growing an audience, sharing content, and interacting with fellow users are all possible. Nowadays, search enough corners of that community, and you can find incredibly narrow categories, like cottagecore or dark academia, recent trends propelled by viral videos during the pandemic of moody-looking girls sitting around cottages and university libraries. I can tell you nobody else in my circle of friends will be wearing something similar.. Youve finished the first step! Thats what attracted Raga to the company in 2014. Mens XL. Established names like J. The brand registered unprecedented growth in May and July 2020, with. I dont understand Poshmark. Since January 2021, Depop made donations to charitable organisations and campaigns, including: In support of the situation unfolding in Ukraine in early 2022, Depop launched an employee donation matching programme for verified organisations providing relief to vulnerable individuals and families in Ukraine. If your timing had been . Were not going to tell you to stop buying. Furthered our ongoing DEI training efforts by conducting two mandatory inclusion training workshops for all of Depop, led and developed in collaboration with an external vendor. Thrifting as a culture has grown immensely and its kind of diluted the whole beauty of finding treasures., She says that at many thrift stores, people will wait for the bins to roll out with new products and push one another aside to get the best pieces. You told us these past few weeks we weren't doing enough for our Black community: and you're right. During the same period, Depop sold some $660 million in merchandise, doubling sales from the previous year, thanks in large part to teens who were bored at home and scrolling on their phones even more than usual. Introduced a Top Seller Code of Conduct factoring environmental and social considerations in order to empower our Top Sellers to adopt more sustainable practices in their shops. Depop has raised a total of $105.6M in funding over 7 rounds. Use of this site constitutes acceptance of our, Digital Vendors previously copied Depop designs by dropshipping the products from China for a much lower price. [Online]. A PDF file of the shipping label will prompt. Etsy ( ETSY -0.48%) made the surprising move last summer of acquiring Depop, a peer-to-peer social e-commerce site, for $1.625 billion, giving it exposure to the resale market. ", Business of Apps, Annual revenue and gross merchandise volume (GMV) of Depop from 2019 to 2021 (in million U.S. dollars) Statista, https://www.statista.com/statistics/1337127/depop-revenue-and-gross-merchandise-volume/ (last visited March 05, 2023), Annual revenue and gross merchandise volume (GMV) of Depop from 2019 to 2021 (in million U.S. dollars) [Graph], Business of Apps, September 12, 2022. In June 2020, Depop posted a statement on Instagram vowing to make it easier to shop and discover Black and POC sellers on the Explore page and increase representation of Black and POC on all teams, admitting that at the time no one on its management team was Black and only 11% of its employees were. As a Premium user you get access to the detailed source references and background information about this statistic. Aug 2, 2022 London-based social shopping platform app Depop was highly benefited by the e-commerce boom during the COVID-19 pandemic. appearing in this TV commercial. Depop was founded in 2011 and has since become one of the most well-known fashion marketplaces. It cuts down on waste, but the low prices and the pace with which consumers move through trends is the same. A major part of what distinguishes Depop from other established markets like Amazon or eBay is its social component. Here's what we've done and what we've learned: Vans, the original action sports brand and icon of creative expression, and Depop, the fashion marketplace app with the cult Gen-Z following, announce their first-ever collaboration, championing community and creativity. Sellers model their wares on Instagram and TikTok in hopes of building large followings, and Depop does what it can to encourage this practice. From fine gold chain to statement necklaces, low-key studs, hoops and ear cuffs. But for all of Depops virtue signaling about its eco-friendly practices, ask its sellers why theyre on the app and theyll likely cite some combination of access to cute clothes, affordability and chatting with a community of like-minded fashionistas before they mention that their purchase is green, too. As part of our broader integration into Etsy Inc., we plan to leverage the groups existing processes to formally embed sustainability criteria into our procurement decisions in 2022. Unlike Poshmark, Depop has limited options for online payments. These stores are located in New York City and Los Angeles. Furthermore, Depop also allows you to sell your clothes. One-to-one interviews with Depop users in the UK, US. Concerns arose in November 2019 regarding insults and messages sent by anonymous users to sellers on the site. Business of Apps. Trends come and go in fashion, but Depop seems to have recognized what the e-commerce industry as a whole has missed: its not just about the clothes, its about the experience. Depop has also been accused of a lack of diversity both on the platform and at the company. Depop is a familiar name for anyone who supports sustainable fashion, follows lifestyle trends, or just loves style a little. Furthermore, the social component makes merchants more likely to sell only high-quality, legal products. Check out our FAQ Page. Depop moved its headquarters to London in 2012. Depop ranks 405th among Marketplace sites. I have sent three emails to the creator of this extension with no response (I checked my spam folder!). $11. Etsy is currently trying to acquire the app for $1.625 billion, thanks to 90 percent of Depop's users being under age . Depop was also able to expand into the United States through its money when it opened its second office in New York City (January 2015). Customers may purchase new or pre-owned clothing on the Depop platform. The community grew from there. The Fashion Brands Selling On Depop, From Designer Labels To Indie Designers You can shop one-of-one items, vintage, and exclusive collabs. Their latest funding was raised on Apr 19, 2021 from a Non-equity Assistance round. Keep an eye on this page to learn about the songs, characters, and celebrities appearing in this TV commercial. The scene cuts to other kids downloading . As the social-shopping platform's global head of sustainability, it's Justine . You will receive a six-digit code by text from Depop. Communities speaking up for each other. Our 2021 scope 1-3 emissions represent 19,468 tCO2e which have successfully been offset through verified carbon units (VCUs) and verified emissions reductions (VERs). Whether youre a complete newbie or not, well show you exactly how to sell on Depop step by step with a brand new account. This may be because more people are visiting stores in person. Depop, which allows members to set up online shops and buy and sell clothes, offers tens of millions of items at a relatively low price point and every niche you can imagine, whether you're into. statistic alerts) please log in with your personal account. They reveal 5 ways to make money with Gen Z's favorite shopping app. We believe Depop to be the resale home for Gen Z consumers with a unique offering and highly engaged user base, Etsy CEO Josh Silverman said in a press release. My dad doesnt really get it. Depop's latest research reveals shopping secondhand reduces the demand for buying new, September 21, 2022 (New York) - Community-powered fashion marketplace, Depop, has announced its second instalment of the Now / Next series: A program dedicated to developing the skills of young entrepreneurs and sellers on Depop taking them from where they are now to where they want to go next. The community-powered circular fashion marketplace. Photo: David M. Benett/Getty Images for Depop. Continued to pay a living wage across all our territories and obtained living wage certification in the UK, including all our direct contractors and providers of outsourced services (i.e. Depop has launched a new onlineSafety Centreaimed at empowering its global community to buy and sell safely and promoting an honest, creative and kind marketplace. Depop proudly states that 90 percent of its active users are under 26. The first item you listed on Depop has been successfully listed! Around 3,000 copies were sold each month, allowing them to support themselves and later pursue other interests. British fashion and textile designer Richard Quinn has partnered with Depop, the fashion marketplace with the cult Gen-Z following, to launch a new, affordable collection of pieces designed and produced in his London studio. The transaction is expected to close in Q3 2021, pending regulatory approval in the U.S. and U.K. and other closing conditions. In the past 12 months, we have introduced the following benefits for our global employees, with a specific focus on mental and physical health support: 1) introduced life insurance and private healthcare for all global employees, 2) introduced mental health days as a time-off option, 3) increased access to mental health resources including free annual memberships to Headspace, therapy via Self Space and trained in-house mental health first aiders. Access to this and all other statistics on 80,000 topics from, Show sources information Depop, the community-powered marketplace app to buy and sell unique fashion, shares its year one progress on its first set of commitments to reshape fashion consumption. I just wanted to spend all this time in this community getting inspired by how people were taking photos and branding themselves., Depop has a business imperative to expand that community. As of 2021, Depop has more than 30 million customers throughout 150 countries. But if Depop has created a virtual version of hanging out at the mall with friends, what happens when the parents show up? Additionally, youll need to include a description, five hashtags, your location, a relevant category, shipping details, and the items price. Are you ready to get started? Lights and cameras take up most of the space. Keeping the stories, the culture, the value, the designs, moving for as long as possible. Depop responded by increasing the size of its Trust & Safety team and investing in technology that prevents these types of actions (mainly speech recognition). You must connect your PayPal account to Depop after creating an account before you can begin collecting payments. 18-35 year olds are making an average of 350 a year by selling unused clothing lurking in their wardrobes. Please do not hesitate to contact me. One way to do this is by listing new products on your depop shop. In Groove (PIG), People In-Groove is a magazine covering news and culture founded by Beckerman and a brother in 1998. What they did is started with university kids and little by little started to grow to all generations, she says. Some of my favorite stores have just been purged completely from the good items, she says. Depop was hardly the only upcycling company that saw success in 2020 (upcycling, for those unfamiliar with the term, is just a fancy way of saying resale), nor was its upward trajectory strictly attributable to the pandemic. Cadillac - "Hands Free". Then she started making the rounds of 12 thrift stores within driving distance of her home. 4. adidas Originals and Depop, the community-powered marketplace app to buy and sell unique fashion, announce a collaboration that reimagines the classic Stan Smith silhouette for the next generation, on a journey to End Plastic Waste. Get full access to all features within our Business Solutions. The goal, Raga argues, is not for shopping to be virtuous but for virtuous shopping to be easy. The program has been renewed following the success of last years group of sellers, including Forbes 30 under 30 Josephine Phillips and Cierra Boyd who will be starring in HBO Maxs The Hype .. This report is the product of extensive quantitative and qualitative research including: An October 2020 survey of 2,167 Depop users on sustainability-related topics. The move is the latest sign of growing interest in the burgeoning fashion resale market, expected to be worth $51 billion in 2023 . Depop sellers can create a simple store or build a full-featured one. The board consists of our Executive Team and senior leaders representing key business functions to drive and be held accountable to cross-functional ESG objectives that progress our impact agenda on a consistent, annual basis. These apply to your sales for commercial transactions but they have different additional ones for international transactions. To use individual functions (e.g., mark statistics as favourites, set Still, Rent the Runway, which lost its $1 billion valuation during the pandemic, announced in June that it was expanding into resale, saying it had noticed members buying pre-loved items from us at twice their usual rate.. 7. 642K results Category Free domestic shipping On sale Sort $1.00 $30.00 $12.99 $12.99 $49.00 $16.00 $16.00 $15.00 $16.00 $16.00 $16.00 Its been called out repeatedly over the years by those who say its algorithm chooses mostly cisgender white women to feature on its Explore page. The first thing you need to know about selling on Depop is to take clear pictures of your item. Click Next after filling out the essential information. There are lots of full-time Depop sellers and resellers on our platform who make a consistent living from selling all sorts of preowned products in their online shops. If this is the case, you may have thought about selling on Depop. Hi there, I'm Madhav, and I'm thrilled to be able to share my thoughts and experiences with you through my writing. Depop sale: fashion retailers must move faster on sustainability - or they will be replaced by Gen Z apps Published: June 8, 2021 11.25am EDT Want to write? "Annual Revenue and Gross Merchandise Volume (Gmv) of Depop from 2019 to 2021 (in Million U.S. And I see a lot of people who look like me being promoted on the Explore page., One of Depops pitches to users as recently as 2020 was that they could start a business from their bedrooms, but Depop is their main source of income for only a small percentage of users. Were committed to building the worlds most progressive and diverse home for fashion. So while you are getting a commercial rate shipping with Depop, you are not getting the cheapest possible rate. Mar 9, 2021. been rounded. ABSOLUTELY DISGRACEFUL AND SPITEFUL APP DO NOT GET THIS APP unless you'd happy with daylight robbery, terrible customer service , useless support staff and random account suspension or in my case DELETED ACCOUNT. Depop is an online marketplace where you can browse, checkout, and buy clothes. Through their social influence, they may become influencers and in some cases, full-time sellers on the site. Shop what you love. Versaces a brand thats accessible for very, very rich people, she says. TV commercials on iSpot.tv. No uncivil discussions. Right now they have less than 2% market penetration in the retail resale market, says Shweta Khajuria, the director of Internet Equity Research at investment-banking advisory firm Evercore. Depop, the community-powered marketplace app to buy and sell unique fashion, has been certified as a climate neutral company for the first time by leading climate solutions provider South Pole. Click Publish listing when finished. 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. Semple, meanwhile, cited a company that has managed to stay cool for decades: Nike. The fashion forward never want to post the same outfit to their Instagram feed twice and are constantly refreshing their closets. It might seem complex and overwhelming to sell anything on a new platform, but do not be discouraged. A December 2020 report by McKinsey & Co. predicted that profits in the fashion industry would fall by 93% that year. The media could not be loaded, either because the server or network failed or because the format is not supported. A few factors to consider before you start selling on Depop, including the Depop selling and listing costs, will help you build a solid foundation for future income. If you are an admin, please authenticate by logging in again. You press and make an offer and they accept it. Depop and Bain & Company have collaborated on a first of its kind report on Gen Z.Futureproof: How Gen Zs empathy, awareness and fluidity are transforming business as usualdetails unique behavioural insights about how this rising consumer cohort is making its mark on fashion today and reshaping the future. Explore jewellery that'll take your outfit to the next level. Check out Depop's 30 second TV commercial, 'Buy and Sell' from the Online & Auction Websites industry. Depop has a consumer rating of 1.24 stars from 206 reviews indicating that most customers are generally dissatisfied with their purchases. In 2022, we are working to realign our representation targets in line with updated benchmarks with a view to share progress following the publication of our. The power of secondhand: how resale slows consumption, Meet the Six Sellers from Depops Latest Now / Next Initiative, Maria Raga Stepping Down as Depops Chief Executive Officer, Introducing EcoEnclose + Depop packaging in the US, Year One: Driving forward our vision for a new fashion system, Introducing our 2021 Gender and Ethnicity Pay Gap Report, Depop achieves climate neutral certification, HURR joins Depop to offer pre-rented styles, Depop and Bain & Company outline Gen Z paradigm shift, Futureproof: How Gen Zs empathy, awareness and fluidity are transforming business as usual, Our commitment to supporting the API+ Community starts by listening, adidas Originals partners with Depop to launch the new era of Stan Smith with Style Reworked, Depop Named to Fast Companys Annual List of the Worlds Most Innovative Companies for 2021, CEO Maria Raga named to 2021 TIME100 NEXT LIST, Depop announces its partnership with Black in Fashion Council, Depop introduces a vision for a new fashion system, Update on our commitment to the Black community, Depop taps its community to design a capsule collection with Vans, Richard Quinn partners with Depop to launch new collection, Megan Thee Stallion celebrates texan style with Depop, Depop and Cartoon Network Host Slumpy Kev's Art Basel Debut, Ralph Lauren and Depop launch "Re/Sourced". If you are in the US, the standard transaction fee for Depop Payments is 3.3% + $0.45 and the standard Paypal fee is 3.49% + $0.49. Provided the option for all global employees to take two Impact Days to undertake volunteering activities. The in-app collection is set to go live on January 17th will feature ~90 preloved items from Megan Thee Stallion and four top Depop sellers from Texas, celebrating a Texan flair and attitude that's culturally relevant on a global scale. Returns 69. About 90 percent of Depop's active users are under the age of 26. Depop, a community-powered, purpose-driven marketplace to buy and sell unique fashion, extends Etsy's opportunities further into the high frequency apparel sector, specifically in the fast-growing resale space serving the Gen Z audience. Depop launched its iOS app in August 2012 in Italy. Learn more about how Statista can support your business. To find these sets on Depop, try searching "vintage tracksuit," "sweat set," "loungewear set," "two piece vintage set," "co-ord set", and "sweatsuit". You can now list as many products as you want. However, the market does include a greater emphasis on preowned (or vintage) items to support sustainable practices. A Depop fee of 10% is the first fee. The average age of an Etsy customer is about 39. certification level), by implementing initiatives to improve our environmental, social, and governance performance. Depop raised a further 1 million in October. . For example, there is a charge of 2.9 percent plus $0.30. Etsy acquired Depop for $1.625 billion (mostly cash, some stock). Depop's research reveals you could save up to 25% per item when shopping secondhand - an average of 185 in a year across all purchases. As of March 2021, users in their teens accounted for 34.6 percent of Depop's active user accounts in the United States. Available: https://www.statista.com/statistics/1337127/depop-revenue-and-gross-merchandise-volume/, Annual revenue and gross merchandise volume (GMV) of Depop from 2019 to 2021, Available to download in PNG, PDF, XLS format, Recommerce market value in the United States 2019-2025, Top 100 international marketplace types in the EU 2021, Online C2C commerce penetration in European countries 2021, Share of China's online retail sales 2022, by type, Online C2C market size in Japan FY 2016-2021, Revenue and gross merchandise volume of fashion marketplace Depop 2019-2021, ebay.com traffic distribution in 2022, by device, Most downloaded C2C shopping apps worldwide 2022, eBay app downloads per month worldwide 2020-2022, Vinted app downloads per month worldwide 2020-2022, Mercado Libre app monthly downloads in Latin America 2020-2022, Leading online classifieds worldwide 2022, by market cap, CAGR of leading online classifieds worldwide 2020-2022, EV/EBITDA of leading online classifieds worldwide 2021-2023, Leading classified websites worldwide 2022, by visitors, Leading classified websites worldwide 2022, by pages per visit, Bounce rate of leading classified websites, Classified websites' average visit duration worldwide 2022, Consumers who bought and sold secondhand items 2022, by country, Preference for online stores with a direct connection to sellers 2021, Impact of inflation on recommerce usage in the U.S. 2022, Reasons to use recommerce in the U.S. 2022, Online C2C e-commerce penetration in the European Union 2007-2021, Importance of C2C sales for sellers' income in Russia 2022, Sales share in C2C market in Russia 2022, by product category, Frequency of using re-commerce platforms in China 2021, Leading C2C e-commerce sites Singapore 2022 by monthly visits, Pinduoduo's annual revenue 2017-2021, by segment, Leading C2C e-commerce sites Thailand Q3 2021, by monthly visits, Users, buyers, and sellers on Depop 2019-2021, Depop app monthly active users in the UK 2018-2021, Depop app monthly downloads in the UK 2018-2021, Online C2C e-commerce penetration in the Netherlands 2005-2021, Online C2C e-commerce penetration in Belgium 2006-2021, Online C2C e-commerce penetration in Finland 2011-2021, Online C2C e-commerce penetration in Czechia 2006-2022, Popular cosmetics bought via re-commerce platforms in Japan 2021, B2C & C2C online sales revenue in Argentina 2014-2021, Online C2C e-commerce penetration in Hungary 2005-2021, Online C2C e-commerce penetration in Italy 2005-2020, Annual revenue and gross merchandise volume (GMV) of Depop from 2019 to 2021 (in million U.S. dollars), Find your information in our database containing over 20,000 reports. Depop deducts 10% of the purchase price (including shipping costs) once an item sells. Depop partnered with several nonprofits, creating and promoting accounts for them to offload extra inventory and operate safely during lockdown. Chart. Its a challenge, but the great thing about upcycling is giving life to something that was disregarded by so many people.. The letter F. An envelope. Poshmark charges 20% on purchases over $15 (and $2.95 flat fees on purchases under $15), while Vinted charges 5%. Before you start selling on Depop, there are a few things to consider, like the Depop selling and listing fees, to help you lay down a firm foundation for your future profits.