1️⃣ A New Chapter for Circular Fashion
Depop, the beloved platform for secondhand treasures, is turning the page on its business model. Starting March 20, 2024, UK sellers will enjoy a 0% fee on newly listed items. This dramatic shift from a 10% charge is part of Depop's broader strategy to make the fashion industry more sustainable. CEO Kruti Patel Goyal articulates this move as an effort to bolster the resale economy and offer more competitive payouts to sellers. It's a win-win: more cash for sellers and more unique finds for buyers.
2️⃣ Investing in the Community
While sellers celebrate, buyers will see a new up to 5% marketplace fee starting April 15. This change underpins Depop's commitment to its users, channeling funds into buyer protection, customer support enhancements, and community growth. The introduction of this fee aims to sustain the platform's quality and reach, ensuring Depop remains a safe and vibrant marketplace for preloved gems.
3️⃣ Amplifying Circular Impact
Depop's strategy is clear: empower its community to sell more, earn more, and contribute to a greener planet. The move is expected to drive a significant uptick in listings, diversifying the platform's offerings and making sustainable fashion more accessible. Goyal's vision is to make participating in the circular economy effortless, positioning Depop at the forefront of the fashion revolution.
4️⃣ Beyond the App
Depop's commitment to circular fashion extends beyond the digital realm. In partnership with Sook, the platform has introduced pop-up shops in key UK locations like Oxford Street and the Birmingham Bullring. These pop-ups showcase the tangible benefits of circular fashion, offering a curated selection of preloved items. It's a strategic move to connect with the community offline and reinforce the value of sustainable fashion choices.
Will you list more on Depop now?
