Teens are making thousands of dollars selling secondhand clothes and accessories on this social shopping app. Here's how it works.
Courtesy of Depop
- Depop is a social shopping app that has been described as a mix of eBay and Instagram. It is largely targeted at Gen Z shoppers.
- Since being founded in Milan in 2011, Depop has grown to have 13 million users in 147 countries around the world, according to the company. Some users are making a decent amount of money flipping their clothes and other belongings.
- Here's how to sell on the app.
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Instead of spending weekends or school holidays washing dishes and waiting tables, entrepreneurially minded teens are launching mini businesses to earn money online.This is largely thanks to new apps that have cropped up in recent years and enabled young shoppers to set up shop easily and buy or sell secondhand clothing and accessories.
Depop, which launched in Milan in 2011 and has quickly gained a cult following around the world, is one of them. This social shopping app counts companies such as Poshmark and ThredUp as its competitors and has been described as a mix between eBay and Instagram.And according to Rachel Swidenbank, vice president of marketplace at Depop, selling on the app can become a very lucrative hobby. Some sellers are pulling in as much as $300,000 a year, she said.
While this isn't pure profit - Depop takes a 10% cut of each sale, and there's the cost to acquire inventory and ship it to customers - the overhead of running a business on the app are low. Plus, it's accessible to any that has a smartphone.Here's how to set up shop on Depop:
The ease at which you can shop and sell items on Depop has been a major contributor to its success.
First, you need to download the app.Advertisement
Depop will then ask you to create a username, link the account to your email address, and add a photo that represents your brand.
You'll also need to describe the style of your brand and what you're planning to sell. This description will appear just under your username on your personal page. You can also link to your Instagram page to promote yourself more.Advertisement
Next, you set up your billing address details and link your account to your PayPal. This is where all payments are handled.
It's as simple as that.Advertisement
Once you have a profile, you can start listing new items for sale.
Depop advises sellers to post at least four photos and a video to give the item its best chance of selling.Advertisement
You're asked to select the category that the item falls under. These are umbrella categories, such as menswear, womenswear, or sports equipment, for example. You can add a more detailed description of the item in another box, however.
At this point, you're also asked to set the shipping costs and decide whether you are prepared to ship the item internationally, which is usually more expensive.Advertisement
Lastly, add the price of the item you're listing. There are no set guidelines for pricing, but sellers are advised to benchmark their prices against other products listed on the app.
Customers can like, comment on, or save an item to their profile, much like you can on Instagram.Advertisement
Depop has amassed more than 13 million customers in 147 countries, hired 150 full-time staff, and raised $43.6 million in funding since launching in 2011, according to the company.
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