But its 30 million users - a. For example, if using a shipping service that requires extra insurance or expedited delivery, additional charges may be applied. Its already made headway in the U.S., now home to 38% of its users. Hey all! entertainment, news presenter | 4.8K views, 28 likes, 13 loves, 80 comments, 2 shares, Facebook Watch Videos from GBN Grenada Broadcasting Network: GBN News 28th April 2023 Anchor: Kenroy Baptiste. For sales above $20, the seller is charged 10% for the first $20 plus a 5% commission on the rest. There are other optional services available but are not mandatory. Depop is a popular online platform for buying and selling second-hand, vintage, and unique items. I have printed out the postage labels then a message from PayPal popped saying "you'll get your money . conclusion. These top Depop sellers make as much as $10,000 a month. Depop payment on hold - PayPal Community The fee that Depop takes from a $10 sale depends on the category of the item and the seller's location. For items that sell for less than $15, Poshmark charges a $2.95 fee. Additionally, by using your own shipping carrier, you have more control over the shipping process and can ensure that your items are packaged and handled in the way you prefer. Make money. Depop sellers seem to not fall in to other marketplaces, and the same vice versa, so why should we care? Also remember, PayPal fees! She recently posted a photo of a red-and-black lace camisole, captioned hOT GotH SumMer, earning about 3,000 likes on Instagram and just 100 likes on Depop. Then disclose the condition, the size, and the measurements of the model, and mention if youre offering free shipping (this can be a selling point, but if you plan to charge for shipping, Sky says not to advertise it, as shipping costs can discourage potential buyers from even taking a look). If you want to take that risk, we have a few tips on how to avoid getting scammed. For sales on the platform, Depop levies a 10% selling fee. PayPal likely believes that massive market presence, along with the stickiness of its services for merchants, gives it pricing power against competitors like Square (SQ 0.35%), Stripe, Apple (AAPL 0.75%) Pay, and Alphabet's (GOOG -0.14%) (GOOGL -0.23%) Google Pay. Some of its merchants might switch over to Square or Stripe, or roll the dice with swipe fees on Apple Pay or Google Pay. That success attracted more sellers, who provide their date of birth, billing address and PayPal account information to set up shop on the app. By staying up-to-date with current trends and understanding the buying patterns of Depops users, sellers can offer products that meet this criteria and quickly build a successful store on the platform. Naturally, Depop fees and, if applicable, PayPal fees are also significant. Peter Semple, the chief brand officer at Depop, which the e-commerce website Etsy bought last year for $1.6 billion, said the pandemic has certainly driven the scale of our business. The question regarding the apps users, he said, has become, How do we remain interesting and present to them so they continue to be part of the Depop ecosystem?. Scan this QR code to download the app now. Customers can now pay with their credit card, debit card, Apple Pay account, or Google Pay account by selecting Depop Payments at the time of checkout. How much should I charge for recording studio time? Cookie Notice The platforms own payment method is called Depop Payments. The standard transaction fee for selling on Depop is 10%, which includes both the items cost and shipping fees. About 90 percent of its active users are under the age of 26. Its important to check the item listing and shipping fees before making a purchase to avoid any surprises when it comes to payment. Desire Zavala, 23, from Caguas, Puerto Rico, branched out to Instagram last year after sales for her Depop shop, Conscious Brat, sagged. If you choose to activate the Seller Protection feature, you will receive an extra level of security and safety for your sale, including protection against fraudulent buyers, chargebacks, and more. How much does Depop take from a $10 sale? Why did depop take more than 10% from my sale? WTF : r/Depop - Reddit As a seller on one of the most well-known platforms, you should be aware of the fees you must pay in addition to how cross-listing software functions and all other tips and tricks. It probably doesnt matter for any ecommerce business for a 2-3 year plan, but if you want to be making money and growing 5-10 years down the line, then Depop should be seen as a cultural signpost, their users will be the 30-45 year olds looking to spend money online who will have a disposable income and are used to have their niche personalised requirements served. In the meantime, make sure you're staying in the green. Younger shoppers are generally less loyal to brands and platforms than older shoppers are, according to market researchers. Depop and Poshmark are two popular online marketplaces that allow users to buy and sell pre-owned items including clothing, accessories, and other goods. This commission fee is taken out automatically during the payment process, and the remaining balance is deposited into the sellers account. For items that sell for less than $15, Poshmark charges more than Depop. ChannelX is published by InternetRetailing Media Services Ltd on its behalf.Tel: +44 (0) 207 062 25 25Email: [emailprotected], Be notified of upcoming events and webinars. Why did Depop charge me more than 10? Do you have to pay a fee to sell on Depop? Depop charges you only when you make a sale, unlike many other selling platforms, so there are no fees for the time your item is listed or any upfront costs to list it. However, you may visit "View Preferences" to provide a controlled consent. The key to making a lot of money on Depop is to build a strong and loyal following by creating a unique brand and style. She has over 20 years experience in retail and supply chain management, with a particular interest in B2B re-selling. I dont think Depop is going to the Google of retail, but the tremors of the young will become the trends of the future. Whatever your style - you'll find a buyer looking for items like yours in our ever-growing community. I don't recognise a fee or charge - Depop help GB But, like other online shopping businesses that boomed over the past two years, Depop is now confronting the downside of its pandemic-fueled success. Although she still sells her mesh tops, dresses and lingerie on Depop, she now gets one order on Depop for every 10 orders on her website. He cited Emma Rogue, a seller of secondhand clothing who turned her Depop shop into a brick-and-mortar vintage store. We tapped experts and researched recycling programs to find reasonable ways to offload your clothes. I am a relatively new seller on Depop, but I have sold at least 11 items in the past 3 months. But, this year, Ms. Tang began focusing on selling her clothing brand, ORIENS, exclusively on her website. You should also take into account any fees or charges on Depop when setting your prices. She also grew the business on Instagram, where she has 50,000 followers. So I ended with 176.81 into my paypal before depop takes out their 10% cut. Fast responses, quick shipping, and a few good reviews can seriously boost your credibility as a seller. If the purchase is made through their buy button, then you can be sure you wont be getting the exact amount you sold the listing for. Comment * document.getElementById("comment").setAttribute( "id", "afda2f15c47f614bd39dcc8782cb0bb6" );document.getElementById("f160e386b4").setAttribute( "id", "comment" ); Save my name, email, and website in this browser for the next time I comment. I asked the buyers and they said the money has gone out of their bank accounts for sure. I find the fee a fair price to pay to resell something like a ruby red, ribbed-knit top I originally bought for $25. But, over time, some Depop sellers began looking to grow their businesses beyond the app. Your iPhone will charge again when the temperature drops. Depop, a fast-growing fashion resale app, primarily charges a 10% commission on all transactions made on its platform. Vintage clothing has a unique appeal to buyers due to its uniqueness and history, making it a popular choice for fashion-conscious individuals. Depop seller Sydny Sky told me that she makes anywhere between $800 and $1,500 a week by following a few simple rules, some of which also worked for me: Photos will get you on the explore page, but its the description that really sells, Sky says. The fee that Depop takes from a $10 sale depends on the category of the item and the sellers location. This means that both the buyer and seller pay a fee, which is automatically deducted from the payment. Depop US top seller Sydny Boney. Depop is a popular marketplace to buy and sell secondhand items. Despite the app's digital-first approach, behind the profiles are real people, so treat them like it. Like therapy or nosy relatives, a little objective feedback can help point out flaws you would otherwise never catch. Heres How to Responsibly Donate and Repurpose Your Castoffs. The future of fashion never looked so social, green, or unique. How many people will a 10 pound ham fees? It soon built a reputation for selling used clothing, with influencers like the Italian fashion blogger Chiara Ferragni letting followers into their closets by starting Depop shops. Stripe charges the same rate. Depop fees and charges - Depop help GB The deal was structured as an all-cash transaction, with Etsy funding the acquisition through a combination of cash on hand and debt. Sky warns: Dont let your photo be more distracting than the product youre selling. Make sure your clothing is the focal point of the picture by keeping the background simple: Clean the space and keep pets out of the frame so they dont steal your limelight. Last quarter, its number of active accounts rose 21% year over year to 392 million as its total payment volume surged 50%. She recommends following the same format for each listing: Write your description first and include as many keywords as possible. By clicking Accept, you consent to the use of ALL the cookies. With hard work and persistence, you can realize your financial goals on Depop. However, its important to note that fees are a necessary cost to maintain a secure and reliable platform for buying and selling goods. The platform can service any taste or niche, where even the classic fashion categories/descriptions on Amazon or eBay are rigid by nature, Depop specifically serves gender fluidity and diversity that would be implicitly delineated on other platforms. Amazon first Pinterest third-party ad partner, New eBay Certified by Brand expands luxury offering, Avalara eBay.com cross-border compliance solutions.