Word-of-Mouth Marketing: Definition, Examples & Strategies They want choice and individuality, the ability to buy on demand and sell on with ease. As Depop, which has 219 employees, struggles to police millions of users across multiple continents, the start-up is reckoning with dangers facing its young users that have plagued the internet since the early 1990s. You're probably not developing and launching a product into the marketplace without market research or at least you shouldn't be. Olivia Rodrigo, the latest it girl, utilised the site in order to advertise and sell the clothing that was featured in the music videos for her platinum record. Based on 3 salaries posted anonymously by Depop Influencer Marketing Manager employees in Burton Latimer, England. The Depop community is chock full of diverse and stylized users. Depop influencers are selling their own products directly to their followers while cutting out the middleman in the process. Customers and entrepreneurs listed on the platform describe it as a modern day blend of a thrift store, an online marketplace and an Instagram-like shoppable social platform. Intriguingly described as the "love child of Instagram and eBay", social shopping app Depop is an online marketplace for used items. See more ideas about social media strategy instagram, depop, marketing strategy social media. How Depop's marketers build marketing like a product team Understanding this process of acquisition also allows Depop to identify inefficiencies in the cycle, and rectify them accordingly., The result is a high organic growth company thats getting a digital native generation hooked on thrifting., This article was based on a Blueprint podcast interview with Depop founder Simon Beckerman featured in ep #13 of our Work In Progress podcast series.. However, all self-promotion must be done in a self-effacing, borderline self-deprecating, manner. Slightly less so if theyre more eager to see your short story renditions of fairy tales as demonic stuffed animals. Yoann Pavy Explains How Depop Is Using Social Media To Reach - AList The company has designed its app to match the needs and comfort of its young users. Sydny Sky. Studs, the young DTC brand known for piercing the cool girls of Instagram, started selling earrings via a brand shop on Tuesday. The following image - that illustrates how a media brand, My Little Paris, grew dramatically from one email sent to 50 friends . Depop - buy, sell, discover unique fashion This decision makes perfect sense, due to the heavily Gen Z audience on the app. Sellers and shoppers also benefit immensely from Depops data and AI-driven algorithms and filtering tools. 110 Lomita Street El Segundo, CA 90245 - Warehousing + Deliveries, 305 Ave G, Redondo Beach, CA 90277 - Headquarters, Copyright 2016 Hollywood Branded Inc. | All Rights Reserved |. To build off my last point, Gen Z has taken the concept of personal branding to another level in the form of highly nuanced aesthetics or niches. 3) Optimum health and longevity. Managed large brand building and Media budgets to drive growth . We believe that bringing brands, content, celebrities and influencers together makes storytelling more meaningful and impactful. Depop - Fashion Ecommerce Marketing Strategy 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 our PaaS provider, we were facing several challenges, such as scalability limits, lack of flexibility in how we scale our applications, and constraints in the way solutions are built due to a fully managed, but limited, set of available capabilities . TechCrunch reports that Depop has seen revenues of around $50 million since its launch, with the company taking a 10% cut of the overall $500 million it has sold in merchandise. The Depop app utilizes social media as the backbone of its marketing campaigns. We publish marketing inspiration, case studies, career advice, tutorials, industry news, and more. And it's costing you cost, time, and resources. Your . TechCrunch reports that Depop has seen revenues of around $50 million since its launch, with the company taking a 10% cut of the overall $500 million it has sold in merchandise. Repeat. Feb 14, 2023 - Explore Syd.real's board "Depop", followed by 175 people on Pinterest. It's simple to get started. Whatever your vibe we'll share our pro tips to help you get there. Fashion brands are appealing to Gen Z shoppers by setting up shop on Depop. The Depop community even has its own signature fashion trends. #depop pic.twitter.com/FdRH29c37k. Marcos Angelides, chief strategy and innovation officer at Spark Foundry adds that consumer appetite for resale goods represents an opportunity for brands both inside and outside the fashion industry. With Gen Z's buying power topping $140 billion, were clearly making our unique mark on the global economy and not only as consumers but as entrepreneurs and trailblazers of a globalized, digital economy. The apps main demographic is a creative audience of 15 to 25-year-olds, so consider what kind of photography will get them interested in your product dont be afraid to get imaginative. This was the end of 2010; Instagram had just come out This is how Depop came out. Through market analysis, Chromatic Brands discovered that items that come under the creative passions header like music, film and photography were among the most traded on eBay and Facebook yet this audience was underserved by the bigger re-sale sites. M&C Saatchi Londons real-time cost of living survey On the Money found Vinted was the most prevalent platform. How the Depop generation thinks | Vogue Business Depop US top seller Sydny Boney. However, a score below -2 would be considered even better. In addition, it also fits the current narrative of fashion that favours a sustainable wardrobe along with a redefined sense of ownership. What is Depop, and why did Etsy spend $1.6 billion on it? - Vox Marketing Strategy: What It Is, How It Works, How To Create One As one former Depop seller admitted to Refinery29 that she "really hates how Depop takes 10% of sellers' earnings. From day one, she worked on developing her personal brand in conjunction with her product offering; by being active on social media and showing her audience theres really a (cool) person behind her store. By selling on Depop you're keeping items in the circular economy and helping reduce fashion waste. I understand that Vue.ai may reach out to me with relevant communication. Everyday 140,000 items are listed on digital clothing flea market Depop. The Depop Algorithm - How It Works in 2022 - SellerAider Dont underestimate the weight your personal brand can have on the success of your product or service. But be honest with yourself as to whether youre blending in with the rest of your competitors or if you dont have a defined target audience. Take the virality of posting a video to Tiktok of yourself dancing, or simply a frog in some sort of random context. The fashion industry is unique - it is a highly competitive market. Reposting cool images created by the Depop community is the main social strategy used by Depop's team. Case study 1: From University to Career. I like Public Relations and Marketing. How Vinted Used Community-Led Brand Marketing to Grow It has built out a loyal customer-base of 18 to 26 year olds in the UK and US. And what's good on saying something that will never be read?Stay short! In todays competitive markets, we believe that benchmarking is key, as it allows you to deploy your marketing efforts more efficiently. Depop's Top Sellers Reveal 5 Ways to Be Successful on the App Detailing Depop-Repop Cleanup Strategies | National Hog Farmer Etsy acquires Depop for $1.6B to cash in on Gen Z shopping habits Sellers will promote their store by targeting their desired markets private messages. "To some degree, we have a closer relationship with Gen Z . We exist to empower the next generation to transform fashion Over the past 18 months, our growth in the US has been almost entirely organic, driven by the community of creative young people on Depop, affirmed the companys CEO Maria Raga. In the UK, where the company is based, of people aged 15 to 24 are registered with the app., Impressive stuff, but whats driving this growth? Three Depop creatives also collaborated with members of the Adidas family to rework different clothing pieces. You may opt-out by. <br> Strong functional competency from insight to execution and across brand and innovation. When most US fashion companies were caught off guard by the impact of the Coronavirus pandemic, the Chinese ultra-fast fashion giant Shein was conquering the US market with sustained growth in sales. The biggest brands in the secondhand category are evolving their marketing strategies as the sector becomes increasingly competitive. Depop's Head of Digital Marketing: Content teams need - Econsultancy Theyve worked with major brands like Dickies as well as entrepreneurs like the, Vacation In Hawaii Like A Homeowner With Destination Residences Hawaii, This Ranch In Wyoming Comes With Its Own Air Strip And Guest Lodge, Award-Winning Architect Reimagines The Hotels Of The Future, Five-Star Hotel Chef Shares Tips For Creating A Kitchen Garden At Home, Experience A Five Star Hotel At Home With These Recipes From Red Carnation Hotel Collection, The Travel Trend Of The Future: Luxury Resorts That Grow Their Own Food, Spring Break Vacations For The Whole Family, Airbnb Invites You To Sleep In A Spaceship. Lewis says: Vinted is clearly generating revenues as such they can use mainstream big rich mediums to bring in new people and get increased penetration.. You have to do the math yourself, which is annoying. For a brand making its Depop debut, Oskar noted product photography as a way to stand out and make sales. It was here their collaboration with Cepada became an experience in addition to sellingher art in-app. Weve put together a bundle perfect for your Capricorn best friend. To differentiate itself in a crowded market Depop sells itself more as an inspiration destination, and although the transaction is part of it, Dool says users are buying into people and their styles when they join Depop.. To get big on Depop, its all about personal branding. Founded in 2011 by Italian entrepreneur Simon Beckerman and officially launched in London in 2013, Depops GMV since its launch is $500 million with 100% YoY revenue growth. In interviews with nearly a dozen Depop users, BoF heard numerous reports of women being inundated with sexual messages. Brian Procell is an expert in vintage, and we couldnt think of anyone better to curate a unique collection of rare and unique items. The personas fit like a glove. 9 Types of Marketing Strategies Definition and Examples The Dark Side of Depop | BoF - The Business of Fashion A marketing strategy is a business's game plan for reaching prospective consumers and turning them into customers of their products or services. Steve Dool - Brand and Marketing Director - Depop | LinkedIn By keeping their social strategy team small, Depop is able to capitalize on each and every moment in culture with perfect timing. Depop has a different brand strategy from Vinted. Result oriented marketing professional with over 19 years of experience in leading FMCG and Telecom companies - Gillette, P&G and Vodafone.<br> Rich marketing experience leading big global brands as well as establishing new brands. Marketplace giant Etsy has plans to acquire Depop in the third quarter of 2021 . 4 min. Crew, Neiman Marcus, Lord & Taylor and J.C. Penney . Embedding these personas at the heart of their strategy, depop experienced 85% year-on-year sales growth. And Anna Sui launched a shop featuring . hbspt.cta._relativeUrls=true;hbspt.cta.load(442891, '1cfa53cb-649d-4809-8e36-3c410cd55f16', {"useNewLoader":"true","region":"na1"}); Depop is not afraid to partner up with other brands. Depop Redefines Social Media Marketing - Hollywood Branded In-App Messages, Comments and Item Descriptions . Cepedas art is rooted in creating her interpretation of safe spaces through utilizing brightly colored faux fur. Theyll also take their efforts cross-platform by engaging on Instagram, Tiktok, and Pinterest fashion content. Once you know about the product and practical differences the big first challenge is positioning. Depop, a social app targeting millennial and Gen Z - TechCrunch Below 0, you're safe ie. Gen Z has perfected the art of begging for attention. depop: Understanding Customers - Case Study - Sense Worldwide They run rampant, unchecked, in Gen Zs online spaces. Depop might also be so appealing to Gen Z because reselling is sustainable consumerism, one of the core values of our generation. Think Y2K cowgirl, goth hippie earth faerie, e-girl, cottagecore milkmaid, and countless other deviations. It's good! Sell Products Better And Improve Engagement With A.I. Build high-quality, detailed product data instantly, Check vendor images and compliance to guidelines at scale, Sell Excess Inventory Faster To Maximize Recovery Costs, Drive growth with personalized product recommendations, Increase revisits with personalized marketing content, Provide personalized styling recommendations to increase AOV, Eliminate endless scrolling with personalized sorting, Power accurate & relevant search results every time, Allow shoppers to visualize and style products on relatable models, Build product imagery without elaborate photoshoots, Build thematic product collections with ease, Curate personalized subscription boxes at scale. Total earnings: $12.85 Number of items sold: 3 Average earnings per item: $3.21 Just being a business with no storyline or narrative, is boring and will be overlooked. Because its a great example with many different best practices you can pick and implement yourself. Founded in 2011 by Simon Beckerman, an Italian three-time entrepreneur, Depop arose from the observation that while peer-to-peer marketplaces existed successfully, they weremissing two important future ingredients: they werent optimised for mobile and they werent talking to the cool kids that went to vintage shops and spent their money onfashion, not just clothes. An overwhelming 90 per cent of its active users are under the age of 25. A hit among the Gen Z audience, Depop isthe perfect example of a brand successfully utilizing social media marketing. The more, the better, as it helps to increase the domain rating. Depop has become the selling platform of choice for many of them, with thousands of vintage and hand-made clothing/accessories shops existing on the app. University of Portsmouth. Jones isnt alone. Data is about that, he added. Top Depop sellers are even making six-figure incomes and building social media careers off of their success. Of course, this is most effective when your audience is interested in your personal style. If we take a look at their Ecommerce Marketing Stack, the main Email Marketing software (or ESP) they're using seems to be Braze (a customer engagement platform of which the main use case is multichannel marketing - they allow to manage cross-channel campaigns easily, much better than other platforms). At the R-VUE conference held in London in November 2019, the companys CTO Remo Gettini asserted, We use data for our business decisions but ultimately, the usage of data has to manifest into reaching the lifestyle of our customers. (Watch Remo Gettini talk at the R-VUE London conference here). We strive to stay connected to our community and what is relevant to them but also excite them with something new and unexpected. Errors and omissions accepted. By pushing Depops audience to the forefront, this trust is strengthened. The G2 Summer Report is here: Vue.ai receives seven badges. This was the time when social media and influencers werent as big as they are now. Send colleagues a link to this content. This is excellent - and hard to achieve, as it takes time, consistent SEO work and a solid SEO strategy. There are many different brands and styles of clothing available, so companies have to work hard to stand out from the crowd.The fashion industry is also affected by changes in fashion. Introduction. They have a very solid email marketing strategy - as their Average Spam score is very good since it's -3,9 (Spam score is a measure of how likely an email is to be considered spam by a spam filter. Simon Case, director of Chromatic Brands, has helped to launch the secondhand app Onro. Having founded a magazine back in 1998, PIG (People in Groove), which spoke to this community, Beckerman created Depop to let its readers buy the items in the title. Los Angeles Depop store on Sunset Boulevard. Demonstrating how the app can be incorporated into our everyday lives, is the third element to its strategy Blanchard explains, and then finally marketing that normalizes buying secondhand in general. "We reach Gen Z by representing Gen Z. Until eventually, she became a viral success. These stores also serve as a space for physical meet-ups, where top sellers conduct workshops and exchange ideas with other sellers. The wider fashion industrys adoption of secondhand is the categorys second phase. Receiving stickers, candy, or a handwritten thank you note with a purchase from a Depop seller is standard. In June 2019, the London-based startup closed a series C round that brought in $62 million of funding (it has not disclosed its valuation). Personalize eCommerce experiences for every shopper, Reduce and recover abandoned carts with A.I. Sell a few items or build your empire. They inspire and educate our community. These are: evenings between 7 and 10 pm, weekends, payday and student loan drops. Sign-up to the Depop Masterclass Mentorship Program. Its like a shop window on your phone.. Make sure your keywords are relevant to drive traffic, whilst also considering the buyer and how you should communicate with them. When they directed customers back to their online stores via QR codes, they saw an average increase of 77% in sales. Depop is essentially the epitome of Gen Z consumerism. Depopulation and repopulation (depop-repop) have long been recognized as a successful and reliable means to eradicate disease. There are now over 21 million depop users, with 80% of users coming from the target Gen Z market. For their 10+ million users, they boast a consistently hand-curated explore page and are embarking on the brick and mortar retail world. Rodrigos case in particular is a perfect example of an organic relationship between a business and a celebrity. Millennials were the generation that fell in love with a strong founder story (Steve Jobs, anyone?). E-commerce firm Etsy announced Wednesday that it is buying the secondhand fashion app Depop for $1.62 billion. According to a 2018 study by Juniper Research, spending by retailers on artificial intelligence tools will grow almost fourfold between 2018 and 2022, reaching $7.3 billion per annum up from an estimated $2 billion in 2018. For the event, she did a set design that attendees were able to shoot photos in. The Depop app utilizes social media as the backbone of its marketing campaigns. Why? Etsy to acquire global fashion resale marketplace Depop Even more striking is Depops deep penetration within one particular demographic - 90% of its 18 million users are under 25. Another brand working hand in hand with Depop recently is Samsung Galaxy. It is also visible in its future plans. The platform is very similar to other online marketplaces like eBay, Facebook Marketplace, Mercari, or Poshmark. Depop uses the data to create the customer experience. Depops rule of thumb when it comes to social strategy is that if a decision has to move through three or more people, there are too many people involved. We use cookies to ensure you get the best experience on our website. The total number of domain who have a link to . website. We sold 36,000 items through them, they recalled, it was the perfect platform to sell clothes and create a community the community was already there., Although Depop started out as an app, Oskar told us that significant brand growth is often the result of on and offline activations used together. Videos Masterclass Events. The barrier to entry is incredibly low, the selling fee is reasonable (10% as of now), the sign-up process is simple and payment is processed through PayPal, a platform that is widely used by millennials and Gen Z. Copyright 2023 Centaur Media plc and / or its subsidiaries and licensors. Its an ideal platform to start out, but how can you stand out? They dont talk about click to shop or browsing! Clothes, being part of the Fashion industry, reflects an individuals culture, personality, and preferences. It was a clever strategic move because it a) convinced hesitant participants because there was less stigma around children's hand-me-downs and b . By 2022, the research found that retailers will be investing in AI tools to improve everything from customer service to sentiment analytics, automated marketing and demand forecasting. Once described as part Instagram, part eBay, Depop has gone on to become a big name in its own right, carving out a niche within fashion recommerce. Millennials had proliferated the internet with their pink Instagram walls, avocado toasts, and unironic memeing. Now that the listing is up, its time to promote. One interesting note as well, about their whole domain reputation and SEO - their Authority Domain Ranking is 82 on https://www . Once described as 'part Instagram, part eBay', Depop has gone on to become a big name in its own right, carving out a niche within fashion recommerce. Generation Depop: Who They Are and How to Market to Them - Venture Stream Depop Limited Company Profile, Financial and Strategic SWOT Analysis Focusing on the attempt to get pro photos for your profile, Samsung Galaxys high-tech camera is a no-brainer. Losing Depop to US ownership makes the British tech sector look This, combined with a $62 million boost in funding, marks a seminal year for the company. Many brands who are branching out on Depop can feel a bit daunted when using an app, but Oskar announced that they have just released an online function to list their items. Example: To help reach more customers, a small business sells its socks to a department store. Courtesy Image. Join to connect Depop. Each user curates a collection straight out of their own wardrobe. What Is Depop? Everything You Need to Know About the Resale App This newsletter will break down all of the biggest news in entertainment and in marketing. If youre already on Depop but arent ready to take the leap yet, Oskar also told us about their Level Up Program and Mentorships. According to Depop, it imposes the fee "to keep the app up and running, with . Heres how the app drawns millions of young people by word of mouth. Learnings from the brands that stand out. As time went by, this idea of creating a digital replica of the magazine transformed into an e-commerce market designed as a social network platform. To continue reading this content and gain access to more than 30,000 exclusive pieces of data, research, reports and articles, you need to subscribe. This partnership proved to be successful for both Rodrigo and the app, with her items selling out in record time and lots of traction being drawn toward the app. Already have a subscription? Depop | PDF | Social Media | Popular Culture & Media Studies Depop aims to use the $62 million funds not only for physical and digital expansion but also to grow its engineering and data science teams. Having multiple revenue streams is key, Oskar reiterated, users can promote their brand across platforms. The Lucy & Yak team echoed this, having opened several pop-up stores to elevate their online presence: Through our first long term pop-up, we were able to test out the market and bring the brand to life. Depop marketing strategist Yoann Pavvy points out that people tend to trust one another, especially among the younger generation. not considered as spam. Buyers and sellers can 'like' items, message each other . How to sell. In recent years the app has grown its revenue by 100% YoY, predominantly driven by the organic expansion of its user base. If you're anything like me, you love thrift shopping, but you don't love having to spend hours upon hours in a store trying to find the perfect look. Turn these new users into buyers by marketing and community building efforts. Photos are the heartbeat of Depop, Oskar told us, its a great way to show off your brand identity. Jan 2010 - Oct 20144 years 10 months. All rights reserved. "It's just like Instagram and eBay together," says Yoann Pavy, head of digital marketing at the startup, "and the kids love it and . Here, as it's 18 characters, they're doing good - they even have room to add some characters and their open rate will remain good! Social Influencers, I designed it to be a social network because I saw that this was something that was coming up It was more or less a social interactive way to buy and sell.. He explains that in a market dominated by generalists like eBay and Facebook Marketplace, Vinted and Depop have been smart in identifying a niche and just going out for it.. Over the last seven years, the company has raised over $100 million the latest being series C funding round of $62 million led by General Atlantic in June 2019. The Depop community is chock full of diverse and stylized users. Amongst their last emails sent, two of them were 'Let's do this' and 'What everyone wants right now'.