We love scouring the internet in search of interesting pieces to add to our wardrobes, be it clothes or accessories. And Etsy is one of our go-to online platforms to find unique items. Certainly, we are not the only ones to love the famous site for handicrafts and handmade goods. In fact, Etsy is so successful that it has just spent $ 1.6 billion acquiring the second-hand fashion e-commerce Depop. But what’s behind Etsy’s huge success?
What can you buy at Etsy?
Founded in 2005, Etsy is a global online marketplace specialized in creative hand-made and vintage goods. The huge site aims to connect independent artisans, collectors and sellers to customers. You can find a wide variety of items on Etsy, including jewellery, bags, clothing, home décor. We have already bought some fantastic vintage jewellery, artisanal and folkloric clothes, and shoes.
We’re a community pushing for positive change for small businesses, people, and the planet.Etsy mission statement
Millions of creators sell their handcrafted pieces and vintage treasures on this huge shopping platform, which can be a bit overwhelming. Nevertheless, knowing where to look, you can buy unique gifts and one-of-a-kind items from all over the world.
What is Depop?
Depop is Gen Z’s favourite shopping platform for second-hand fashion, with over 30 million registered users across 150 countries. Compared to Etsy, Depop looks more like a social network, and sellers promote their brands on TikTok, Instagram and Youtube.
Depop is a community-powered fashion ecosystem that’s kinder on the planet and kinder to people.Depop mission statement
Why did Etsy buy Depop?
The trend of vintage and second-hand fashion resale has grown in recent years, especially during the pandemic and among younger consumers who want a more sustainable fashion. So, by purchasing Depop, Etsy is targeting younger consumers. Additionally, the second-hand market is expected to continue growing.
The rise of secondhand fashion
The purchase of Depop by Etsy is not surprising. The world’s interest in sustainability and slow fashion has fueled the second-hand fashion and vintage market growth. Clothing resale is becoming so important that Kering, the company that owns luxury fashion brands like Yves Saint Laurent, Gucci and Bottega Veneta, invested recently in Vestiaire Collective. In the same vein, the online fashion retailer Farfetch introduced a pre-owned section on its platform.
To help you navigate the online shopping platforms, check our Fashionista Dictionary from A to Z.
Photo via Shutterstock.