why is depop charging me more than 10

I have noticed this on all of my depop transactions. Etsy charges a 5% transaction fee on the total sale price, which includes the cost of the item, shipping costs, and tax. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you. I am a relatively new seller on Depop, but I have sold at least 11 items in the past 3 months. In terms of the percentage that Etsy takes from its sellers, it largely depends on the type of service they use. More than 90% of Depop's 30 million users are under 26 (Etsy average age is 39) and it is the 10th most visited site in the US. Its easy to get started just create an account to start selling. You should also take into account any fees or charges on Depop when setting your prices. I have printed out the postage labels then a message from PayPal popped saying "you'll get your money . Moreover, PayPal claims consumers "who choose PayPal as a payment method are 60% more likely to convert than consumers who do not choose PayPal as a payment method." Your email address will not be published. Why are youngsters choosing the Instagram-like Depop? For example, if you have an established relationship with a specific shipping carrier, you may be able to negotiate better rates than what Depop is offering. As thrifting and more sustainable fashion has become more popular among young people, Depop became the place to go and find great secondhand styles. I am a relatively new seller on Depop, but I have sold at least 11 items in the past 3 months. A sub for discussing all things Depop. However, its important to note that fees are a necessary cost to maintain a secure and reliable platform for buying and selling goods. Facts to Know, How to Do Bubble Braids? I sold a bundle. Therefore, PayPal is a market leader, but it doesn't have unlimited pricing power. Uniqlo Return Policy 2023: What You Need to Know, How to Wash Zara Leather Pants? Depop is more than a marketplace. To determine the potential profit from each sold item is the main objective of this. 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. It expects its revenue and adjusted earnings to grow 20% and 21%, respectively, this year, and for its active accounts to climb to 430 million. And what is depop limited? I find the fee a fair price to pay to resell something like a ruby red, ribbed-knit top I originally bought for $25. For example, if using a shipping service that requires extra insurance or expedited delivery, additional charges may be applied. The platform charges a 10% flat-rate fee (PDF) on all items soldI like that its straightforward and that its a small percentage compared with other options. These three competitors also have unique strengths. Starting on Aug. 2, the rate for each online PayPal or Venmo transaction will rise to 3.49% plus $0.49 -- compared to its current rate of 2.9% plus $0.30 for most online transactions. I received only a few bids per item, and I sold them for less than they were worth. It focuses on music, fashion, art mental health, and sustainability, Short said. Its already made headway in the U.S., now home to 38% of its users. Now Poshmark might be the perfect place to sell your mainstream staples from Zara or Gap, TheRealReal has your love of designer labels covered, and ThredUp reaches both ends with brands like J.Crew and Kate Spade being sold. However, Etsy charges a lower payment processing fee compared to Depop. Depop is a popular online marketplace that is largely focused on selling or buying second-hand clothing and unique items. We realized we had a lot of events and a very active community who were already doing multiple meetups. . If you had to start over from scratch on your own, you would have to work at all of these essential things. Fee refunds for returns made using Depop Payments are processed automatically. Learn more. Another important factor to consider is the pricing of the items. I recently sold some items on Depop but I've been noticing that when Depop charges me for their commission its usually around 30-50% of the price of the item sold?? Sydny Sky, Depop seller, phone interview, October 28, 2020. Additionally, if youre purchasing an item on Depop, the seller may have included shipping fees which could increase the total cost. Its always been important, says Raga of sustainability. 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. Start a conversation with sellers by. Why did Depop charge me more than 10? Brands that want to be cool are opening shops on Depop. She also grew the business on Instagram, where she has 50,000 followers. Incentivizing your potential customers with free shipping may seem like a simple and effective way to get them to buy, but shipping heavy (and costly) items like shoes could eat into your profit more than you anticipated. We would like to show you a description here but the site won't allow us. Very confused and no longer wanting to sell my things on this site. Amazon first Pinterest third-party ad partner, New eBay Certified by Brand expands luxury offering, Avalara eBay.com cross-border compliance solutions. To transfer funds to your bank using PayPal, you must wait for them to clear for about two weeks. Its important to understand the fees associated with using the platform as well as any additional charges that may apply to your payment method to avoid any surprises when it comes to payment. The Motley Fool has a disclosure policy. Today 80% of Depop users are under 25-years-old, its users sold $230 million of clothing last year, and are on track to double that to $460 million in 2018. Makes zero sense why did they take out so much?? PayPal (PYPL 2.33%) just announced that it will raise its processing fees for U.S. merchants. In the UK as well as the US, Depop fees are 10% of the selling price (which includes the cost of the item and any associated shipping costs). Etsy is an online marketplace that provides a platform for creative entrepreneurs and artisans to sell their unique and handmade products. Its important to check the item listing and shipping fees before making a purchase to avoid any surprises when it comes to payment. When creating listings, sellers should keep the fees in mind, and price their products accordingly to ensure they can sustain their business and grow. On the other hand, Etsy has a slightly higher fee structure compared to Depop. Want to Shop More Sustainably? Fast responses, quick shipping, and a few good reviews can seriously boost your credibility as a seller. Cookies help us customize the PayPal Community for you, and some are necessary to make our site work. CREDIT: AP. It has the in-built dopamine hit that social media natives have grown up with, and doubled its revenue to $70million in 2020. First, Depop provides a range of marketing tools and services to help sellers increase their sales and revenue. We then have to be more interesting for the next group of people we want to cultivate, he said. When you buy through our links, we may earn a commission. Sellers like Bella McFadden, who resold clothing from thrift stores on Depop and now runs a stand-alone company and a YouTube channel, became social media influencers and tastemakers in their own right. Now imagine they introduce their other teenage cousin who is a genius on socials and casually refers to the 90s and noughties as vintage thats Depop. If you want to take that risk, we have a few tips on how to avoid getting scammed. By selling on Depop you're keeping items in the circular economy and helping reduce fashion waste. The fees are relatively low and transparent, making it easy for sellers to manage their expenses and maximize their profits. Ultimate Guide, 15 Urban Outfitters Alternative: Complete List 2023, Tania Speaks Eyebrow Gel Reviews 2023 (With Pros & Cons), How to Even Skin Tone on Face? PayPal's stock rallied after the announcement, and several analysts lauded the decision as a sign of its pricing power. You have successfully updated the shipping information. It was too good an opportunity to pass up. Decide your price. It is important for sellers to keep in mind the commission that Depop takes when pricing their items on the platform. For one, it can be a more convenient option as it eliminates the need for sellers to calculate shipping costs and manually create labels. Depop is seen as pricey. Many eBay and Amazon marketplace sellers have avoided Depop, which isnt a bad strategy since the criteria are extremely high to become a top rated seller, on top of which, the aesthetics that do well are those of creative, young, impactful fashion which stands out because it cant be faked or mass produced. Ms. Tang said Depops popularity led her to make the same items again and again, restricting her creatively. Its revenue more than doubled to $70 million in 2020 from a year earlier. +(91)-9821210096 | a streetcar named desire genre. Depop makes money by charging a small fee called a transaction fee to cover processing payments. So do you know, We found 15 urban outfitters alternatives that are just as edgy, fun, cool, and most importantly, way kinder to the, Your email address will not be published. Depop. You can buy these services either as a bundle or on an la carte basis. Its revenue and adjusted earnings rose 21% and 31%, respectively, in 2020as merchants and consumers used more digital payments throughout the pandemic. This percentage is deducted from each sale, meaning that if you sell an item for $100, $10 will be deducted as a fee by Depop, and you will receive $90 as the final sale amount. Your credit card, bank account, or Paypal information are not accessible to Depop, and the company is unable to ever collect any payments from you without your permission. While 90 percent of her sales come from Depop, her Instagram feed is livelier. Whether its finding great products or discovering helpful advice, well help you get it right (the first time). Small volume sellers may prefer Depops lower commission fee, while larger volume sellers may prefer Etsys lower payment processing fee. It takes time to build up a following. But on Instagram, she said, she could share more personal moments from her life through features like Stories which people use to post photos and videos that disappear after 24 hours so people get a feel of who I am and who theyre buying from.. With features like social media integration, shopping cart features, and custom product bundles, sellers can quickly reach a larger audience and boost their sales potential. This article is more than 5 years old. Scan this QR code to download the app now. They dont charge listing fees (like Etsy, for instance) or monthly fees, but they do when you sell the item. Let us help you. And she was tired of the app charging a 10 percent commission on every item sold. This means that if you sell an item for $100 and charge $10 for shipping, Depop would take a $11 commission from the total sale price, leaving you with $89 as the seller. Nov-05-2019 02:48 AM. after it offered me to print the labels (in order to speed up the process of money release), it's still going to be 21 days from the day of purchase? Required fields are marked *. There's also an option to provide tracking, but I only sent them with 1st class (no tracking info available). Additionally, Depop shipping can offer discounted shipping rates, since the platform has negotiated rates with shipping carriers. Your anticipated profit will be the final result. 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. Ship. Etsy charges a $0.20 listing fee for every item listed on their platform, and a 5% transaction fee on every sale made. It is also important to factor in the cost of shipping and any other expenses related to fulfilling the order, such as packaging and handling fees, to ensure that they are making a profit on each sale. Make sure your clothing is the focal point of the picture by keeping the . Depop sellers show off their own trademark styles. If the seller chooses to list a separate shipping fee, it is up to the buyer to cover this cost. Vintage clothing has a unique appeal to buyers due to its uniqueness and history, making it a popular choice for fashion-conscious individuals. A stylist who was out of work at the beginning of the pandemic, she began her eponymous business on Depop in March 2020 and amassed 36,000 followers. 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. Not only does Depop have this green ethos at its core, something that Raga observes is more important for new generations than older generations, but its wrapped up in bold punky f*ck it branding. Overall, operating on Etsy is an affordable way for small business owners to sell their products, with the transaction and payment processing fees being relatively low. - it has been 5 days since both buyers have received their goods and they've even left 5* feedback on my Depop page.. the money though is still on hold! Yesterday, the DIY-friendly e-commerce . As a general rule, its best to offer free shipping promotions on lightweight items like dresses or shirts but to avoid it on heavier things such as shoes or winter coats. Both platforms offer unique features and benefits to sellers and buyers, but when it comes to pricing, its important to understand how each platform charges for their services. Thank you for your advise. (He is no longer involved with the app.) This year, Ms. Tang began focusing on selling her clothing brand exclusively through her website. She recommends following the same format for each listing: Write your description first and include as many keywords as possible. In contrast to the past, when the majority of transactions were made through PayPal, they began to offer their own payment processor in 2019. Apart from vintage clothing and limited-edition or exclusive products, trendy items also sell quickly on Depop. Popular accounts and groups include those for Lululemon, Louis Vuitton, and Noihsaf Bazaar, the last of which mostly lists clothes from independent designers. Apple Pay's number of activated users rose from 441 million to 507 million between September 2019 and September 2020, according to Loup Ventures. Depending on the situation, either the buyer or seller may be responsible for covering the shipping cost, or both parties may contribute a portion of the shipping fee. When it comes to shipping on Depop, the responsibility of payment is typically shared by both the buyer and seller. Some are now taking their success elsewhere. Depop also functions much like a cross between a marketplace and a social media site. So I want to know if not '1 day after delivery' then, when is PayPal going to release my funds??? ***UPDATE** SWIPE FOR ANSWER!! Interestingly one of the keys to Depops strategy seems to be IRL events and attaching themselves to branded stores (of course the coolest ones!). stawwwwppp I want it, the friend replied. However . How much does a JCPenney photo session cost?

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