Back
~
2
min read
· Posted on
February 21, 2024

Etsy is De-popping bottles after $2bn acquisition

Etsy still cool... here's why this acquisition makes sense

What's the key learning?

  • The second hand fashion market is on the rise
  • The industry is expected to grow 39% annually for the next 5 years
  • Younger consumers are prioritising sustainability and are concerned about fashions global footprint

THAT'S A HELLA BIG PURCHASE

Etsy, the old-school e-commerce retailer, is buying hip peer-to-peer social shopping app Depop for around $2B AUD.

Ety and Depop have totally different customers.

Etsy's audience skews towards older customers with craft goods and vintage items.

Depop (pronounced: Dee-pop) is a secondhand marketplace for a new generation of social media users. Most of the clothes are trendsetting and its consumers are fashion conscious.

Depop has 30 million users - and 90% of them are under the age of 26. This is exactly why the old-timer Etsy, has pulled out its cheque book.

So, what's the key learning?

Macklemore was a pioneer - because secondhand fashion or thrift shopping is BLOWING UP right now.

The global pre owned clothing market is expected to grow 39% annually for the next five years (How do you feel about that fast-fashion?).

There is a groundswell of interest amongst young consumers who are prioritising sustainability and concerned about fashion's impact on the environment.

Ready to win at money?

Sign up for Flux and join 100,000 members of the Flux family

A button to App StoreGoogle Play store button
Excellent  4.9 out of 5
Star rating