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· Posted on
July 1, 2021

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.

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