Second-hand sales site with 2 million UK users is making major changes to its rates
A MAJOR second-hand sales marketplace has seen a huge change in rates, leaving customers thrilled.
Depop is completely eliminating the 10% sales fee for users in the UK.
Sellers who list items on the platform will get more money in their pockets with every sale starting March 20, as the 10% sales fee for new listings will be eliminated.
This change will be communicated to UK users this week as part of a wider update to the company’s fee structure.
To fund the reduction in fixed fees, Depop is introducing a small marketplace fee for UK buyers from April 15, 2024.
The marketplace fee is a maximum of 5% of the purchase price of the item, plus a flat fee of up to €1, excluding taxes and shipping costs.
The usual Depop payment processing fees still apply.
Kruti Patel Goyal, CEO of Depop, said: “Our mission is to make fashion circular – we want to encourage as many people as possible to choose second-hand over new.
“The Depop community has been championing second-hand and vintage fashion for years and pioneering changes in the fashion industry. As more and more people see resale as an alternative to retail, we want to increase the impact of our growing community by continually finding ways to make it easier to participate in the circular economy.
“This change will ensure that sellers get more money in their pockets with every sale, allowing our existing community – as well as those new to reselling – to list more, sell more and earn more, while contributing to a more circular fashion system.
“More offers mean more choice for UK shoppers at a wider price range; helping them find the items they love, within budget.”
The online marketplace made headlines last October when it dropped PayPal as a payment method on its app, leaving both buyers and sellers furious.
It came when Depop switched to its own payment method: Depop Payments.
PayPal became unavailable on October 23, 2023.
Depop Payments reached all app users in both the UK and US.
How to compare prices to get the best deal
JUST because something is on sale or is part of a sale, it doesn’t mean it’s always a good deal.
There are plenty of comparison websites that will check prices for you, so don’t pay more than you have to.
Most of them work by comparing prices from hundreds of retailers.
Here are some we recommend:
- Google Shopping is a tool that allows users to search for products and compare prices on the Internet. Simply enter keywords or a product number to display search results.
- Praise spy records the history of how much something costs at more than 3,000 different retailers, including Argos, Amazon, eBay and the supermarkets. Once you select an individual product, you can quickly compare which stores have the best price and which have them in stock.
- Ideal is another website that allows you to compare prices between retailers. All shoppers have to do is search for the item they need and the website will rank them from cheapest to most expensive.
- CamelCamelCamel Only works on goods sold on Amazon. To use it, enter the URL of the product you want to check the price of.
How do other online marketplace apps compare?
There are several other online marketplaces to consider if you want to sell your clothes online.
These include Vinted, eBay and Etsy.
Some platforms charge sellers a fee or take a commission that can eat into profits.
On Etsy, you’ll need to factor in a 16 cent listing fee, 6.5% transaction fee, 4% + 20 cent payment processing fee.
You can list up to 1,000 items per month for free on eBay.
You pay a 12.8% commission on what you sell, plus a 30 cent fee.
Facebook Marketplace is an easy way to sell to local buyers using your Facebook account.
Most users are looking for a bargain, so you may not get a high price, but it’s fairly hassle-free and you won’t pay any commissions or advertising fees.