The name - Depop.
If you are a Millenial or older, chances are you may not have heard of this fast-growing global marketplace created around two main concepts:
- Social interaction
Whereas most businesses prefer to use a proprietary eCommerce platform and engage in social media marketing to drive sales through an online website or app, Depop envisioned a community that is both at the same time.
A place where your friends and followers can view your items, both bought and sold. A platform where social influencers can promote directly on the app.
Not everything sold on Depop is first-hand. It is an enormous platform for second-hand clothes, which is why it is so popular among those conscientious about both fashion and climate change.
The result is an influx of gen-z business owners. A new generation of online fashion led by eCommerce business owners with an emphasis on eco-friendly business - saving the world one pair of second-hand jeans at a time.
But is it the future of eco-friendly business?
The good, the bad, and the second-hand
On the surface, this is a groundbreaking new tack of social media marketing - it essentially does away with any form of social media integration, and maintains all the benefits of an app in one single place.
The businesses run on both a desire to make money, and to maintain sustainability - an approach that markets itself perfectly to consumers, because all consumers desire to feel GOOD about spoiling themselves, and being eco-friendly encourages that feeling.
It is also inspiring new generations of young entrepreneurs and businesses to launch their own brands out into the public eye, offering a stepping-stone to greater business expansion.
If the success of Depop continues, it could be an inspiration for eCommerce startups everywhere. An example of a business not compromising morality for financial success, and laying the groundwork for the future of the eCommerce fashion industry.
There are unfavourable reviews of the new fashion startup online. Ones that cast a cold light on certain aspects of its business.
Many are from unsatisfied customers. The ones who receive damaged and spoiled goods. Those individuals who receive products nothing like those specified orders that they so painstakingly chose.
Other complaints are from sellers. Ones who are providing official merchandise, with proof of authenticity yet who are failing to become verified and are labelled as counterfeiters. They claim that Depop support is impossible to contact and that they are met with automated emails the majority of the time.
If these mixed claims are based on truth - Depop has issues to fix, BUT none of the issues are focused around the business model.
This is a relief to similar startups looking to set up ethical business practices for the fashion industry's future. While Depop may still have a great deal to learn when it comes to customer service, their ideas have struck a chord. They resonate with customers around the world and look set to become a roaring success albeit once they tweak their service management.
One thing is for certain. Consumers love ethics. This is a fantastic inspiration for the future, and failure or not, Depop has paved the way for a new generation of eCommerce business owners.
The next step for any SME looking to follow in their footsteps is to ensure that their finances are up-to-date. Here at Accountancy Cloud, we offer comprehensive financial services for small and medium businesses to scale up and grow as quickly as possible.
Whether it's bookkeeping services or advanced CFO tools, we have got you covered. Learn how to optimise your workflow with sophisticated automation, and focus on what really matters - building your empire.
Working with us takes away the stress of finance, so you can really focus on your goal. Who knows, with our help - maybe you’ll succeed where Depop is struggling?
The choice is yours, so get in touch with us today to prepare your business’ future!
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