A MAJOR second-hand selling marketplace has made a huge change to fees leaving customers overjoyed.
Depop is fully removing its 10% selling fee for users based in the UK.
1
Sellers listing items on the platform will receive more money in their pocket from each sale from March 20 onwards with the removal of the 10% selling fee for new listings.
This change will be communicated to UK users this week as part of a wider update to the firm’s fee structure.
To fund the axed fee cut, Depop will introduce a small marketplace fee for buyers in the UK from April 15, 2024.
The marketplace fee will be up to 5% of the item purchase price, plus a fixed amount of up to £1, excluding taxes and postage costs.
Read more in money
The usual Depop payment processing fee will continue to apply.
Kruti Patel Goyal, chief executive of Depop, said: “Our mission is to make fashion circular – we want to encourage as many people as possible to choose secondhand instead of new.
“For years, the Depop community has been championing preloved and vintage fashion and pioneering change in the fashion industry. With more and more people now looking at resale as an alternative to retail, we want to amplify the impact of our growing community by continually finding ways to make it easier to participate in the circular economy.
“This change will give sellers more cash in their pocket from each sale, empowering our existing community – as well as those new to resale – to list more, sell more and earn more while contributing to a more circular fashion system.
Most read in Money
“More listings means more choice for UK buyers at a greater range of price points; enabling them to find the items they love, on budget.”
The online marketplace hit the headlines last October when it axed PayPal as a payment method on its app, leaving buyers and sellers alike fuming.
I quit my job in a pub to sell clothes on Depop full time and make £50k in three months – my top six tips to make profit
It come as Depop made the move to transition to its own payment method – Depop Payments.
PayPal became unavailable on October 23, 2023.
Depop Payments hit all app users across both the UK and the US.
How to compare prices to get the best deal
JUST because something is on offer, or is part of a sale, it doesn’t mean it’s always a good deal.
There are plenty of comparison websites out there that’ll check prices for you – so don’t be left paying more than you have to.
Most of them work by comparing the prices across hundreds of retailers.
Here are some that we recommend:
- Google Shopping is a tool that lets users search for and compare prices for products across the web. Simply type in keywords, or a product number, to bring up search results.
- Price Spy logs the history of how much something costs from over 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 it in stock.
- Idealo is another website that lets you compare prices between retailers. All shoppers need to do is search for the item they need and the website will rank them from the cheapest to the most expensive one.
- CamelCamelCamel only works on goods being sold on Amazon. To use it, type in 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 when looking to sell your clothes online.
These include the likes of Vinted, eBay and Etsy.
Some platforms charge sellers a fee or take commission that can eat into profits.
On Etsy, there is a 16p listing fee, 6.5 % transaction fee, 4% + 20p payment processing fee to take into account.
You can list up to 1,000 items a month on eBay for free.
You’ll pay a commission of 12.8% on what you sell, plus a 30p fee.
READ MORE SUN STORIES
Facebook Marketplace is an easy way to sell to local buyers using your Facebook account.
Most users are looking for a bargain, so you might not get a high price, but it’s fairly hassle-free and you don’t pay commission or listing fees.
