This is an episode of the Glossy Fashion Podcast, which features candid conversations about how today’s trends are shaping the future of the fashion industry. More from the series →
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With “it” girls including Sabrina Carpenter recently sporting Depop finds to major events, the peer-to-peer resale e-tailer is decidedly having a moment — but its growth hasn’t been sudden. According to the 13-year-old company, which was acquired by Etsy in 2021, its registered user base grew 17% to 35 million in 2023. The year prior, Kruti Patel Goyal joined the company as CEO, moving over from its parent company.
“I spent over 11 years of my career at Etsy. I started in 2011 when the company was much smaller and private. And over the years, I worked my way around and through the business. … I got to learn the marketplace inside and out,” Patel Goyal said on the Glossy Podcast. “About a year and a half after the acquisition, I was asked to come over and run Depop after the former CEO decided to step down. Looking back, it makes sense why my background was such a good fit for Depop.”
Along with Patel Goyal’s expertise, Depop has recently benefited from Gen Z’s conscientious shopping habits.
“This current young generation cares more than any generation before them about the impact of their choices on the world around them,” Patel Goyal said. “That’s a big factor in what’s driving resale.”
Also on the podcast, Patel Goyal discussed Depop’s valuable Gen-Z shopper base and strong community, and its plan to continue to stand out as resale booms. Excerpts from the conversation, below, have been lightly edited for clarity.
Winning the Gen-Z resale shopper
“I really do think that it’s this value proposition — style, sustainability and value — that resonates [with Gen Z]. But I think the second part of it is that we’re a peer-to-peer marketplace. And at their core, these marketplaces get better as they get bigger. So the more great supply that you attract, the more that attracts buyers, and then that creates a signal to sellers, and vice versa. We’ve really struck a chord with an audience by providing them with something they’re not getting anywhere else. And then that’s really feeding on itself and creating that virtuous cycle or driving the flywheel of the marketplace.”
Fostering community
“We partnered with Hypebeast on an event they have in Brooklyn called Hypebeast Flea, and we brought several Depop sellers to sell in person in that marketplace. It’s a really exciting way for us to bring our community to life in real life — for people to be able to see and touch and feel in person what they currently mostly experience through a digital medium. That always enhances the experience and understanding, and that feeling of connection and being part of a broader community that is all connected and committed to this mission of making fashion circular. We are always looking for great opportunities to bring the brand to life. In the U.K. last year, we had this really cool partnership, where we had pop-up shop locations where sellers would come and sell in those pop-up shops in high streets in London. … Community connection is really important and a big part of what draws people and keeps them engaged and excited about being on Depop.”
The opportunity ahead
“As we think about how we continue to innovate and stand out [in the resale landscape], we’re really focused on doing three things with great intention. … The first is making the core marketplace work really, really well. And that means making both buying and selling increasingly simple and seamless. … So we’re certainly leveraging machine learning and AI on both sides of the marketplace. We’ve made a ton of improvements to search over the last year — we’ve done research that shows buyers are 40-50% more likely to find what they’re looking for through search based on the improvements we’ve made. We’re also making recommendations a lot better. … The second thing that we are focused on is leaning into the things that really differentiate Depop: People have always come to Depop for more than just the transaction. They’re coming for inspiration and for connection. And so that means we really need to continue to invest in bringing that personalized experience that reflects your tastes, but also brings the insights and trends from the entire community back to you throughout the touchpoints in our experience. And then the third thing is about bringing Depop to more and more people — reaching a bigger and broader audience in more places.”
