Depop, the popular second-hand fashion marketplace, announced a significant change to its fee structure for UK-based sellers in 2024. In a move designed to encourage more people to participate in the circular economy, Depop has completely removed its 10% selling fee for all new listings created by UK users from this date onwards.
This means that sellers in the UK will now be able to keep more of their profits from each sale, potentially opening up the platform to a wider range of items at various price points. In a release, Kruti Patel Goyal, Depop’s CEO, said: “Our mission is to make fashion circular - we want to encourage as many people as possible to choose second-hand instead of new.”
In a statement on Depop website the new policy states, "We've removed the Depop selling fee (10% of total sale price) from 20 March 2024 for all newly listed items. This means sellers keep more profit from every sale and now have the freedom to sell a wider range of items on Depop, regardless of price." Instead, "We're introducing a small fee for UK buyers on every purchase which will apply from 15 April, 2024. This fee will help us to continually invest in Depop Protection, customer support, platform improvements and growing our community."
However, to support this initiative and continue investing in platform improvements, customer support, and seller protection, Depop will introduce a small marketplace fee for buyers in the UK starting from April 15th, 2024. This fee will be up to 5% of the item's purchase price, plus a fixed amount of up to £1, excluding taxes and postage costs.
It's important to note that while the 10% selling fee has been removed, Depop will still charge a payment processing fee of 2.9% of the total transaction amount, plus 30p, for sales made through its integrated Depop Payments system. This fee remains unchanged and will be automatically deducted from the seller's earnings before they are paid out.
Overall, this change in Depop's fee structure aims to empower sellers, attract new users, and contribute to a more sustainable and circular fashion ecosystem in the UK.
