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Twisting Lux Brands + Depop + Gen Z in your favor! 🤑🛍️👠👟
Part One is all about What We Know in our two-part trend report.
WELCOME to $5.vc, your source of differentiated startup intel!
* We break down the new market indicators & behavioral consumer trends we're tracking, then figure out the unlock to growth & revenue.
ICYMI in the last 10 weeks we covered:
THIS WEEK’S DOPE NEW STARTUP IDEA COVERS:
* Lux Brands + Depop + Gen Z 🔥
WHAT WE KNOW:
* The Market Indicators & Behavioral Consumer Trends we've identified.
>> [ Ecom is all about shoppable video now! ]
- thanks kendra! https://twitter.com/KendraEClark
Samsung Galaxy today announced a new partnership with popular fashion resell platform Depop. The union aims to help sellers on the peer-to-peer social app optimize their impact among Gen Z users looking to enhance their unique looks and sell more effectively.
“In the evolution of commerce post-pandemic, shoppable video will become more integrated into mobile-first experiences,” Samsung's statement asserts that 96% of shoppers rely on product videos when making a buying decision.
“Samsung bringing video to the Depop platform is one example of how shoppable video can come to life on social."
>> [ Depop is a Top 10 Gen Z shopping beast! ]
- thanks nav! https://twitter.com/roboticlove
Depop, the peer-to-peer marketplace founded a decade ago in 2011, has millions of active users across the globe and over 90% of those are part of the Gen-Z demographic.
Depop has emerged as the tenth most visited shopping site among Gen-Z consumers in the U.S., so it seems only fitting that it’s harnessed an unparalleled level of insight into its key demographic.
Entrepreneurship goes hand in hand with extreme Depoping, and as part of the side-hustle generation, Gen-Z knows how to make money through the marketplace.
Whether you’re a casual seller looking to shift your now unloved clothes, a sneaker reseller after a quick buck, or an independent designer launching your own brand to the masses, Depop provides an easy-to-use platform for you to do just that.
>> [ Depop’s 30 million Gen Z base spans 150 countries! ]
- thanks elizabeth! https://twitter.com/LizziePaton
Depop, the fashion resale marketplace beloved by Generation Z, will be acquired by Etsy for $1.6 billion, the two companies announced on Wednesday.
Ninety percent of its users are under 26, with 30 million users across 150 countries. The platform is particularly known for its vintage clothes and streetwear — and for creating a new cohort of online influencers famous for selling their wares.
>> [ Olivia Rodrigo goes all in on Depop! ]
- thanks hypebae! https://twitter.com/hypebae
After the release of her chart-topping debut album SOUR, rising star Olivia Rodrigo has now launched an exclusive Depop store, dubbed the “SOUR shop,” where fans can purchase clothing and accessories featured in some of her music videos, such as “good 4 u,” “driver’s license” and “deja vu.”
In true Gen Z fashion, Olivia herself loves shopping on Depop and wears items from her favorite sellers in several music videos. The collection will include pieces such as a pair of retro black sunglasses, gothcore 2” creeper platforms, as well as fluffy pink boas and silk headscarves.
>> [ Vans jumps onto the Depop collab train! ]
- thanks sneaker news! https://twitter.com/sneakernews
Fresh off collections with fellow stateside collaborators Stray Rats and The Simpsons, Vans has traveled across the pond to tap UK-based marketplace Depop for the first time. The outcome? A six-piece capsule designed by four inspiring creatives from Depop’s community.
The entire Depop x Vans collection is available now on depop.com. Additionally, the marketplace has partnered with Snapchat to enable virtual “try-on” sessions of the shoes using augmented reality.
>> [ Now lux brands want in on the platform too! ]
- thanks steff! https://twitter.com/steffyotka
But the reselling site has been expanding its reach beyond cool-kid-to-cool-kid sales, welcoming runway fashion brands like Anna Sui, Rodarte, Christopher Raeburn, and Richard Quinn onto its platform.
“We’ve worked with fashion brands for quite some time, but there is a deeper understanding now among decision makers at fashion brands about how resale platforms like Depop contribute to the responsible consumption via circularity and how we allow brands to interact directly with their customers every day, which is invaluable.
To interact to that degree with Gen Z shoppers in particular allows for the type of insights that traditional retail partners simply can’t provide.”
THE DOPE IDEA & THE BRAND EXECUTION:
* Taking the idea and amplifying that into tactical action.
See you next week for the second half of our two-part report.
We’ll discuss on how to position ourselves as a new player in the Lux Brands + Depop + Gen Z space — and get into the development of the Brand IP, securing a legit Domain Name, then making it Internet LIVE.