Its core audience is different too. On the call, Etsy CEO Josh Silverman said the average Etsy seller is 39. At Depop, about 90% of its active users are younger than 26.

Etsy’s goal, however, isn’t to bring Depop’s audience onto its platform and vice versa, according to Silverman. It’s to grow it right where it is. “We believe that Depop has the most engaged community of any resale platform,” he said.

Etsy’s plan to help Depop scale

Depop sellers, in fact, can develop large followings of shoppers, giving the platform a social component. Depop’s average active buyer bought six times last year, Silverman noted, and 75% of merchandise sales come from existing buyers. In 2020, it had 4 million active buyers and 2 million active sellers, and has registered users in nearly 150 countries.

Silverman said it has “significant potential to further scale,” and Etsy’s aim is to help it do that while maintaining its focus on Gen Z shoppers. Depop has gotten where it is without any significant marketing, for example, and that’s one area where Etsy sees an opportunity. Etsy also thinks its expertise in search, as a marketplace for unique items that users rely on search to find, will allow Depop to improve its own search capabilities, potentially turning more browsers into buyers. Introducing new services for Depop’s sellers, including advertising, could help it grow too.

Etsy, for its part, might take lessons from Depop’s highly visual user experience, and the way it fosters engagement among its community of customers.

Marketplaces only get better as they get bigger, Rachel Glaser, Etsy’s CFO, said on the call. That’s what Etsy is counting on for Depop.

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