Vintage Tech and market communities

A new ecosystem of consumers and entrepreneurs is forming that combines old and new, vintage and tech, using apps to buy and sell second-hand clothing and accessories, found in flea markets, found at the bottom of a closet, or simply used. Someone modifies and updates them, and then resells them at higher prices. Others use these apps simply to get rid of the superfluous, of a purchase they have regretted, of a garment they no longer like. Still others manage to make it a profession, mixing the traits of the influencer with those of the merchant, putting on sale garments worn perhaps only once but made instantly iconic thanks to the following on social networks. The difference compared to the classic “market” sites or the ubiquitous eBay is the greater immediacy and speed of use, and the creation of a community of users in a hybrid between the market and the social network, which creates success cases and transforms the sale of second-hand items in a fashion phenomenon. And the big names are also understanding it. Last week Etsy, the American online marketplace dedicated exclusively to vintage and handmade, brought Depop, a platform born from the intuition of the Anglo-Italian entrepreneur Simon Beckerman, for 1.6 billion dollars. Depop, launched in 2011 based in London and now active all over the world, was the first to bet on the vintage trend of generation Z, integrating social elements on its app, with likes, internal messages and follow systems very similar to Instagram. The Depop community has over 30 million users in 150 countries around the world, 90% under the age of 26. A generation of buyers that also appeals to brands, as evidenced by Depop’s collaborations with brands such as Benetton, which just a few days ago announced a partnership with the platform for the recovery of vintage and iconic garments, statements for sustainability and against fashion Used items fascinates and attracts a generation that on the one hand moves away from fast fashion in search of a unique and quality piece, on the other hand it has less purchasing power and greater environmental awareness. A recovered and personalized branded shirt or jeans, at a tenth of the store price, and with a low carbon footprint: this is how Depop meets all these needs in one fell swoop. In addition, it has been able to exploit the social power by hiring influencers with cross connections and references to Instagram. The pandemic here too has given the sprint, moving everything online, leaving people with more time to do “spring cleaning” in their closets and often with the desire and need to create an alternative source of income, has made Depop take off towards Very high prices, as evidenced by the recent purchase by Etsy, but Depop is not alone. To keep it company in Europe is Vinted, the largest second-hand trading app, estimated at over 4 billion dollars, while in the US ThredUp and Poshmark are depopulated, with a global market that, according to data from Boston Consulting Group, is worth annually over 40 billion dollars and is set to grow by 20% a year for the next 5 years.