US handmade EC Etsy acquired a used clothing flea market app that is popular among young people

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On June 2, "Etsy," which operates an EC site for handmade products in the United States, announced that it has acquired the British flea market app "Depop." Etsy was founded in 2005 in New York, and offers handmade clothing, accessories, miscellaneous goods, and other buying and selling services in the app, and is primarily used by millennial generations to older consumers. On the other hand, Depop was founded in London in 2011 and is used by young people of "Gen Z" as a used clothing flea market app. According to the Nihon Keizai Shimbun, the total transaction amount this time was 1,625 million dollars (about 178 billion yen), which was expected that EC sales will slow down because of the spread of vaccines in the United States, and is to be seen as a measure to attract young people who use EC heavily.

Source: Nihon Keizai Shimbun "Etsy, a Handicraft EC Company, Acquired the British Flea Market App for 180 Billion Yen" (June 3, 2021)（link available in Japanese only）