My sister runs a succesful shop on Depop, she's the starving artist type, and the income from her Depop puts her suddenly at a decent median income. I don't know how sustainable it is, who knows for how long her artistic taste aligns with Depop's target market, but it does seem like a great way to run a business.
It is very surprising to me that it's as low as 10%. I bet that even if it were 30% or even 40% it would still be profitable. The way she operates is she buys lots of second hand clothing from Japan, for lets say $5 and then from that lot she sells a pair of jeans for $50. So her profit is $40 on the lot. Maybe she makes 15 sales per week, and boom there's a decent wage.
Numbers are all extrapolated from when I talked to her about her business one weekend a couple months ago. I have no idea how much she actually sells or makes at the moment.
Maybe also interesting to note that this is a scale up from what she already did locally. She's been trading second hand clothing for years now. The Depop thing is new and it transformed her business from being a side gig to a primary source of income.
I've been listening to Galdwell's audiobook Outliers and he talks about the NYC garment industry in the late 19th and early 20th century. There's a lot of parallels with today. You might find it interesting.
It is very surprising to me that it's as low as 10%. I bet that even if it were 30% or even 40% it would still be profitable. The way she operates is she buys lots of second hand clothing from Japan, for lets say $5 and then from that lot she sells a pair of jeans for $50. So her profit is $40 on the lot. Maybe she makes 15 sales per week, and boom there's a decent wage.
Numbers are all extrapolated from when I talked to her about her business one weekend a couple months ago. I have no idea how much she actually sells or makes at the moment.
Maybe also interesting to note that this is a scale up from what she already did locally. She's been trading second hand clothing for years now. The Depop thing is new and it transformed her business from being a side gig to a primary source of income.