If you have extra items lying around your house and want to get rid of them but also make some money in the process, Depop is the best place to do so. You can sell things like clothes, jewellery, purses, shoes and more. However, the process of selling on Depop can be overwhelming for people new to Depop. In this article, we will not only show you how to sell on Depop as a beginner but also give you a blueprint on making your first $100K. After reading this article, you’ll have everything you need to know about Depop, how it works, and what secrets you need to know to become a successful seller.
What You Need to Know Before Selling on Depop?
We will cover something important here so you know that you’ll have these things as the basics on Depop.
Fees for Selling on Depop
Depop has a very simple fee structure and one that doesn’t hurt your net profit too. Depop will charge you 10% on the final sale of any product you sell – which also includes any shipping costs. This is taken from your valid PayPal account that you have connected to Depop.
Transaction Fees
You will also be charged a payment processing fee or should we see PayPal will charge that fee for your transaction. It’s 2.9% + $0.30 on each transaction. If you’re in the UK, it will be the same, that’s 2.9% + £0.30.
Listing Fees
Depop doesn’t charge any fee for listing your item. That means you don’t have to pay anything to list your items. So that’s good news. You’ll only be charged once you sell your item.
How to Sell on Depop
You can start the process of selling on Depop in a matter of minutes and that’s the great thing about this platform. Let’s go through a step by step process on how to sell on Depop and become successful.
1. Sign up for An Account
The first thing you need to do is to sign up for a free account on Depop. Go to signup.depop.com, enter your phone number for confirmation. Next, you will be shown a form where you need to enter your name, email address, password, and location etc. Once filled out, congratulations! You have successfully created an account
2. Connect PayPal to Your Account
You’ll need to connect your PayPal account to your account so you can be paid once someone buys your item. A buyer can pay you via credit/debit card or PayPal, but you’ll be paid through PayPal as this is the supported payment method.
How to Connect PayPal
Go to your profile by clicking on the “Profile Icon,” which is at the bottom right corner of the Depop app and click on the “setting” icon represented by a gear icon. Scroll down to the “Selling” section and click “PayPal account.” Click on that and follow the on-screen instruction to connect your PayPal account. Now, you’re ready to start listing on Depop.
3. Listing on Depop App:
If you’re on the Depop app, you can simply tap the “Camera” icon on the bottom menu and set up your shop. Add relevant details about your shop such as photo/logo and write a bio etc. You can also link your social media account, fill out your name, billing address, and move onto “List your first item.”
4. Listing on Depop Website:
Listing on the website is generally the same in concept. On the website, you will see “sell” on the top right menu. Just click that and you’ll be shown the listing page where you’ll need to add images, title, description, price, and condition etc.
How to Make a $100K Selling on Depop?
So in this section, we will start with tips on how to become successful seller on Depop and hopefully make $100K.
Setting a Target
Now, a lot of generic advice will tell you to do what other people are doing: add good images, write long descriptions, and provide fast shipping. The problem is that this advice just doesn’t work.
What you need to do is to analyse how you’ll make $100K? Start with looking at the top 10 best sellers on Depop. These are the ones you need to emulate and copy. Yes, you can model your store after theirs. Next, to make $100K on Depop, you will need to sell lots and lots of items. If you’re looking to get rid of some items in your home. A $100K is impossible. You have to find the best local supplier or a manufacturer from China or wherever who will give you the best price for the products that you can beat the top 10 sellers with. And start listing your products. You’ll need more capital to start with.
How Many Items to List to Make $100K?
If you sell 2000 units for $50 each, you’ll have $100,000 in gross sales. I know it sounds extremely difficult. Because it really is. You also have to pay 10% of that number to Depop as a fee. Another 2.5% + $0.30 to PayPal. Turns out you’ll have to sell more than 2000 units. Let’s say 2500 units to make $100,000 in gross sales. However, if you want to make $100K in net profit. You’ll have to sell 5000 units at $50 each, given that your net margins are 50%. So, your gross will be $200K, but you’ll net $100K.
Is This a Long Shot?
There are sellers making hundreds of thousands of dollars worth of items on reseller marketplaces so it’s not impossible. But it’s extremely difficult. However, with the right expertise and strategy, you can surely make $100K in net profit. You have to be listing hundreds of items each day (yes, that aggressive), listing and delisting and trying what’s working and what’s not. And double down on things that work.
A “Hack” to Get to a $100K on Depop
Now, you know you have to sell lots of items and become the top 1% seller to make that much money on Depop, there’s a tricky way to make it possible.
Storing inventory worth $100k will not be the best way to go about this challenge. However, you can still list thousands of items worth $100K without buying anything beforehand. And it doesn’t even have to be a manual listing. Here’s your task to do this:
Download the NabPush cross listing tool. This tool will cross post products from Amazon, Target, Walmart, eBay, Etsy, Poshmark, and Mercari on to Depop with just a few clicks. Wait, what? Yes, so you can find products listed on Amazon, Target, Walmart, and eBay, for example, and start listing them on Depop.
Once you sign up for an account on NabPush and download the chrome extension, you’ll be able to see the NabPush icon on every single product on the above-mentioned platforms that you can copy onto Depop.
List a 1000 Items Challenge on Depop:
Here’s a challenge for you. Using NabPush, find 1000 items that have been sold on Depop or are popular on one of these reseller marketplaces, or are being sold by the top 1% sellers and list them on Depop.
If you have to do it manually, it will take you more than a few days of continuous listing spree. With NabPush, it’s just a matter of 3-5 hours of clicking and nothing else.
Results and Learning from Listing on Depop:
If you do the challenge of listing a 1000 items and do the basic things right, that every other guide tells you to do (but misses the main problem), you should have a lot of data for your own reflection.
But do you need that data for reflection or are you looking to make $100K? You may ask. Well, you need that information that will guide you to make your first $100K on Depop. You will see that many items will not be viewed, some will get a few hundred views, and a dozen or maybe less will get a thousand views (or more), and many will be ordered.
You know what to do with this, don’t you? Get rid of those that didn’t perform. Double down on the ones that had a huge number of views and start loading more items on the ones that were ordered.
Rinse and repeat the process until you have items that are “hot” selling for you. Don’t worry about margins much yet. Once you have those hundreds of “winning products,” find a manufacturer or a supplier and negotiate the price. You will see how it becomes possible to be on a road to $100K in sales on Depop.
Lastly, if you’re looking for advice on titles, product description, and pricing, read many other guides I have posted on this blog. However, you should have that bit covered already if you’re looking to become a seller on Depop and make $100K.
Conclusion
So that’s it for this article on how to sell on Depop and make $100K in the process. Whether you’ll make that much or not will depend on your plan and how well you execute it. Be ready to take some risks. It’s not going to be free and you’ll need capital to pull off a legit scheme this huge. However, you can do some challenge of listing items from other marketplace using NabPush and see what sells and then double down on the winning products until you reach your $100K goal. While it may seem difficult, it’s not impossible. You just need to do things differently by analysing what the top sellers are doing.