Depop is becoming a top platform for both buyers and sellers. Sellers are creating a successful business on the app, and buyers find pieces that become gems in their closets. In addition, Depop has added a new feature ‘Make an Offer,” to simplify the negotiation process. Depop Offers is set to change the game for sellers.
To continue running a successful business on Depop, you need to know all that the platform offers. Having a firm grip on your marketplace business will only help you grow and give your customers the best experience possible.
We will give you some special tricks to make use of depop offers to boost sales, make sure to read to the end (Click here for the impatient)
Read on to learn everything you need to know about Depop Offers.
What are Depop Offers?
Depop has followed suit with many other marketplace platforms and recently added a new feature! This feature allowed buyers to “make an offer” on a shop’s item. In other words, it allows for some bargaining to take place on the platform. However, don’t be confused by this new feature! It is not an automatic purchase. When a buyer puts in an offer, it has to then be accepted or rejected by the seller. If the seller does accept the offer, then the buyer will get the chance to place an order at their offer price.
Many items on Depop are already posted with a discount from the retail price. This is why many people love to shop on the platform as they get to save money on pieces they love. However, submitting offers on an item is now available to get the best price possible.
The offer option also makes the exchange between the buyer and seller that much easier. It simplifies the process because many sales are already negotiated by message exchanges between the buyer and seller. The “make an offer” feature will allow buyers and sellers to quickly agree on a price.
It is important to note that on Depop when a buyer submits an offer, they can offer any amount they want. However, that does not mean that the seller has to accept it. The seller has full autonomy in deciding whether or not they want to accept the offer. So as the seller, if you receive what you think is a lowball offer and unreasonable, you do not need to accept it.
Depop Offers are a welcome addition to the platforms features for sellers like depop bundles
How does Depop Offers work?
Luckily for the users of Depop, the offers feature is incredibly easy to navigate. The feature is set up to help sellers move their items faster as it’ll be easier to accept or decline offers from buyers. It is also great for buyers to save some cash on their purchases. Below you will find out how to use Depop offers whether you are a buyer or a seller.
Depop Offers For Buyers
As the buyer that will be making an offer on an item, you first need to find the “Make An Offer” button. It is on the bottom right hand of the app, right beside the “Buy” button. Once you click on the Depops Offer button, you will be taken to the page where you can submit your offer amount.
As you can see on the offers page, there is a tip from Depop. The advice states that you should try to make an offer that is discounted between 5-30%. These numbers are a great rule of thumb to stick to and something you should keep in mind when submitting your offer.
Once you submit your offer to the buyer, they will have 24 hours to accept it. As mentioned above, once the buyer accepts your offer, the item is yours! You do need to understand that if there are several accepted offers on an item the first person to buy the product will get it.
Depop Offers For Sellers
As for the sellers, the feature is quite simple. When an offer is made on one of your items, Depop will send you a notification and email. As offers are time-sensitive and only last for 24 hours, getting a notification from Depop is essential and a significant platform feature.
Once you consider the offer, you can either accept, reject or just ignore the offer. Ignoring the offer is an option if you do not want to accept less than the listing price or the seller lowballed you. However, we suggest it is best to answer every offer, even if you counter the offer with the original listing price. It is also not a bad idea to send a message to the seller and let them know what you’re willing to accept.
For example, you could say, “Thank you for your offer! I wish I could accept; however, I need to consider my costs. I can make one more counter offer, but it’s the best I can do. Thank you for your consideration!”
How to see offers on depop
You can view offers on depop fairly easily! We mentioned previously that you will get an email and a notification for every new offer. However you can also view all your offers by clicking the little shop icon that’s in the middle of the bottom row of the depop app!
Then there should be a button labelled ‘Offers’ you can click to view the offers you have received.
Refer to the image below sourced from the depop website here:
Do depop offers include shipping ?
At the moment offers on depop do not include the shipping cost! it only includes the price of the items. Anyone looking to purchase your item after you have accepted an offer will pay the shipping cost at checkout on top of the offer.
We don’t know if including shipping is on depop’s future roadmap but you should keep an eye out as always.
Depop Offers – The Good
The offers feature is beneficial for both the buyer and seller. As a seller, it makes the sale so much easier. Instead of negotiating through DM’s, you can see what the buyer is willing to pay when they submit their offer. There’s less of a back and forth, which saves a bunch of time in the long run. Especially if you own a Depop business, this back and forth communication to make a sale can take up a lot of your time. So be ready to have more free time to devote to doing other activities that will help grow your Depop business.
In addition, the price is less a deterrent to buy when they can easily make an offer. For example, a potential customer may see an item they like but may not think they can justify the listing price. So instead of direct messaging the seller, they may just leave and forget about the item. However, when they see the offer button, they will be more inclined to offer a price they are willing to pay. So as long as the price meets your standard as the seller, you will have more sales! So, in the long run, you will be making more revenue with the “make an offer” button.
Finally, the offer feature makes the buyer happy. They feel like they are getting a good deal when they see the buyer accepting their offer. When you think about it, they are getting a better deal. This creates a happy customer, and a happy customer is often a returning customer! So overall, the offer button is a win-win for both sides.
Are Offers Binding?
The great thing about this new feature is that the offers are not binding. As the seller, you are not obligated to take the offer. As the buyer, you are not bound to buy the item. Even if your request is accepted as the buyer. If you make an offer and it is accepted, you will be notified. Once you get your notification that you can buy the item at the offer price, you can purchase the item.
Depop is unique by making the offers not binding to the seller. For example, the offer model makes it binding to the buyer on other platforms if the seller accepts. Therefore, the transaction will automatically go through once the offer is accepted. However, on Depop, you get the choice if you still want the item after your offer is accepted.
The way Depop has set up their offers as not binding is also beneficial to the seller. It allows the seller to accept as many offers as they want. When you have multiple offers that you would accept, you do not have to choose between them. Especially if a person made an offer and has not bought the item yet. In other words, it allows the offers to stay on a first-come, first-served basis.
This does beg the question: Can an offer on depop be changed after being sent?
Unfortunately, no. Once the offer has been sent, it is up to the seller to decide if they want to accept it or not. Of course, buyers do not need to purchase the item if the offer is accepted. To submit a new offer, buyers can just wait until the offer expires, in situations like this the short offer duration of 24 hours comes in handy!
How to Increase Sales with Depop Offers.
Depop offers is definitely rough around the edges but does have a lot of potential. Here are some ways you can use the feature more efficiently.
Create Response Templates
Make a copy of a standard response template for responding to low offers but also offers that you accept! This end up saving you time and let’s you close your sale faster. You can do this manually by saving your message in a notes app or by using a depop automation tool to create a canned/preset message to send to potential buyers, which saves you a lot of time because all you have to do is select the message.
Calculate the profit before counter offering.
You need to calculate the profit you will make on an offer if you take it and the buyer completes the payment. Once again you can do this manually but the best sellers do this with the help of tools that can calculate profit/fees. There are many free depop fee calculators like the one here you can use.