As Checkout.com partners with Vinted to improve its payment processes and drive growth across the UK and Europe, the ChannelX Europe’s Marketplaces report looks at how the second-hand fashion market has gained significant momentum.
Founded in 2008 in Lithuania, Vinted has emerged as a leading online marketplace dedicated to the buying and selling of second-hand clothing and accessories.
The marketplace has expanded significantly since its inception and now operates in multiple countries across Europe. While the platform’s birthplace, Lithuania, remains a key market, its largest market is France, where the demand for second-hand fashion has surged in recent years.
Vinted has also successfully entered the German market, has a strong presence in Belgium and is making waves in Spain. More recently, it has expanded its operations into the UK, where it aims to capture the burgeoning market for sustainable fashion and vintage.
As a result, Vinted has experienced significant growth over the years. As of 2021, the company was valued at approximately €4bn, following a successful funding round that raised €250mn. This investment has fuelled further expansion into new markets along with the enhancement of its platform features.
Strong performance
The increasing consumer demand for second-hand goods has contributed to Vinted’s impressive financial trajectory. In 2022, the platform reported that it facilitated over €1bn in transactions, showcasing its ability to connect buyers and sellers effectively. This strong performance underscores its position as a leader in the second-hand fashion market.
One of Vinted’s standout features is that it does not charge sellers any fees for listing or selling items. This attracts more users and encourages them to list their items, boosting the platform’s overall inventory.
Consumer advice
Vinted provides resources and tips for users on how to sell effectively, care for their clothes and make sustainable fashion choices. This educational approach not only helps users but also aligns with Vinted’s mission to promote the conscious consumerism of fashion.
The seller’s rapid expansion across Europe demonstrates its ambition and adaptability. The company has effectively localised its offerings to meet the unique demands of each market, ensuring relevance and appeal to local consumers.
This has seen the retailer score highly in terms of overall performance, customer performance and product performance, taking it above the European average and cementing its position as not only a leading vintage clothing seller, but one of Europe’s new breed of marketplaces.
This Vinted profile is one of 27 in the ChannelX Europe’s Marketplaces report. Amazon, eBay, AliExpress, La Redoute, Showroomprive, Shein, Zalando, Media Markt. Digitec, Boulanger, Conrad, BackMarket, Allegro, Etsy, Leroy Merlin, Wayfair, ManoMano, The Range, Bricoman, Decathlon, Natura buy, All Tricks, Sprinter and Mountain Warehouse all have a detailed profile of their origin, development and USPs, augmented by detailed analysis of their performance.
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