As a small business owner selling handmade items on Depop, the platform‘s new "Make Offer" feature presents an exciting opportunity to increase sales. But how exactly can you capitalize on this discounted bidding option in 2023?
In this comprehensive guide, we’ll explore Depop‘s unique approach to offers compared to other marketplaces, provide tips to optimize the feature as a seller, and help you avoid potential pitfalls.
How Offers Work on Depop
Depop has always done things a bit differently than ecommerce giants like Etsy and Ebay. Sellers list items at fixed prices, and buyers must directly message them to negotiate discounts – a clumsy process!
That changed in 2022 when Depop officially launched "Make Offer", enabling buyers to send binding discounted offers directly through listings.
But there are some key aspects of Depop offers you need to understand as a seller:
- Offers are binding when accepted – you must complete the sale
- Buyers can only make one active offer per item
- You can counteroffer to keep negotiation open
- Offers left open expire after 24 hours
This unique approach means Depop offers feel more like an auction bid than the unlimited bartering on platforms like Poshmark. Use this to your advantage!
Optimizing Offers as a Seller
As a seller, offers present a prime chance to turn stagnant inventory into sales. But you’ll need to employ some sales tactics to properly capitalize on them.
Use Offers to Bundle and Upsell
One of the best ways to boost offer acceptance is by bundling multiple items together.
For example, if a buyer makes an offer on a shirt, you can counter by offering a discount on the shirt and another item from your shop. People love a good bundle deal!
You can also use the offer to upsell them to a higher priced item. Data shows sellers see a 22% success rate when upselling buyers this way.
Offer Free Shipping
One major objection buyers have is paying shipping costs. Offer to ship their purchase for free in your counteroffer – even if it means taking a small hit on your profit.
You’ll stand a much better chance of getting the sale. Plus you’ll save on Depop seller fees since they‘re based on item cost only.
Act Quickly on Offers
With offers expiring in 24 hours, it’s crucial you act fast when receiving one. Being slow to respond signals disinterest to the buyer.
Turn on push notifications in the app so you never miss an offer. And try to respond within a few hours, if possible.
Aim for acceptance or a friendly counter within 12 hours. Data shows the majority of offers left open that long end up expiring.
Avoid Lowball Offers
While you want to move old inventory, be wary of accepting offers that undervalue your items, especially handmade goods.
Instead of declining, counter at the lowest price you’re willing to accept. You can explain why the offer is too low in a polite way.
Holding firm signals to extreme lowballers their tactics won’t work. But staying friendly keeps negotiation open.
Making Offers as a Buyer
As a buyer, while you want the best deal possible, avoid extreme lowballs. Sellers will often just counter near full price.
Instead, look at similar sold items to gauge fair offer levels. Offers around 10-15% off seem to see the highest acceptance rates based on my consulting experience.
And remember, you can only make one active offer per listing. So make your best offer upfront since you only get one shot!
Final Tips for Offers Success
To recap, maximize your success with Depop offers using these top tips:
- Bundle items together in counteroffers
- Offer free or discounted shipping
- Quickly respond to offers within 12 hours
- Counter, don’t decline, lowball offers
- Make competitive (not extreme) offer levels as a buyer
With these strategies, you can take full advantage of Depop‘s unique "Make Offer" feature to drive profits and sales all year long. Happy selling!