In just a few years, Vinted, the powerhouse of second-hand goods from Lithuania, has become a staple in French society. But what’s behind such phenomenal success? From its origins to its operations and a few little secrets, let’s dive in with the Vinted team.<\/p>\n
### How to Shop on Vinted: Reviews, Tips, and How-To<\/p>\n
The go-to site for fashion enthusiasts? Clearly, it’s Vinted. From fees to delivery and managing your wallet, we’ll guide you on how to purchase your next favorite outfits on Vinted and make the most of this massive online flea market.<\/p>\n
### How to Sell on Vinted: Tips, Tricks, and How-To<\/p>\n
Looking to declutter your wardrobe? Selling clothes, accessories, or cosmetics on Vinted is a smart move. Here are all the tips you need to ace your digital garage sale.<\/p>\n
### Must-Follow Vinted Accounts of Influencers for Hidden Gems<\/p>\n
Spotted an outfit on a top Instagram blogger? You might get the chance to snag it at a great price! The second-hand site Vinted is a treasure trove, and these influencer-run accounts prove it.<\/p>\n
### Vinted, How Does It Work?<\/p>\n
Vinted’s concept is straightforward. It’s a platform for buying and selling second-hand clothes and items. Available both as a website and an app, Vinted requires users to create an account. This account then allows them to post listings to either sell items they no longer need or purchase desired items. Users can negotiate prices, bundle items, and ask questions directly to sellers, fostering genuine interactions to ensure they get exactly what they need.<\/p>\n
### How Does Vinted Make Money?<\/p>\n
With no fees charged to sellers, it might seem puzzling at first how Vinted earns revenue. The trick lies on the buyer’s side. Buyers are charged 5% of the sales price plus a fixed 70 cents per transaction. These fees, known as “Buyer Protection,” were challenged in a lawsuit by UFC-Que Choisir in May 2021 for deceptive commercial practices. The consumer association criticized the presentation of these fees as optional when buyers have no choice but to pay them during transactions.<\/p>\n
Another cornerstone of Vinted’s business model is “Boosts,” which are paid, temporary promotions of listings. These are offered to sellers at a cost of 1.95 euros for seven days or 1.15 euros for three days. The “Wardrobe Spotlight” feature, another paid option, costs sellers 6.95 euros and ensures their items appear prominently in feeds, updates, catalogs, and search results. All of Vinted’s revenue is reinvested into platform development, which as of 2021, was not yet profitable.<\/p>\n
### Vinted’s Revenue Figures<\/p>\n
The most recent revenue figure released by Vinted was in 2019, amounting to 1.3 billion euros. In May 2021, the platform raised 250 million euros in funding, valuing the Lithuanian app at 3.5 billion euros.<\/p>\n
### How Does Vinted’s Customer Service Operate?<\/p>\n
Vinted does not see itself as a fashion company. Most of its 1,200 employees are focused on enhancing and streamlining the customer experience. However, members often express confusion and doubts. Questions like how to return an item, what to do in case of a dispute, and whom to contact are common. To address these, Vinted offers a “help center” in the form of a forum, facilitated by experts and long-time users. While the company does not directly engage in forum discussions, it continually refines its processes, such as ensuring the authenticity and reliability of luxury items sold on its platform.<\/p>\n
The occasional unpleasant or bizarre interactions with buyers and sellers have become infamous, documented on an Instagram account aptly named “The Annoyances of Vinted.” When asked about this reputation, CEO Thomas Plantenga smiles and points out the “report” button. “It’s very enlightening for us to see these issues, and while we can’t regulate every interaction, we pay close attention to improve,” he says.<\/p>\n
### The Story of Vinted<\/p>\n
Vinted’s origin is remarkably simple. Milda Mitkute, a young Lithuanian, needed to clear out some clothes during a move but found no easy way to do so. Together with her friend Justas Janauskas, they created Vinted in Vilnius in 2008. The platform quickly outgrew Lithuania, thanks to Janauskas sharing the concept with two German couchsurfers who helped launch Vinted in Germany. This was followed by expansions into France, Belgium, Spain, and beyond, broadening its offerings to include children’s clothes, men’s wear, tech products, and beauty items. The success story from Vilnius had begun.<\/p>\n
However, by 2015, Vinted was struggling. Enter Thomas Plantenga, brought in by investors to turn the company around. By relocating teams to Vilnius and significantly reducing fees for both sellers and buyers, Vinted was revitalized.<\/p>\n
### Vinted by the Numbers<\/p>\n
– 2.2: The number of items sold per second in France.
\n– 15 euros: The average price of an item on Vinted.
\n– 18: The number of countries Vinted operates in, including 16 in Europe, with cross-border purchasing now available.
\n– 23 million: The number of Vinted members in France, 50 million worldwide.
\n– 300 million: The number of items available across European platforms.
\n– 1.3 billion euros: Total earnings generated by Vinted members in 2019, the last reported revenue figure.
\n– 250 million euros: The amount raised by the platform in May 2021 to continue its expansion.<\/p>\n\n\n