Ebay buys Depop for $1.2bn in effort to lure younger shoppers

Deal agreed to acquire British secondhand fashion resale app from Etsy as eBay attempts to fend off AmazonGen Z in the US: how are you feeling about your finances?The online retailer eBay has agreed to buy the British secondhand fashion resale app Depop from Etsy for about $1.2bn (£890m) in cash, as eBay targets younger fashion-loving consumers.The deal comes at a time when secondhand marketplaces continue to soar in popularity, especially among gen Z shoppers – born between 1997 and 2012 – amid a squeeze on household incomes and concerns about sustainability in fashion. Continue reading...