It would be great to understand more on a market-by-market basis. It sounds like you might be familiar with all their markets. Where have they been highly successful? Where have they recently tipped over into success? Where are they best positioned, and where might they be struggling? The reasons behind these would be interesting to discuss as well.

For example, if you're selling jeans for €15, you would have to pay a 10% seller fee. Vinted changed this to a buyer fee, which was a brilliant move by Thomas during his first consultancy project at Vinted. This was a smart strategy because in the second-hand market, if you're looking to buy a second-hand pair of jeans and you compare two pairs, one priced at €15 and the other at €16.50, the seller might have increased the price to cover the 10% seller fee. While the difference seems small, in the second-hand market, it is significant. People will go to great lengths to save 50 cents.

It would be great to understand more on a market-by-market basis. It sounds like you might be familiar with all their markets. Where have they been highly successful? Where have they recently tipped over into success? Where are they best positioned, and where might they be struggling? The reasons behind these would be interesting to discuss as well.

Back to why Vinted succeeded. The buyer fee was super smart. It's a bargain in itself. The customer is already buying something very affordable; if they then have to pay 5% over already cheap jeans, no one cares. The first players like Depop, Poshmark, Vestiaire Collective, all fashion players in Europe, had minimum fees of 15% to 20%. Vinted hugely undercut this with a 5% fee, and a very low upfront fee of 70 or 75 cents. That's also a big difference. Now, a lot of people question whether Vinted should increase the fee to double their revenues.