Poshmark: A Guide to Safe Buying and Profit Selling

Poshmark: A Guide to Safe Buying and Profit Selling

poshmark

The iconic French designer icon, Yves Saint Laurent, once said, “I have always believed that fashion was not only to make women more beautiful but also to reassure them, give them confidence.”

Indeed, our clothes and the way we carry them speak a lot. If we feel comfortable with our clothing, we can feel powerful and worthy of respect. No wonder, many of us freely spend on our attire and clothing.

To add, clothing is a way of expression and our choices reflect our personality, sometimes, even our statuses in life. 

Poshmark: A Guide to Safe Buying and Profit Selling

As we search for the most suitable clothing for us, we also spend time and effort going from one shopping hub to another. It is fun for some time, but can also be stressful since it may take longer to find the best size or color for us.

Moreover, since we are now living in a post-pandemic world, going to the malls and trying on clothes which may have been worn by others may pose more risks to our health and to those around us. 

Thank goodness, we now have e-Commerce platforms like Poshmark that offer interaction among sellers and buyers without the risks of going out. 

What is Poshmark

Poshmark is an e-commerce platform, operating via social media and mobile apps, where users could buy and sell used or new clothing and accessories. It was launched in 2011 in California by its founder/CEO Manish Chandra, together with Tracy Sun, Gautam Golwala, and Chetan Pungaliya.

 

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Rising along with other more popular e-commerce platforms such as eBay and Etsy, Poshmark quickly became a multimillion-dollar retailer especially during that time when social networking apps were just gaining attention. In 2019, the revenue of Poshmark went skyrocket and it managed to pay its sellers from $1 billion to $2 billion in just a year.

The Poshmark community is made up of seven million sellers and 40 million total members. A distinct advantage of Poshmark compared to other platforms such as eBay, Amazon, or thredUP is its social networking feature. Because of it, users can follow others, like, share, and comment on clothing listings.

How to Reach More Audience in Poshmark

Another impressive feature of Poshmark is its daily hosting of virtual “Posh Parties” where you can list your qualifying item in a live party for a chance at more eyes on your listing.

For example, if there is a party just for sports brand attires, you could list your favorite shoes, leggings, or accessories for more exposure. 

This is another way to leverage the Poshmark ecosystem and increase your sales at the same time. You can make your poshers excited by offering them exclusive discounts, freebies, and lots of fun goodies, 

In return, your poshers can boost your marketing by having them like and share your videos.

How Legit Poshmark is

If you keep asking the question, “Is Poshmark legit?”, that is fine. However, fret not because Poshmark is legit as it gets.

The community has continued to grow with over 50 million users and with over 5 million sellers and counting as of July 2019. How much more after a couple of years where people prefer to stay at home but continue to shop online. 

You cannot go wrong with Poshmark as its tens of millions of users and sellers from all around the world prove its legitimacy. It has much more to offer as compared to other social marketplaces.

It is a legitimate company that offers incredible deals, steals, and opportunities for ambitious sellers too. One more important thing to note about its legitimacy is that Manish Chandra started Poshmark in 2011, which makes it an anomaly amongst internet companies, and the farthest thing from a scam. 

In terms of safety and data security, Poshmark has several security features to keep users safe. Poshmark boasts of its  “Posh Protect” policy that guarantees buyers a full refund and free return shipping if a purchase or service does misrepresent the listing description.

How to Buy on Poshmark

You might be also interested in purchasing clothes and accessories via Poshmark. Another impressive thing about this e-commerce app is its convenient and user-friendly signing-up process for buyers.

So, how does Poshmark work for buyers? You can start by creating your account. You have to include your standard fares of user information.

This entails your name, address, and the like. Next, select your favorite brands so that you can enable Poshmark to boot its system to match recommendations for you.

You can find a lot of brands from Poshmark and you can’t help but be fascinated with the selections. There’s a vast array of goods, from designer items from Louis Vuitton and Gucci to Reebok, Nike, Adidas, and more. 

Another cool feature about Poshmark is that you can select your sizes too. It also has a size chart so you can accurately select your size.

The beauty of this feature is that you can save time sorting sizes and prevent getting the wrong one, then eventually waste time, effort, and money to ship the item back and forth. 

You can also maximize this feature when you look for holiday treats for your family and friends. You can just ask or figure out their sizes as you order gifts for them without racing for sales deadlines and competing against a lot of customers over great items in the mall.

How to Sell on Poshmark

If you would like to venture on the profitable side of Poshmark, you can start with your smartphone or DSLR camera.

Bring out the photographer in you and snap a few photographs of what you want to sell. Select the clean and IG-worthy photos and post them on social media sites.

You can also utilize the “follower feature” of Poshmark which eBay and Craigslist do not yet have. This feature promotes the idea that the more followers you have, the more visibility you’ll get.

It can be costly, but the built-in eco-system allows you to attract and retain relevant buyers from the get-go. 

Another thing that you have to expect when selling on Poshmark is that you’ll meet some heavy competition especially nowadays that online businesses continue to boom.

Although you may have some fantastic brand-name types of clothing items that are new or used, so do a lot of other users. If many followers dib on your item, this definitely makes your Poshmark product a gem to be chased for.

Being an entrepreneur on Poshmark is not just about the thrill of promoting and selling your items. Since the main objective is to earn from these items, you also need to analyze and compare the prices of your items against other sellers without compromising your profits.

How to Do Fast Selling in Poshmark

Every entrepreneur wishes for the ideal in improving his sales. This is actually not rocket science but this still entails efforts on your end. Nevertheless, the best way to sell your items quickly on Poshmark and make a quick buck is #1: be attentive to your shop.

Since marketing is done digitally nowadays, this includes taking plenty of good-quality pictures of the items you’re selling, providing detailed descriptions including sizes and measurements, and sharing your items daily. Consistency is the key!

Sales are still the heart of online selling platforms. The more you promote your product, the better chance you’ll have of regular transactions. Hence, more ways to make money.

Aside from marketing and sales, customer service is also a critical factor in promoting and running your business. You have to be patient and friendly to your customers as they inquire about your products. Some customers may have more inquiries than others. 

According to a reliable Poshmark site, here are the frequently asked questions by customers in Poshmark. 

  • Does it come from a smoke-free home? 
  • Do you have pets, and should your buyers be aware of any allergens that may arise with your item? 
  • Are there any stains or areas of visible wear and tear that you should point out? 
  • Is the item brand new and never worn? 
  • Have you laundered the item?

These are all questions your buyers want to know answers to, and in this case, what the buyer wants, the buyer should receive.

How does Bundle Selling Work

If you would like to go on Bundling on Poshmark, it is manageable and easy. But first, let’s define what bundling is. 

From the word itself, bundling means purchasing a larger quantity of items from a particular seller so that you can earn more discounts. This is similar to how department stores offer a free item or 50-70% discount, for example, when customers reach the target number of purchases. 

However, it is easier to do it in Poshmark. The buyers just simply have to place the items in their online cart and request a “bundle” when they receive the payment promptly.

Often shops will have a bundle discount selling option offer in place. If the shop you’re buying from does not, you can send a proposal of the amount you would like to pay for your bundle of clothes.

Most financial advocates and frugal shoppers embark on this idea. Needless to say, this is an ideal opportunity, especially on items that are not worn quite as much, such as kids’ clothes. 

However, this is not advisable if you intend to buy an item only and you have a target budget to seize. Remember that you save what you don’t spend, regardless even if the other items are on sale or sold in bundles.

How to Make More Money via Poshmark

For businesses, the fact that reviews are everywhere and everyone is reading them is vitally important to your business. Reviews help customers decide on your service; prove that you are credible, and improve your SEO, and place you in front of consumers.

You’ll want to ensure that you meet your target audience and attract loyal customers who support your goods to boost sales on Poshmark. This implies that by selling premium products that are never knock-off brand names, you would have to keep Poshmark’s customers happy.

When you’ve made a sale and check in with them, ask your customers to leave feedback for you to ensure they’re satisfied with their purchase. Even if your buyer is not that satisfied, make sure to honor the return policy.

How to Communicate with Buyers in Poshmark

There is nothing more frustrating than asking a question and either being ignored or immediately failing to receive a response. That’s why you should connect with your customers freely and frequently if you’re selling on Poshmark.

With buyer and seller communications on Poshmark, there is no privacy involved. They post it as a comment on the item if a buyer has a question, and the seller responds at their convenience.

Communication between sellers and buyers is a good thing because the topic might be a common inquiry, and others may also want the data. However, it becomes public knowledge if there is some dispute connected with an object.

How does Poshmark Earn

Like any other e-commerce platform, Poshmark takes a share of the sales of the products listed on their site. However, although some other platforms do, the company would not charge users to post products, it takes a percentage of the profit received from a sale.

So, how does Poshmark profit from this endeavor? If you sell an item that is under USD 15.00, Poshmark claims a standard $2.95 for an item at this price point. It is crucial to know how this works for Poshmark.

Because of this cut, it will be almost useless for any seller to post any products under $10.

In particular, if an item is over USD 15.00, Poshmark takes a commission of 20% of the sales. This fact is really hard to accept, especially for sellers whose item is a high-ticket one, new, with tags, and they are initially trying to recuperate your initial investment.

Conclusion

How do you find Poshmark? Do you see it as a more profitable and convenient e-commerce platform than others? 

We hope this comprehensive guide helps you decide in pursuing your clothing business in Poshmark. But certainly, you can use the tips and insights we have laid here in any venture you may decide on. 

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