Launched in 2011, Poshmark is a place where fashion lovers buy, sell and discover the latest trends, as well as pick up vintage and designer finds that have been pre-loved. As more people look to sustainable fashion, building their own style and getting more for less, Poshmark has over 80 million users, making billions in revenue each year.
If you’re looking to find out more about Poshmark and what it’s all about, here’s everything you need to know about this fashion network and sales platform.
What is Poshmark?
Poshmark is a leading social marketplace for new and second-hand style items, catering to women, men, kids, pets, home décor, beauty products, and more. By connecting millions of users, Poshmark creates a platform for people to easily shop closets and boutiques from the comfort of their own homes.
One of the key elements of Poshmark is its emphasis on community building, with features such as parties and themed events to help promote user engagement. These online events allow users to interact and discover new styles, creating a sense of community in this virtual shopping space. The platform successfully combines social networking aspects and online shopping to create a unique and enjoyable experience for both buyers and sellers.
It combines the human connection of physical shopping with the scale, ease, and selection benefits of ecommerce, making buying and selling simple, social, and sustainable.
Poshmark in the UK
Poshmark is currently available in the United States, Canada, Australia, India and the United Kingdom. This means you need a billing and shipping address in one of these countries as well as an ISP located in the UK.
It launched in the UK in 2023, and to celebrate its launch it featured a range of locally-themed products. For instance, customers can find a UK London Flag Graphic Tee across the platform’s offering.
How Poshmark works
Poshmark connects buyers and sellers of fashion items, simplifying the process of buying and selling clothing and accessories online. You need to create a free account to buy or sell on the site, which includes personal details, a profile picture, link to your website and a small bio.
To begin, sellers need to list items for sale on Poshmark. This process is straightforward, the seller just needs to snap a photo of the product using their smartphone, fill out a description, set a price and post the item for sale on the platform source. Shipping is paid for by the buyer, but as a seller you can offer shipping discounts or deals.
Buyers, on the other hand, can browse through the various items available for purchase on the platform. They can filter their search by categories, brands, sizes or specific keywords, making it easy to find the desired products.
Additionally, Poshmark allows users to attend virtual shopping parties called Posh Parties, where they can discover new items, shop for exclusive deals, and socialise with fellow buyers and sellers within a specified time frame. There are also Posh Stories, which enables sellers to showcase their products through short videos and photos for 48 hours – it’s basically Poshmark’s version of an Instagram Story.
Poshmark’s platform also provides tools and features to help sellers track their sales, engage with the community and manage their online store more efficiently. The platform also takes care of secure payments and shipping, facilitating a smooth and hassle-free transaction for both the buyer and the seller.
Poshmark’s business model
Poshmark enables users to list and sell their fashion items on the platform. It’s an asset-light business model that requires its users to do most of the legwork, as Poshmark doesn’t own or manage the inventory. The sellers take responsibility for listing, managing, selling and shipping their products using Poshmark’s platform and tools.
Transactions on Poshmark are facilitated using a user-friendly interface that combines social media features, such as likes and followers, with an e-commerce experience. It allows users to follow each other, like items, and share them with others, creating a sense of community and increasing visibility for listed products.
When it comes to revenue, Poshmark earns money primarily through commissions taken from items sold on the platform. Poshmark takes a flat fee of 20% for items priced at $15 or above, whereas items under $15 are charged a flat $2.95 commission.
This commission structure ensures that the platform makes money from acting as an intermediary and providing the tools for the buying and selling process. There’s no additional cost to the buyer to shop on Poshmark, other than shipping.
Buying on Poshmark
Buying on Poshmark is an easy and safe process that’s similar to a lot of other online marketplaces.The platform’s grown significantly since its inception in 2011, boasting over 80 million users in the United States.
To buy an item on Poshmark, simply find the listing you wish to purchase and tap the ‘Buy Now’ button. Then, select your preferred payment method and submit your payment and shipping information. In cases where your order total is covered by your redeemable balance and credits, your payment method will not be charged.
It’s also possible to make an offer on a listing if you prefer to negotiate the price. This is done by submitting an offer to the seller, who can then choose to accept or decline. If the seller accepts your offer, follow the same payment and shipping steps as you would through the ‘Buy Now’ process. If they don’t accept, you can reoffer.
There are often offers and discounts across the site. Tapping the heart icon on listings will save them to ‘My Likes’ and notify of any price drops or offers from the seller.
Navigating Poshmark’s platform
When starting on Poshmark, it’s important to set up account preferences. This includes selecting the appropriate size preferences for each department and category, to ensure the items displayed on the account will match what you’re looking for
To make the shopping experience seamless and efficient, Poshmark allows users to search for items using various filters, such as brand, size, colour and price range. This makes it easier to find specific products without browsing through countless listings.
Pros and cons of using Poshmark
Nothing’s perfect in this world, and that’s no different with Poshmark. Let’s take a look at the pros and cons of using Poshmark for buyers and sellers.
Benefits for sellers
The ease of use and convenience make it an attractive choice for sellers, with Poshmark handling the shipping process. Sellers only need to print a prepaid shipping label and drop the package off.
Poshmark also allows for flexibility. Sellers can list and manage items at their own convenience from anywhere using the app. It also has seller protection policies, secure transactions and the ability to find and communicate with buyers.
There are also analytics so you can track how your Poshmark profits are going. It’s easy to list and there’s a large, active user base ready to buy your items. The community that the app’s been built on helps to make it easier for you to sell.
Negatives for sellers
However, Poshmark has a few downsides for sellers too, so it’s important to be aware of these if you’re planning to sell on the platform. The first is the fees. There’s a commission on every sale made, which obviously reduces your profits.
It’s also a competitive marketplace, and sellers might need to be strategic with pricing and presentation to stand out from others. Some buyers can also be selective and hard to please, which may affect the overall experience.
Benefits for buyers
From the buyers’ point of view, Poshmark offers an opportunity to purchase a variety of new and used clothing and accessories at discounted prices. The platform provides a user-friendly interface and secure purchase process, as well as a communication channel to negotiate with sellers and interact with a community of like-minded fashion lovers.
Negatives for buyers
However, buyers should also be aware of some negative aspects of using Poshmark. For example, shipping costs aren’t included and there are no returns – Poshmark are pretty strict on that one.
There’s also the fact that items have been worn or used before. This can lead to mismanaged expectations, or sometimes deliberately misleading listings that don’t live up to the hype. Doing some due diligence and asking for clarification if you’re not sure is an absolute must when it comes to shopping on Poshmark.
Poshmark vs other resale platforms
Poshmark obviously isn’t the only resale platform for fashion and other goods out there.
In comparison to other resale platforms like Depop, Ebay and Mercari, Poshmark offers a unique social shopping experience. Users can interact with each other by commenting, liking, and sharing listings or hosting live virtual parties to increase product exposure and sales.
Fees on Poshmark are pretty straightforward. For sales under $15, Poshmark charges a flat fee of $2.95, whereas for items sold at higher prices, a 20% commission applies. This pricing structure is competitive when compared to fees on other platforms.
Depop has a focus on unique and vintage clothing and targets a younger demographic. Mercari offers a wider variety of products beyond fashion but lacks the social aspect of Poshmark. Ebay offers everything and is probably the best known, but that comes with its own challenges too.
While also faces competition from growing resale companies like ThredUp. ThredUp has been dubbed the “Amazon of resale” due to its easy selling process and strategic partnerships with retailers, which could potentially attract more sellers.
Tips for success on Poshmark
To find success on Poshmark, sellers should focus on strategies that can help boost sales and make their virtual boutique stand out. By following these tips, sellers can enhance the buyer’s experience and improve their chances at building a successful Poshmark business:
- Create a detailed and accurate listing
- Do some keyword research to see what people are looking for
- Take great photos
- Share your listings on Poshmark
- Build up a strong community on the platform
- Be a good communicator
- Take part in activities like Posh Parties and Closet Clear-Out to boost your community and views
- Ship out items quickly, packaged well and efficiently
- Provide great customer service and generate good reviews
Poshmark offers a valuable platform for individuals interested in trading fashion items while providing a social, interactive experience. Sellers looking to make extra income or clear out their wardrobe should consider the platform, while buyers can find unique and cost-effective fashion items through Poshmark’s user base.
By understanding and following the platform’s security measures, both buyers and sellers can participate in a relatively safe and profitable online marketplace. Discover Poshmark and open your account.