Are you undecided about selling used items on Poshmark? This article will help you understand Poshmark, how it works and what it will take for you to make money from selling on the platform.
1- What is Poshmark?
Poshmark is a leading social ecommerce marketplace that allows users to earn money for selling their favorite brands. It has been growing rapidly since its launch in 2016, and now has more than 80 million registered users across the U.S., Canada, Australia, and India. The platform is expected to grow even more in 2023 after its acquisition by Naver Corp. (“Naver”), Korea’s largest internet company.
Poshmark started as a social online marketplace for fashion, but now allows its users also called “poshers: to buy and sell clothes, new personal care products, select home goods, select pets’ items, and select electronics.
2- Is it worth it to sell on the Poshmark?
If you are a fashion retailer, designer, stylist, or just someone who’s trying to clear their closet, you should consider selling your inventory on poshmark. Here are some reasons why:
- Poshmark will give you the ability to reach a wider audience of potential buyers of your inventory.
- If you are a selling your clothing, accessories or other products on other online platforms, Selling your inventory on Poshmark will help boost your sales, and build brand recognition.
- The Poshmark website and app offer a wide range of features that make it easy to list your items for sale.
- You can list your items for free, and get started without spending any money on creating an online store.
- You don’t need to pay for advertising fees on Poshmark. You can share your closet and listings with other poshers for free.
- Poshmark offers many tools on its website and app to help you make sales, including sharing your listings with other poshers, and negotiating prices with potential buyers.
- You can decide your shipping policy on each listing and change it anytime to attract more potential buyers by offering free shipping and shipping discounts.
- You don’t have to deal with some buyers returning items after using them for 30 or 60 days. When a buyer purchase an item on Poshmark, they have 3 days to decide if they want to keep it or return it.
- Poshmark handles financial transactions so you don’t need to pay any debit card or credit card fees.
3- How much does it cost to sell on Poshmark?
Creating a closet on Poshmark is easy and free and listing items for sale on the platform is also free. Sellers get charged a fee only when an item is sold, and the transaction is completed. For all sales under $15, Poshmark charges a flat commission of $2.95. For all sales of $15 or more, Poshmark’s commission is 20%.
4- How to list your first item and start selling on Poshmark?
Now that you know more about Poshmark and the cost and benefits of using It to sell your inventory, you can follow these simple steps to list your first item:
- Download the app, create a profile and add your bank details.
- Take photos of the item you want to sell (Poshmark allows you to add up to 16 photos and 1 video to show all the angles and details of your item).
- Write a description about it so that potential buyers know what they are getting.
- Add some information about your item such as brand name, condition, size, color, style, tags, and price.
- Once you’ve done this, you can publish your listing.
- Follow other poshers so you can start building your followers base.
- Share your listing with your followers.
- Share other poshers listings, most of them will share your listing with their followers.
- Share your items to posh parties.
- Once your item has been sold, you’ll need to pack it up in a box or bag and ship it off to your buyer using a shipping label that Poshmark will send you.
5- How to make money selling used items on Poshmark?
Because profit = revenue – cost, making money selling used items on Poshmark is not only about making sales, it is also about finding quality items to resell on the app at a cheap price. Here are some tips on how to make profit as a seller on Poshmark:
- Try listing items and brands that sell fast on the platform.
- Do some research in your area to find the best deals to resell on Poshmark. You can check your local auctions, thrift stores, garage sales, consignment stores, goodwill stores, etc,.
- Find the best strategies to lower your cost of buying inventory. For example you can spend less money on gaz if you drive less to buy your merchandise, or buy your inventory in a goodwill outlet (the bins) and pay for per the lbs, instead of buying it from a regular goodwill store, etc,.
- Save time and money by getting merchandise that is ready or almost ready to list. You don’t need to spend hours fixing and cleaning inventory.
- Offer new items to reflect the current trends.
- Share your closet with other poshers
- Share your items to Poshmark parties.
- Follow other poshers and share their closets to get more potential buyers to view, follow, and share your closet.
- Send offers to likers and accept offers from potential buyers when you can.
- Provide good customer service.
- List more often to add more value and keep your closet active.
- Price your item competitively and update your prices when items don’t sell.
- Make sure that your photos are clear and you descriptions are accurate.
- Use keywords in your titles and descriptions to rank your listings higher in Poshmark search results and Google search. Some keywords buyers use are brand name, style, size, color, condition, etc,.
6- Poshmark terminology to remember:
- Posher: A Poshmark user (Buyer and Seller) is called Posher.
- BOGO: Buy one, get one. Example: Buy one, get one free.
- OBO: Or best offer.
- Not For Sale: The item is not available for purchase.
- TTS: True to size.
- Reposh: Reposh is a feature that makes it simple for Poshers to relist items purchased on Poshmark.
- EUC: Excellent used condition.
- Posh Parties: Live virtual shopping events where Poshers buy, sell, and share fashion, accessories, new personal care products and select home goods.
- OS: One Size.
- OSFM: One Size Fits Most.
- CCO: Closet clear out.
- An Official Closet: Poshmark closet that is owned and operated by a brand or retailer.
- LLC: Love or list challenge.
- PFF: Posh friend forever.
- NIB: New in box.
- Boutique: The listings are brand new and were purchased wholesale or directly from a distributor.
- NWT: New with tags.
- NWOT: New without tags.
- MDD: Make a deal day.
- OTL: Offer to likers.
- Posh Ambassador: is a role model in the community who receives special benefits, in addition to a badge in their closet and about page.
- Posh Ambassador 2 is a more advanced role model in the community who receives more perks (special gold badge, priority support with Poshmark’s support team, offers for free or discounted tickets to Posh events, and exclusive live events).
7- Can you get scammed on Poshmark?
Scams exist on any online marketplace. You should always be cautious when making a purchase or making a sale online. Poshmark has buyer and seller protection policies to protect poshers from getting scammed.
To avoid becoming a victim of a scam, always refuse to deal with other users outside of the marketplace, never give away any personal information, open a claim within 3 days of receiving your purchase if you receive a fake or not as described item, and report any potential scam immediately to Poshmark customer service.
Was this article helpful? please let me know in the comments section. You can ask any questions you have about selling used items on Poshmark. We’re here to help.
Sign up here and start selling on Poshmark today. By using my code SARADRETAIL, you will receive $10 upon joining and I will get $10 after your first order is delivered.
