Sunday, May 19, 2024

Poshmark Ushers In a New Era for the Resale Market: Live Shopping

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Poshmark debuts Posh Shows, a first-of-its-kind live shopping experience in resale.

Poshmark has been a leader in the fashion resale market for years, offering a platform that enables users to sell pre-loved clothes, shoes, and accessories. With more than 100 million registered users, Poshmark’s community has helped people turn their closets into a source of income. Now, after testing Posh Shows late last year, the resale platform is taking that experience to the next level with live shopping.

“We are reinventing fashion resale for the next decade,” Manish Chandra, founder and CEO of Poshmark, said in a statement. “Poshmark was designed from day one to create a shopping experience built around community and real-time social interactions, making it the ideal destination for live commerce,” Chandra said.

“Since we began testing, our community has embraced this interactive and fun approach to shopping, energizing our marketplace, transforming the experience on Poshmark, and strengthening the human connections that are the foundation of our business,” she says.

secondhand fashion thredup report
Courtesy kevin laminto | Unsplash

Sellers on the platform can go live and sell items in fast-paced auctions where they set the starting price and duration and can quickly move through inventory. Shoppers engage in real-time communication, discovering products and scoring deals on an endless variety of styles.

“We saw a huge gap in live commerce in the U.S. – the need for a platform that could help anyone be successful with live selling by making it incredibly simple and fun,” said Tracy Sun, co-founder and SVP of Seller Experience at Poshmark. “The community reception has blown us away, and I’m excited for what’s ahead as we make Poshmark the number one place to shop and sell live.”

Since it began testing the tool last year, the platform has been a success with sellers hosting more than 100,000 Posh Shows, and shoppers placing more than four million bids in live auctions.

Posh says the live shows are designed for discovery and exposure, making it the ideal destination for fashion resellers to go live. Powerful merchandising and discovery tools help match sellers to the right customers, and shoppers to the sellers, trends, and brands that fit their interests. Hosts can add Show Tags to describe their show, connecting shoppers to the trends they’re looking for and optimizing discovery across the more than 6,000 brands and extensive selection of merchandise on Poshmark.

Anyone can become a seller and start a live show. The Quick List feature removes the friction from live selling, allowing sellers to take an item, create a listing on the fly, and sell it live in seconds. Hosts benefit from Poshmark’s longtime focus on the seller experience, from its simple, fast PoshPost shipping service to robust payment options, customer support, and authentication services.

secondhand fashion
Courtesy Encore

Posh Shows also offer the unique ability to Sell Together, enabling hosts to auction items from others’ closets, thereby curating their shows with fresh inventory while helping others make sales. This community-based approach fuels a continuous growth engine that allows every seller to succeed, bolstering social connections and scaling the live shopping experience.

Since the launch of Posh Shows, the community has embraced this interactive and fun approach to shopping, energizing the marketplace and strengthening the human connections that are the foundation of the Poshmark business. Posh Shows has grown rapidly, with Poshmark sellers adopting it to transform their business. Many Poshmark sellers have seen their average monthly sales skyrocket and have been able to leave their 9-5 jobs to focus on their Poshmark business full-time.

Poshmark points to one Poshmark reseller, who has seen her average monthly sales skyrocket to more than $6,000 per month with Posh Shows. “Her earnings have enabled her to leave her 9-5 role and spend more time at home with her baby boy,” the company says.

In the coming months, Poshmark will be adding new features to Posh Shows to enhance the live shopping experience further. With Posh Shows, Poshmark says it’s revolutionizing the fashion resale market, offering a dynamic and social experience that enables anyone to succeed in selling and buying secondhand merchandise.

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