With over five million users, selling on Poshmark can be quite lucrative, with more opportunities for sellers to make a good amount of revenue. From gently-used clothing to shoes and accessories, people are increasingly appreciative of the idea of buying pre-loved outfits!
Considering there are millions of sellers on this unique platform, competition is bound to be stiff. However, if you know what to do and how to do it, you can turn a tidy profit if you have a firm grasp of how to sell on Poshmark.
To that end, here are some useful tips for selling on Poshmark, plus a closer look at some of the increasingly popular eCommerce platform's details!
What is Poshmark?
Poshmark is a social eCommerce platform where people come together to buy and sell gently-used clothing, shoes and accessories. With this platform, you can start a unique side hustle selling some of the clothes and fashion items you no longer need.
Poshmark itself was founded in 2011. Initially, it's focus was mainly on women’s clothing, but over time, men's and children’s categories were also introduced. According to reports released by the company’s CEO Manish Chandra, the platform has reached the $1 billion mark in sales as of May 2019.
How Much Does it Cost to Sell on Poshmark?
Before you start selling clothes on Poshmark, it's important that you understand how their fee structure works.
The Poshmark fee structure is straightforward – for sales that are below $15, the seller pays a commission of $2.95 and keeps the rest. For sales of $15 and more, Poshmark takes a 20 percent commission while you get to keep 80 percent of the total sales.
So, how exactly does selling on Poshmark work? Once sales are completed, earnings are automatically released on the fourth day of delivery to the buyer. What you do with your earnings is your choice - you can either spend it within the app or make a withdrawal.
Who Pays for Shipping on Poshmark?
When it comes to shipping payments, customers pay a flat fee of $6.49 for shipping their items to them. On the other hand, customers can also negotiate shipping fees with sellers and in some cases, only pay the fees after delivery has been made.
Can You Make Money Selling on Poshmark?
Yes, you can make good money selling on Poshmark!
Statistics show that there are sellers who have raked in over $1 million selling on the platform. Some have even turned this supposed “side hustle” to full-time jobs, launching their own trendy boutiques on the platform.
However, don't forget that Poshmark will always take a certain percentage of the sales you make selling on it - $2.95 commission for sales under $15 and 20 percent for sales above $15. So, it's always best to think about how you can maximize your net sales.
8 Tips for Selling on Poshmark
In order to make the most of selling your used clothing and accessories on Poshmark, it's important that you do things right. Knowing the right tips for selling on Poshmark is crucial - here's a quick look at just some of them!
1. Take Great Product Shots
When it comes to selling online, the picture quality of the product or item significantly impacts your potential customers' attention.
Always make sure that you take clear, crisp pictures of items you're putting up for sale. You can take a picture of you or someone else putting on the clothes, shoes or accessory. You should also show the item from different angles to provide as much visual coverage as possible.
2. Write Honest and Interesting Product Descriptions
The clearer and more transparent your product descriptions are, the more people will be willing to trust and buy from you.
One of the secrets to selling on Poshmark and being successful at it is letting your potential customers know if there are any flaws or signs of wear and tear on any item you're displaying for sale. You should also add the measurements for clothes, including length, waist and the like to convey as much information as possible to them.
3. Consistently Promote Your Products
It's simply not just enough to list your items on the platform, sit back and watch your sales magically grow – you need to consistently promote and share these items!
Setting up social media accounts to promote your products is always a great idea. Just as importantly, share your items on Poshmark at least twice a day in order to promote them and help them move to the top of customers' product searches.
4. Share the Listings of Other Sellers
Another secret to making the most of selling on Poshmark is to share the listings of other sellers.
Though it may seem counterintuitive at first, many fellow sellers will also reciprocate by sharing your own listings too. This way, your items will be exposed to a broader audience on the platform. However, it's best to only do this with reputable sellers, and with items that are similar to your own.
5. Avoid Selling Knock-Off Products
One thing about selling items online is that you can easily tarnish your image by selling fake or knock-off products. On that note, always avoid listing fakes, counterfeits or knock-offs while selling on Poshmark.
Before you share another seller’s listing, also make sure they're not knock-offs themselves. It's also worth noting that you risk having your account suspended if you are caught selling fake items - so don't take the chance!
6. Consistently Update Your Closet
Another way to stay ahead of other sellers is to consistently add new items to your closet. The more consistent you are with adding new items, either weekly or bi-weekly, the more customers you will draw to your boutique. When this happens, you'll be able to sell off more items, both old and new.
7. Understand What People Are Buying
When you're thinking about how to sell items on Poshmark, you should take time to research and understand items that are in high demand.
You can do this by browsing the platform extensively, reading customer feedback and noting down what's sold first from your closet. This allows you to stock faster-selling items more efficiently.
8. Do Comparative Price Research
Finally, one of the top tips for selling on Poshmark means doing proper research when it comes to pricing.
Before putting a final price on that dress or those shoes, do some competitive research and find out how much other sellers are listing similar items for.
As far as online sales are concerned, attaching sentimental value to your items won't cut it. Shoppers are usually not willing to pay as much as you think the items are worth if you're selling them based purely on your attachment to them, rather than unbiased market value.
Start Selling on Poshmark Today!
Being successful in selling items on Poshmark isn't always an easy task. However, if you're willing to put in the time to take great photos of your items, consistently share them, write honest and engaging product descriptions, share other sellers’ items and more, you can be sure you're making the most out of selling on Poshmark!