It is no secret that Poshmark is making buying and selling fashion pieces "in" again. Poshmark is an interactive, social commerce marketplace where individuals can buy and sell new or used clothing, shoes and accessories. An avid user would typically use the app in the same manner as using the popular social platform, Instagram, on the mobile phone.
All of a sudden with a marketplace like Poshmark, every individual has the ability to easily resell apparel, shoes and accessories just hanging around in their closet. Moreover, thrift stores where clothing pieces are heavily discounted are all of a sudden now prime opportunities for potential reselling for net profit.
Selling on Poshmark vs eBay
At first you may question what is so unique about Poshmark than say a marketplace like eBay? The answer is the social aspect of it - think Instagram but for your fashion pieces hanging around in your closet.
Although Poshmark and eBay both take different approaches, there are pros and cons to using either marketplaces. Ultimately you, as the seller, will determine which marketplace is most appropriate to sell your merchandise.
eBay charges 10% sales fees + 3% Paypal fee, effectively charging 13% fee upon a completed sale. On the other hand, Poshmark has a flat 20% sales fee. In this case, eBay is the clear-cut winner in terms of having a lower sales fee.
Shipping & Handling
Although eBay has more flexibility and options in terms of determining the shipping cost, usually the cost is factored in in-tandem with the listing price of the merchandise. Poshmark, on the other hand, requires that the buyer pay for shipping & handing at $6.49. You as the seller, wouldn't have to pay for any of the shipping costs. Poshmark wins in shipping & handling.
Poshmark is unique in that the main target audience is not necessarily looking for the best deal than say a marketplace like eBay. The target audience prioritizes stylish, used fashion pieces for their wardrobe. Thus, they know what to expect upon ordering within the Poshmark community.
eBay on the other hand, the consumers are often looking for the best bang for the buck and isn't widely known for its used clothing categories. Thus, there may be higher expectations from the eBay community than Poshmark's standard of used clothes.
How does Poshmark pay you
Currently, Poshmark has two payment methods of paying sellers: Check Request or Bank Direct Deposit. Requesting a payout is as simple as firing up the Poshmark app and withdrawing. For more detailed instructions on how to withdraw earnings from Poshmark, refer to the guide here.
10 Secrets to Selling on Poshmark Successfully
- Take good quality photos with good lighting with a decent camera
- Opt for a stylish look to make your Poshmark closet standout from the pack
- Be social and involved with the Poshmark community to increase the visibility of your closet
- List new items frequently and re-share your items on social media
- Re-share other Poshmark closets within the community
- Research which brand names are selling well and listen to the market
- Make sure your title and description is descriptive and includes the brand name, condition, and composed material
- Price your merchandise 15% higher than you are willing to sell to allow wiggle room for negotiations
- Be responsive and turn on notifications
- Be personal because Poshmark is ultimately a social, commerce marketplace known for its community.