Learning how to sell on Poshmark effectively is key to be able to make money from it. You got to learn the secrets especially coming from people who have succeeded in selling via the said online platform.
If you are a stay at home mom who is looking for ways to earn extra cash without the need of leaving your home, Poshmark may just be the right platform for you.
Over the years that we have been working from home, we have learned that there is an endless possibility when it comes to earning money. Whether you are just staying home or working in an office, you will always find new ways to earn extra cash.
Also, another important thing we’ve learned is that there is no reason for anyone — including you — to limit yourself to having just one when you can grad many opportunities available out there. Of course, that is if you are able to juggle one work to another.
Anyway, so recently, we have found out about Poshmark. Poshmark is an online marketplace wherein you can resale items.
It’s perfect for anyone who’s interested in reselling products (which is, by the way, the trend these days especially when it comes to online business.).
Just so you know, online reselling is one of the most in-demand industries nowadays with so many who are so into online shopping.
In fact, in data published by Invesp, it says that “global online retail sales are growing and is estimated to reach 8.8% of total retail spending in 2018 as compared to 7.4% in 2016“.
Meanwhile, in a report by Statista, it says that retail e-commerce sales globally is expected to double between 2018 and 2023, and is projected to surpass 6.5 trillion U.S. dollars by 2023.
In the United States alone, it is not surprising knowing that the mobile e-commerce spending in the country amounts to $41.2 billion as of Quarter 2 of 2019. More so, the country’s mobile retail commerce sales were at 28.5% for the same quarter.
These numbers only show that online business or e-commerce is such a booming industry. There’s so much to expect, and so many opportunities to explore. No wonder why apps and websites like Poshmark are booming as well.
In fact, in a report published by Reuters in May 2018, it says that Poshmark resellers have “earned a total of $1 billion selling clothes and accessories” through the said online marketplace. This data shows that apart from the fact that a lot of people are earning through Poshmark, it also gives a good indication among young eCommerce companies despite the fact that there is always a threat from the more established ones like Amazon.
So, you see, with all these numbers and data presented, when we found all of these, we got more interested in knowing how to sell on Poshmark – more so, how to succeed in selling products via Poshmark.
If you are just like us back then, then, this one’s for you. Today, we are going to tackle about Poshmark. Basically, answering some of the common question regarding Poshmark like what it is all about, why consider selling via Poshmark, what products to sell through the app, how to sell on Poshmark (we are going to share some important tips as well), how much does it cost to sell through Poshmark, details about shipping particularly shipping cost, and also, the drawbacks of using Poshmark.
Having said that, let’s start.
WHAT IS POSHMARK?
As we have earlier mentioned, Poshmark is an online marketplace. It is a social eCommerce platform where anyone can buy and/or sell new or used shoes, clothing, accessories and more. Unlike its competitors, Poshmark is pretty much a niche online marketplace.
Poshmark was founded in 2011, and the company headquarter is located in Redwood City, California.
By using Poshmark, you can start your own unique side hustle by selling your own preferred items. Back when it was just starting, Poshmark was focused on women’s clothing. However, over time, its market has evolved and now it also caters to men and kid’s clothing, shoes, etc.
WHY CONSIDER SELLING THROUGH POSHMARK?
Sure, there are so many online marketplaces out there. Some of them are well-established and have been there for so many years already. Why then consider selling through a relatively new eCommerce company?
Based on our personal experience, here are some reasons why you should consider using Poshmark:
– It’s easy to use.
If you are a stay at home mom who’s looking into the possibility of earning extra cash without having to leave home, one of the first few things that you will take into consideration is the ease of use of the app.
With so much on your plate, you would most likely prefer an app that is easy to use.
With Poshmark, you only need your smartphone. You literally can use it to take pictures of the items you are selling, as well as in writing your product description. You certainly won’t need a laptop to do all that.
– It comes with moderated returns.
What does it mean? As a seller, there will be times when you have to deal with product returns. Well, this is true with other online marketplaces. You basically deal with everything, which is not the case when you use Poshmark.
With Poshmark, they are the ones who take care of customer return requests. More so, returns are not allowed for fit, which makes it hard for scammers to get through this kind of system. Unless the buyer has pictures to prove their case, the return will not be processed and accepted. There is also no such thing as partial refunds or keep-and-refund.
– They have a built-in community.
According to Poshmark, they have more than 40 million users, and 5 million of those are sellers. In this industry such a number is impressive. After all, what is eCommerce if there are more sellers than buyers, right?
In addition, Poshmark users were found to spend an average of 23-27 minutes using their app every single day.
– They encourage bargaining.
This one’s good for online business, to be honest. With such an option, you get to attract more buyers. Basically, you either be the one to give your price or let a buyer propose or bargain her preferred amount for the item.
Normally, what buyers do is sell their items a little above than the supposed price so when people bargain for a lower price, they can accommodate such requests.
– They have a streamlines purchase and shipping process.
So, this is how it goes. Once you get to sell an item, Poshmark will email you a shipping label, which you need to print out, and stick it to the package.
Once done, drop it in the mail. That’s how easy it is. You don’t need to worry about weighing the package or get shipping quotes anymore. Poshmark’s purchase and shipping process is fairly easy and straightforward.
– Tax remittance is already included.
Who’s scared of dealing with taxes? Well, most of us are. And if you are a fulltime mom and you do online selling, it’s an added concern that you need to deal with.
But that is not the case with Poshmark. They have what they call as Posh Remit, which handles the collection and remits all sales tax on all marketplace purchases so sellers no longer have to worry about it.
This is precisely what we love best about Poshmark.
– It comes with several marketing opportunities.
With Poshmark, you can share your listing across your social media channels directly in the app. Poshmark is integrated with major social media platforms like Facebook, Instagram, Pinterest, as well as Tumblr.
Before we move on to our next agenda, in the video below by Thee Queen of Thrift, she shares about how to sell on Poshmark, at the same time, sharing tips on how to build a successful closet to be able to make extra cash. If you want to know more, just click the play button below.
WHAT PRODUCTS CAN YOU SELL ON POSHMARK?
As we have mentioned earlier, unlike other eCommerce sites or online marketplaces, Poshmark is quite a focused marketplace. It’s not like you can sell anything and everything you want to sell, which is why it is important to know what to sell on Poshmark exactly.
To be specific, Poshmark is all about women, men, and kids’ fashion and accessories. In some instances, you may spot pieces of jewelry, selected home goods, as well as beauty products.
On their site, it is stated that they strictly prohibit selling “illegal items, including but not limited to replicas or fakes, products derived from threatened or extinct species*, anything requiring a prescription, misrepresented Native American or American Indian arts and crafts, and stolen goods“.
In addition, Poshmark also “prohibits the sale of items that cannot be shipped using our shipping label type per USPS regulations, including nail polish, perfumes, and aerosols“.
Furthermore, Poshmark does not condone “buying or selling of electronics, cell phones, DVDs, furniture, appliances, used makeup, used underwear, any health and wellness products (examples include lotions, body wash, diet supplements, protein powder, body wraps, breast pumps, curling irons and hair straighteners), non-fashion kids/baby items (examples include but are not limited to toys, strollers, bottles, formula, diapers, and miscellaneous gear) and current airline and airport uniforms and related items (which include pilot, flight attendant, TSA, baggage attendant gate agents, and all other flight and ground crew uniforms)“.
HOW TO SELL ON POSHMARK SUCCESSFULLY?
Now we go to one of the most important parts – learning how to sell on Poshmark.
Of course, now that you already know what Poshmark is all about, and the kind of goods they allow to sell via their online platform, it’s just right that you learn and masters how does selling on Poshmark work.
So here’s a step-by-step guide on how to do it. We promise it’s very easy and simple.
- Download the Poshmark app, and once it’s done, open the app.
- Set up your personal profile.
- Make sure to have your items for sale on your side so you can take a photo of them using your smartphone.
- Upload the photo of the product, and write the appropriate description.
- Check and select the appropriate category, size, as well as color boxes based on your product.
- Input your item’s original price.
- Hit the “List Item” button.
That’s it! That’s how easy it is.
Now, once you are done with all that, the next step is to:
- Wait for customer inquiries or purchase your product.
- Depending on the situation you may either accept or counter an offer if there’s any.
- Once you have accepted an offer, print the shipping label, which will be provided by Poshmark.
- Stick the label to the package and drop it in the mail.
Note that buyers are given three days to mark an item received. Otherwise, it will be marked as received for them.
After all the process has been done, expect your payment to come in. Payments will hit your account the same day you accept the purchase (or in some cases, within three days of tracked receipt). Once the funds are in, you may now request payment either through check or through direct deposit anytime you prefer.
HOW MUCH DOES IT COST TO SELL VIA POSHMARK?
Now here’s a very important thing that you need to know before you start selling via Poshmark. Just like in anything, you have to ensure that you understand how the platform’s fee structure works.
Poshmark fee structure is very upfront. The rule is — for sales that are below $15, the seller pays a commission of $2.95 and keeps whatever is left. Please take note of this so you can include this when pricing your products.
Meanwhile, for sales of $15 and above, Poshmark takes a 20% commission for that, which means, you get to keep 80% of the total sales.
Basically, this is how selling on Poshmark works. Once sales are completed, your earnings are automatically released on the fourth day of delivery to the buyer — which is very fair enough. What you do once you have your earnings will now depend on you. You can either withdraw it right there and then, or keep it until such time that you already need to withdraw the money.
WHO HANDLES SHIPPING COST?
Just like any other online shop or online marketplace, the shipping cost is shouldered by the buyer or the customer. Poshmark offers a flat rate of $6.49 for shipping. But the thing is, Poshmark gives sellers and buyers the freedom to talk and negotiate on who will shoulder shipping cost. There are also instanced when shipping fees are only paid upon delivery of the item.
WHAT ARE THE DRAWBACKS OF USING POSHMARK?
Nothing is perfect. That’s for sure. And so is Poshmark. We found some that what we consider as drawbacks, and here are they:
– You do not get 100% of what you make.
Earlier, we mentioned about making sure you consider the commission of Poshmark when pricing your product. We gave that advice so you still get the supposed exact amount you aim to earn from a product you are selling. Keep in mind all the time that a portion of your sales will be taken by Poshmark. Thus, be wise when pricing your items.
– Your reputation and your business’s reputation does not solely depend on you but the postal service as well.
Poshmail does not have its own shipping service provider. So, basically, you are partially dependent on USPS. You got to trust that the items will arrive safely and on time to the buyer. We say trust because there are instances when sellers catch themselves in unfortunate circumstances like missing and damaged packages.
– The “Make An Offer” can be quite annoying sometimes.
Of course, even if you are the buyer, you will always try to buy an item at the lowest price possible. Thus, you have no choice but to deal with customers making an offer. It can be quite time-consuming sometimes especially if you receive a lot of them. By the way, as mentioned earlier, do not forget to take this into consideration when pricing an item as well.
– You are only limited to certain types of products.
Unlike the more popular eCommerce sites, Poshmark is very focused on particular products only, which means, as a seller, you are only limited to selling what’s allowed according to Poshmark’s rules. So, before hitting the sign up button, make sure to be fully aware first of what is and what is not allowed.
FINAL THOUGHTS ON HOW TO SELL ON POSHMARK
It is not surprising that the eCommerce industry is growing over the years. Thanks to digital technology and the internet, selling and buying items or products is just within your fingertips.
Poshmark, although relatively new, is quite impressive when it comes to its reach. With over a billion users to date and quite a good ration between sellers and buyers, it’s definitely something worth trying out.
Although it has its set of restrictions when it comes to products being sold through its platform, Poshmark continues to grow, which is a good sign for the company. We won’t be surprised if one of these days they become the next most sought-after eCommerce platform – next to the big names in the industry today.
Anyway, are you planning to try out Poshmark? How do you find it so far based on what we have shared? Are you convinced to try it out?