Amid uncertain economic situation, more and more people especially young ones or Gen Zs are moving toward side hustle.
According to one stat, 34% or one in three Americans have a side hustle as a safety net. As a matter of fact, online reselling is one of the top side hustles because it’s a simple business model, easy to start, and highly profitable. However, the key is to find a good marketplace to resell your items.
In this blog, we are going to discuss one of the top online marketplaces for reselling, Poshmark. Not only we will discuss all you need to know before getting started on Poshmark as an online seller but we will also find out if it’s really easy to sell on Poshmark or not.
Key Considerations to Make Before You Start Selling on Poshmark
1. Casual Selling vs. Serious Business
If you are looking to declutter your closet and make some extra pocket money, Poshmark is indeed a great marketplace. You can list items at your own pace and potentially earn more than you would at a traditional consignment shop. However, if you’re aiming for a substantial income by doing something as a serious side hustle, get ready to invest your time and effort.
2. Importance of Presentation
One key factor in successful Poshmark selling is top-notch presentation. Buyers on Poshmark are more likely to be drawn to a listing with clear, captivating photographs that display the item from multiple angles. For instance, a leather jacket might be more appealing when photographed in natural light, displayed on a hanger, with close-ups of unique details or brand labels.
3. Understanding the Science of Descriptions
Creating detailed, keyword-rich titles and descriptions is paramount for getting sales on Poshmark. Instead of simply writing “Blue Dress,” consider writing something like “Zara Women’s Midi Wrap Dress, Royal Blue, Floral Print, Size M, Perfect for Summer Weddings.” This approach will help your items appear in more search results and increase the chances of a sale.
4. Time Investment and Sharing
Poshmark’s algorithm favors active sellers who regularly share their listings. This means you’ll need to dedicate a few hours of your day to share your own items and join Posh parties. While this is often time-consuming, it’s often necessary to maintain the visibility of your Posh closet and drive sales.
5. Pricing and Negotiating with Buyers
As a seller, you must be fully aware of Poshmark’s selling fee structure and how the pricing game works on Poshmark. Moreover, be prepared for Poshmark buyers to make offers below your listing price. A dress listed at $50 might receive offers around $35-$40. It’s better to decide your bottom line in advance as it will help you make better negotiations with interested buyers.
6. The Sourcing Game
If you are serious about turning your Poshmark closet into a serious income stream, you’ll likely need to move beyond selling just your own items. This means sourcing inventory from thrift stores, estate sales, or even wholesale suppliers. While this will help you increase your sales and profits, it also requires more upfront investment and market knowledge.
Is It Easy to Sell on Poshmark?
Selling on Poshmark is relatively easier than most online marketplaces, but success depends on various factors. Poshmark as a platform is very seller-friendly and as a seller it won’t take you long to set up the account and start listing items. Even the process of listing items is straightforward, simply upload photos, add descriptions, and set prices.
However, getting consistent sales on Poshmark requires consistent effort and a solid strategy. You need to invest time in taking good photos that appeal to buyers, writing detailed descriptions, and pricing items competitively. Moreover, you need to spend some time following other Poshers and engaging with them through likes, shares, and comments to increase your Poshmark closet visibility.
One of the challenges that you might face as a seller is standing out in a crowded marketplace. There are around 8 million active sellers on Poshmark so the competition can be fierce, especially for popular brands or items. So, as a seller, you have to be proactive in sharing your listings, adjusting prices, and offering bundles to attract more sales.
You also need to be considerate about Poshmark fee structure as a seller. While it’s simple to understand – a flat $2.95 for sales under $15 and 20% for sales $15 and over, you might find these fees high compared to other marketplaces. Especially, when you are selling lower-priced items.
In addition, the platform’s focus on social interaction is both an advantage and a drawback. While it allows sellers to build better relationships with buyers, it also requires consistent time and effort to maintain an active presence. This aspect can make selling on Poshmark more time-consuming than on some other online marketplaces.
Frequently Asked Questions (FAQs)
Is Poshmark a good marketplace for beginners?
Yes, Poshmark is indeed a good marketplace for beginners, especially if you are interested in reselling pre-loved fashion clothing and accessories. Moreover, Poshmark offers social network features that make it even easier for new sellers to get started.
How much money can you realistically make on Poshmark?
If you can crack what sells best on Poshmark and how the algorithm works, you can easily make $500 to $1200 in profits by doing $1500 to $2500 in sales.
Do you need to invest money upfront to start selling on Poshmark?
Yes, you might need to invest some money upfront to buy inventory to list and sell on Poshmark. However, Poshmark doesn’t charge any fee for listing items on its marketplace.
