As you may or may not know. I sell my old clothes, clothes that don’t fit, clothes that don’t fit my style anymore, and clothes that I am to lazy to return to the store in time, online on Poshmark. You can always check out my poshmark store, here.
But what I want to write about today, is my experience as a postmark seller and a few things that I have learned now that I have been on the app for about a year.
Poshmark is a buyers market - Unless you have some rare luxury good, or some super cool designer vintage item or something along those lines, it's a buyers market. It is very obvious that poshmark is more popular than ever, and that more often than not people are looking to get rid of their clothes and turn a profit than people who are trying to expand their closets. With that, you have to be realistic about your asking prices and what you are willing to settle for, otherwise, you will get a bunch of low ball offers and start taking offense to that. But with it being a buyers market versus a seller's market, all someone has to do is click on over to another closet and they will find someone who will meet their price, and you are stuck housing and trying to sell an item that you may not even really want around anymore.
You have to know what your bottom line is - Unless you are one of those career poshmark sellers who know what they are working with, who search salvation armies, garage sales, consignment shops on the regular, you have to know what your bottom line is. By knowing what your bottom line is, I mean knowing what the lowest amount of money you will settle for that is realistic. Cause let's be honest here, no one is going to buy your funky forever 21 jeans for 80 bucks, you gotta be real here. Plus knowing your bottom line, allows you to set your asking price accordingly, and lesson the offense when someone offers you less money than what you think you deserve.
Set your price according to your bottom line - Once you know your bottom line, you know what you can set your asking price as. For example, for a pair of jeans, I will want to net $12-$15 dollars, so I will typically set my asking price at $20-$25 dollars, knowing that poshmark is going to take a percentage of my sale. The best part about this is, with the asking price is, as you go to list an item poshmark will tell you how much you can expect to gain from the sale, and that allows you to mentally figure things out better, as the math doesn't have to be done, and it’s right there for you. Knowing my bottom line ahead of time helps when I do get the $15 offer on new pair of jeans with tags attached, that way I get what I want without feeling like I have to settle.
Haggling is not worth it - I don’t feel like haggling is worth it. Poshmark allows you the space to go back and forth with a person on an offer a couple of times. If they give you an offer, you can counteroffer, and then go back and forth a few times. The downside is, that if you counteroffer and the buyer does not accept within 24 hours, you lose that sale. Also, people are petty and cheep and will nickel and dime you bit by bit until it's not even worth it anymore. Once this happens, and you lose out on a sale you again are stuck with items that you may or may not really want or even have space for.
Someone buying your item outright is rare - I have been selling on poshmark from about a year now, and I have had my items bought outright, no haggling, no offer twice. It’s a great feeling and is awesome when it happens because its less work, but in reality, it is rare. It doesn't happen, but it does act as a welcome surprise.
You have to be active on poshmark to get sales - Putting your items up and waiting for them to be bought is the wrong way to sell on poshmark. As much as you would like poshmark to be passive income, it is an active income. The times at which I get the most sales are when I am interacting with the app compared to not interacting with it at all. So my best advice is to share, like, and follow as much as you can every day.
Poshmark sends a lot of alerts, most aren’t sales - Most of the alerts I get from poshmark are for someone liking my items or sharing my items or those items that I have liked in the past people are lowering the prices and trying to make deals on. It gets a little annoying, but the ones for shares are a good start as well, sharing items of others helps with the social aspect of the app.
Don’t fall into the poshmark loop- With all of the items on poshmark, it is easy to fall into the loop of selling items and then buying other items with the credits you have. Unless you want to sell to shop, this could mean that the extra income you are trying to make is getting spent up, and if an item doesn't fit or work out exactly right, you are stuck with it. Poshmark’s return policy isn’t that good in that way, and you can end up trying to resell something that you ended up buying because you fell into a poshmark loop.
Have a gimmick - Part of poshmark is making sure you remain a seller with higher stars. Being a lower-rated seller is going to make selling your items that much harder. Anyway, poshmark advises you this as well to make your packaging as pretty as possible and into include thank you notes. Now everyone does this a bit differently, I choose to include a handwritten thank you card in every package, while others will use things like thank you stickers. Nonetheless, have something that makes your packaging a little bit special. It also doesn't have to be anything expensive or anything to ornate, just something to be a little bit cute with your buyers.
Try your best - So I think the biggest piece of advice is to just try your best with poshmark selling, someone will buy your things it may just have a manner of patience. You don’t have to put in all of the effort, just enough effort. It works out, and you will be able to make something.
These are some of the things I have learned since being on Poshmark, as well as some of my best poshmark advice.