Are you wondering how to make money while selling products online and make the most of 2024? Then, Poshmark should be on your list! We’re here with a beginners’ guide on how to sell on Poshmark in 2024.
Poshmark is a social marketplace platform that can help you sell products online. In particular, the product categories include fashion, beauty, home decor, etc.
How easy is it to sell on Poshmark? Honestly, while the process is easy, it can initially seem challenging to a novice.
Why Sell On Poshmark?
People are increasingly shopping online. The below data showcases how the global e-commerce market is expected to reach $57.22 trillion by the year 2032.
In the e-commerce market, Poshmark stands out from the others based on its page views. As of November 2023, Poshmark receives 58.9 trillion monthly page views per month. That’s massive! Additionally, people visit approximately 6 pages for every Poshmark visit.
Pros
-Poshmark does not charge any listing fees.
-Sales tax is automatically calculated, collected, and remitted to the state by Poshmark. Hence, you can stay worry-free.
-Buyers are protected from fraudulent practices, so you can establish trust.
-Under Posh Protect, buyers have 3 days to inform if they have received a product that is not what they had ordered. After this period, no returns are allowed. Not to mention, the policy can protect you from excessive returns as a seller.
-Poshmark handles financial transactions for sellers, including prepaid, pre-addressed shipping labels and has a dedicated customer support team for buyers.
-The platform offers convenience to buyers. They can print prepaid shipping labels, pack items in any box, schedule a pickup, and even drop items at the post office/mailbox.
-Poshmark is a fast service, and it offers delivery options between 1 and 5 days through USPS Priority Mail and USPS Ground Advantage.
-You can become a Poshmark ambassador and encourage new users to become a part of the Poshmark community. Plus, ambassadors receive access to an exclusive newsletter, get access to new programs, and get recommended to new Poshers. (users)
Cons
-Poshmark charges a commission on sales, which means you lose out on money as a seller. The amount is $2.95 for products priced under $15 and 20% for all products priced above $15.
–Over 100 million items have been listed on the platform. It is important to realize that there is a high level of competition on the platform.
How To Set Up A Profile On Poshmark
1. Set Up Your Profile
Create your Poshmark profile by entering your details, like your name, email address, and country. Once done, you will be able to view the “Complete your Profile” section.
After filling out the details, update your profile and cover photos. Next, introduce yourself in your bio and mention the products you sell, along with your social media handles.
2. Create Product Listings
Once you’ve created your bio, it’s time to create product listings. Undoubtedly, you’ll need high-quality photographs. So, take multiple photographs, preferably from multiple angles. Then, you can upload them from your phone’s gallery, as explained in this video.
Photo Tips:
-Choose simple and clean backgrounds.
-Adjust the brightness, sharpness, vibrance, and contrast in your photographs until you’re happy with their quality.
-Try to take photographs in natural lighting.
-Crop out any elements that are not required.
-By all means, ensure that all images are the same size so that they look visually appealing.
-Use Poshmark’s filters for enhanced photo effects.
Now, if you sell apparel, you’ll want to know whether it is easy to sell clothes on Poshmark. So, here’s a tip: showcase clothing items worn by individuals, not just the clothes.
Coming to another key point: listing your products. Here’s how to list your products:
Through The App
-Click on the sell button in the app.
-Take a photo of the product you want to sell and upload it.
-Mention the title and product details. Details should include item color, size, dimensions, and whether the product is new with tags (NWT) or new without tags. (NWOT) Moreover, for clothes, consider adding the country of origin, washing instructions, and details regarding fabric or washing instructions. Then, click on “Next” and then decide if you want to share your listings (we’ll discuss sharing listings a bit later). Finally, click on “List.”
Through Desktop/Web
-Click on “Sell On Poshmark”, located on the top left corner of the screen.
-Next, upload your photographs.
-Mention details like titles and product descriptions.
-Finally, click on “Next” to list your item.
3. Share Your Listings
You can share listings through your social media accounts, email, or by sharing stories on Posh.
4. Go Through Offers & Counter Offers
Once you’ve listed your products, buyers may showcase their interest in them. Afterwards, you have the choice to accept their counteroffer or reduce the price for the buyer. At the same time, it’s important to not leave your buyers waiting for a response, or you may lose them.
5. Ship Your Products
After you receive payments from buyers, prepare to ship your items! Additionally, remember to attach shipping labels to packages. Moreover, you can also set shipping label settings, like whether you want to incorporate a shipping QR code, a printable label, etc.
6. Set Up Your Payments
Once buyers accept your products, earnings will subsequently be deposited in your Poshmark account.
Poshmark accepts multiple payment methods, like credit or debit cards, Apple Pay, Google Pay, PayPal, PayPal Pay Later, Affirm, Venmo, and Poshmark Gift Cards. Post the 3-day waiting period when buyers can raise an issue, funds are automatically released to your account.
How To Increase Sales On Poshmark In 2024
Need tips for selling on Poshmark in 2024? Read on!
1. Participate In Posh Parties
Hosted for a few hours, Posh Parties are real-time networking events where users can meet up through the Poshmark application to interact and shop. At the moment, 4 parties are hosted in a day. The timings are 9 am, 12 pm, 4 pm, and 7 pm PST. Know more about them here.
2. Use The Posh Shows Feature
Currently, Poshmark lets users in the U.S. and Canada shop and sell live. These shows are in the form of auctions, and anyone can bid or enter their custom bid. Furthermore, the product is sold to the individual with the highest bid. Also, shoppers can ask questions, comment, follow sellers’ closets, and preview or search for listings.
3. Offer Bundle Discounts
While you may price individual items high, you can offer them at a slightly lower rate than their usual cost when you sell them as a bundle. Also, customers may be attracted towards discounts and this strategy may be all you need to give your revenue a boost.
4. Follow Trends
While you’re on Poshmark, analyze which brands are especially popular in your industry. Also, if you see that some products are selling more than others, try to incorporate similar features in your products as well.
5. Participate In Poshmark Closet Cleanouts
Poshmark aims Closet Cleanouts at buyers who search for discounted products. The promotions take place for a set number of days, and the events take place 2-3 times per week. Also, it is easy to sell clothes on Poshmark through these cleanouts. While the product must be priced at least $10, the seller also needs to drop the price by at least 10%.
6. Send Offers To Likers
Users can like products that interest them. Not to mention, Poshmark provides sellers with the option to send discounts to likers through free or discounted shipping.
To illustrate the above concept, we’ve mentioned the steps you can follow to send offers to likers below.
- Click on Offer/Price Drop on your listing page
- Next, click on Offer To Likers.
- You’ll have to reduce your current price by at least 10% and subsequently create a shipping discount.
- Hit publish.
FAQs
Q1. Who pays for shipping on Poshmark?
The buyer pays for the shipping, excluding certain specific circumstances. Moreover, if you sell a product that weighs over 5 pounds, use expedited shipping, or make use of Poshmark’s “Make an Offer” feature, you may have to cover a few or all shipping costs.
Q2. Is it easy to sell on Poshmark?
Anyone can get started on Poshmark. It’s easy if you have the right products, quality, and mindset to understand how you can make your product stand out in the market.
Q3. Does Poshmark require me to pay taxes?
Yes, Poshmark automatically calculates, collects, and submits state and local taxes on behalf of sellers. Remember that a 1099 form must be submitted to the IRS. (for The United States)
Q4. Can I trade on Poshmark?
Yes, Poshmark permits trading. However, it is not covered under the Posh Protect policy, and the buyer has to pay the standard shipping fee for trades.
Q5. Can pre-owned items be listed on Poshmark?
Yes, pre-owned items can be listed. However, items must be clearly represented. In addition, you must ensure that makeup and personal care products are new and alcohol/aerosol-free. Additionally, liquid products must be new and in their original sealed packaging.
Q6. How Much Can I Earn Through Poshmark?
There is no defined number as to how much money one can make using Poshmark. The revenue depends on multiple factors, like the quality of the products, the reputation of the seller, and their pricing. However, initially, you can refer to this formula to make your first $1000:
Selling Price-Poshmark Fees-Shipping Cost-Cost Of Item=Profit
$1000 divided by 30 days in a month is $33.33, so this should be your earning per day.
Q7. Do I need a business license?
No, it is not mandatory for Poshmark users to possess a business license.
Q8. What can I not sell on Poshmark?
Poshmark has prohibited these products:
-Counterfeit products
-Food and drugs
-Over-the-counter medicine, prescription drugs, and prescription-related paraphernalia
-Fake items
-Airline costumes
Now, you must’ve had a better understanding of how to make money and increase sales on Poshmark, how easy it is to sell on Poshmark, and tips for selling on Poshmark in 2024. However, remember that like any other company, it takes time to get a hang of how to sell on Poshmark.