05 Sep

Update: The Poshmark Experiment

Have you ever bought or sold on Poshmark?

I mentioned a while back that we were experimenting with Poshmark. We set up a good process to check in our returned inventory, open cases requesting reimbursement where appropriate, and started listing our unfulfillable returns on Poshmark – shoes that were returned without the box by Amazon customers, or apparel that came back missing manufacturer tags.

While it does take time to create listings one by one for EVERY SINGLE ITEM (are we spoiled by Amazon or what?!) we do feel it’s worth the time and space we’re investing. Overall, we’re selling about 2% of our listings each day and we’re generally close to recovering our cost of goods. It’s not profitable, but it’s a far smaller loss than other liquidation methods we’ve used, and we’re pretty happy about that.

When it’s time to list, our local crew uses a phone to take photos directly in the Poshmark app. They create a fast, basic listing and include the UPC or LPN (Amazon’s ID for that specific product in our inventory) so that we can later flesh out the details and improve the title.

We estimate it takes about 6-8 minutes to create a listing when we’re on a roll. Listing similar items together seems to help with speed. We’re also experimenting a little with bundles on lower cost items to make them worth listing and shipping.

Our local and virtual team helps with all aspects of managing our account, and does a fantastic job. They share our listings, participate in community sharing and targeted following, answer questions from potential buyers, make offers and counteroffers, accept offers, and ship orders several times per week.

We became Posh ambassadors in less than a month, and have quickly grown to over 10k followers. Now we’re gaining about 100 new followers each day, mostly organically.

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