Poshmark brings a solution to the most pain-staking task that troubles fashionistas: cleaning out a closet stuffed with amazing clothes. The ecommerce site and application allows its users to create their own at-home consignment shop in under sixty seconds. It allows fashion-lovers to connect and “open their closets for sale.” By using their mobile phone, users can upload photos of items and make sales virtually bringing profit to the swipe of their fingers.
Over the past year, Poshmark has seen nothing but success. With projections of over one million items exchanged and more than ten times the amount of ‘closets’ listed the company hopes to keep expanding its client base. Currently, the company has over 250,000 sellers creating virtual closets for sale. Keeping users trendy is easily done by “posh”ing away their used clothes to keep their “wardrobe fresh.” The company has brought success to many sellers by generating profit for their consignment sales and as much as $20,000 a month for a select few closets.
The new iOS7 app brings a new design for Poshmark. It brings an update to the application and allows users to sells clothes faster than ever. It has allowed users to communicate and create relations around clothing, fashion, and the love for style. With reports of level of engagement of the apps activity rising; the company has realized that it’s not just selling clothes, but it’s creating a real-life personal sale through a mobile phone. CEO Manish Chandra stated, “We don’t think of our community as a group of statistics, but as passionate, inspiring entrepreneurs. The deep, meaningful relationships that are being created within our marketplace are redefining how fashion is consumed, making the shopping experience more personal than ever before.”
The Poshmark app has its own edge unique to the world of retail. With individual retail “closets,” the brand has essentially created mini marketplaces for consumers shop at. Currently, Poshmark’s 250,000 shops are more than “2.5 as many fashion retail stores that exist in the U.S.” The app is allowing users to create their own boutique for very little cost. Poshmark ultimately is bringing threat to retail stores in the U.S. stating in their press release that “40 percent of independent retailers are doomed to fail within the first five years.” A Poshmark user and ‘closet entrepreneur,’ Jackie Piper stated, . “The app has completely changed the way I look at my closet. I never thought my passion for clothing could be anything but a hobby. Now not only am I doing what I love, but since it’s all on my phone, I can travel along with my husband’s job allowing me to be anywhere and still make significant money.”
The 23/7 sales place has a strong advantage to a normal consignment or retail shop. With ease and accessibility shopping in thousands of different stores has never been so easy. The real life connections of clothing are ireplacable and result in 70% of Poshmark users being both buyers and sellers on the app. Chandra concluded, “We have taken a very real-life, personal approach to building a community that started with dozens, then grew to hundreds, then thousands, and now millions of members – and still growing. It’s been absolutely essential since the beginning for us to maintain that feeling of closeness, empowering each woman who uses our app.”
By Samara Freschman