I started listing items on Poshmark the first part of February, and I’ve had 6 sales since then.
Although that’s not a lot of items, it’s a good start. I’m also learning a lot more about how Poshmark works, which should definitely help increase my sales.
Poshmark charges $6.49 for priority shipping for each purchase, so it pays the buyer to combine items (or bundle) to save on shipping per item. The seller receives a notification when a buyer bundles one or more of their items. The seller can then choose to make a lower offer then the list price for the bundled items if they choose to, but they don’t have to. Sometimes the buyer will counter with another offer, sometimes they decline, and sometimes you just don’t hear from them. Some buyers make an offer to the seller when they bundle items. You have the same options to accept, decline, or counter their offer.
I am invited to at least 4 Posh parties a day. A Posh party is a time frame when you can share items that you’ve listed of a certain category, and buyers interested in that category will be watching to see what is listed. For example, at 4:00 p.m. today there is a “Men’s Style Party”. The party guidelines for this event is that you can list or share any item that you have for sale as long as it’s men’s. While the party is active, you simply share the items you have that qualify for the party, with the hope that a buyer looking for men’s items will see something they want and buy it. Some Posh parties are for specific brands. At noon today there was a party “Sephora, Urban Decay, MAC & Mint Pear Beauty Party”, which means you can only list or share those brands during that time.
I just received an email from Poshmark as I’m writing this blog. They now have a new option called “Offer to Likers”. You can hold your own private flash sale by discounting your items by at least 10%, and then that offer will be sent to anyone that has liked that item, but only them. A buyer that hasn’t liked that item will not see the discounted price. You also need to discount the shipping to qualify for this option. I just might have to give it a try!
Fees and Your Balance
Poshmark doesn’t charge for insertion of a listing. They don’t charge unless you make a sale. For any sale under $15, Poshmark charges a flat $2.95 fee. For a sale over $15, Poshmark receives 20% of that sale. What is left goes into a pending account. When the buyer receives the item, they mark it as received, and Poshmark releases the pending amount into your redeemable balance. It will stay there until you choose to redeem it by transferring it to your checking account, or requesting a paper check be sent to you. So far, I’ve decided to just leave it there to grow for now. Etsy and Amazon send my balances to my checking account weekly, and eBay’s is in my Paypal whenever I need it. I think leaving Poshmark in the account to grow is a good idea.
I’m going to be continuing to look for other platforms in which to sell on. There are dozens of them to choose from. I will let you know what I learn.