How to Make Money on Poshmark
Can you really make money on Poshmark? Absolutely! We have been resellers nearly are entire life. I started reselling back in high school on eBay, at the time this was the only platform available. With the technology evolving on a daily bases over the past 10 years there are numerous secondary platforms to sell on such as Poshmark. In this post, we will cover all of the tips and tricks we have learned over the past years. Let’s dive on in and LEARN how to make money on Poshmark!
What is Poshmark?
Poshmark was founded in 2011, and as of 2019 has 50 million users. Poshmark has built a strong presence as a selling market place in a short time frame. The overall idea at first was to take unwanted items from your closet at home and list them in your CLOSET on Poshmark for sale. An example would be taking a pair of designer jeans that you do not wear often and listing them in your closet on Poshmark. Poshmark has a very social media resemblance similar to Instagram. Unlike many other selling platforms, Poshmark is based around sharing, following other users, and liking. Selling a few items from your personal closet may pay for your next wine night out with the girls or you’re next trivia night with the guys. But can you turn selling on Poshmark into a business? Absolutely!
How Much Can You Make On Poshmark?
The possibilities are unlimited, the biggest variable with reselling in general on Poshmark or any other platform is the time that you put in. One of my favorite sayings, “The amount effort you place into something, is the amount of return you can expect”. If you place little effort into selling on Poshmark or reselling in general you can expect basically the same outcome, little sales.
My wife and I have been resellers for over 10 years together, and have sold on Poshmark when it was first launched in 2011. At first, we started with a few hundred dollars a month on the platform and now have an average of monthly sales of $8,500. There are many sellers who sell well above what we sell, it’s all about the time you place in. Let’s take a look at some sellers on the platform and their average monthly sales.
Looking above as you can see full-time sellers can make a significant income from selling on Poshmark. Poshmark user @scanon became the first user to have grossed over a $1 Million in sales on the platform.
I know what you’re thinking how do I get to that level?
The key to reselling on any platform really comes down to selling items others want and at a price point they are willing to pay, that’s it simple huh? I’ll admit it takes work and effort to grow to a level that you can begin to pay for a mortgage or your monthly car payment with.
Poshmark is a Very Social based Platform.
Poshmark is all about interaction! Successful sellers on the platform are very active these sellers are following other users and sharing listings on a daily basis. Many users also build a brand around their business on Poshmark by sharing on Instagram, Facebook, Pinterest, and Twitter. The more you market your listings the more views you will have.
Where To Find Items to Sell on Poshmark
When you are first starting out on Poshmark many sellers will begin to sell items from your personal closet. This is a great way to get the hang of the platform. You will soon run out of items to list or sell on the Poshmark. Many sellers on the platform visit thrift stores and hunt for popular branded items that they can purchase for a few bucks or less then flip on Poshmark for more. Sellers also search clearance sections in stores such as T.Jmax, Marshalls, and Nordstrom rack tp purchase items to flip on Poshmark. We have put together a complete guide on sourcing for Poshmark. Sourcing for Poshmark.
What to Sell?
Buyers who come to Poshmark are looking for a deal! A buyer is not coming to Poshmark to pay the full retail value of an item when they could go directly to the retailer to buy the same item. Designer brands sell very well if priced right! A few brands that sell well on Poshmark: lululemon, Coach, Michael Kors, Nike, Tory Burch, Kate Spade, Free People, J. Crew, and Louis Vuitton. This is not to say other brands do not sell well you just want to avoid brands such as Old Navy. You can sell just about anything if the price it right! One of the best ways to see what’s trending on Poshmark is by visiting the published trends reports. Poshmark Trend Reports
Poshmark recently launched a home market as well, so its not just about clothing on Poshmark.
Poshmark Selling Tips
In our blog, Poshmark Selling Tips we cover the top 17 tips to follow when becoming a seller on Poshmark. The top 3 tips on our list are Photos, Title, and Price!
1) Photos – Your photos will need to catch the eye of your buyer. Photos are the first impression a buyer will have before even clicking your listing. Take time to style those photos.
2) Listing Title– Did you know that items listed on Poshmark are searchable on google as well? Only if the title is built well!
3) Price – Without proper pricing of your items in your closet or over-inflated prices compared to your competitor’s buyers will pass over your listings.
Making money on Poshmark will take time at first. If you place an hour of time into building a business you can expect little results. Part-time sellers are placing an average of 10 hours a week at a minimum. One of the best pieces of advice I can pass along is that you will sell more if you list more! You may only sell 1 item a month with 10 items listed in your Poshmark closet. Looking at sell-through rates compared to the number of items listed. A great benchmark is a 1% sell-through rate. If you have 1000 items in your closet you can expect to sell around 10 items daily. Keep in mind those 1000 items need to have the right price, great photos and need to be desired brands.
If you liked our How to make money on Poshmark post, Check out all of our other blogs and resources for selling on Poshmark below.
Sourcing for Poshmark
How to Increase Poshmark Sales
Increasing Followers on Poshmark
Celebrities on Poshmark
Learn To Ship on Poshmark
Becoming a Poshmark Ambassador
