If you want to still have a viable Poshmark business in 2024 and beyond, then there are certain things you need to know… and even more; if you want to make high-volume sales consistently, then there are six things you absolutely must know, and we would be covering them all in this article.
There used to be a time when you could just share your closet, sit back, and watch the sales roll in. But, those days are way behind us. You have to do more than just sharing, to get consistent sales on Poshmark nowadays. And this is not to scare you off, as you’ll be seeing that while there are more tasks to do now, it’s also easier than ever to do them – ironically.
The sales strategies you can expect to be effective in 2024 are a combination of new features, updated features, and classic techniques that have stood the test of time. Namely;
Don’t Put All Your Eggs in One Basket
This is probably the number one unwritten rule of reselling. You don’t want to just list on Poshmark alone. You don’t want to list on any one platform only. Anything can happen. Poshmark recently sold to Naver, introduced Promoted Closets, closed up shop in three countries, and had a series of algorithm iterations, all within the space of a year!
Poshmark is one of the easiest platforms to sell on and we’re optimistic about the future but anything can happen. Therefore, it’s always a good idea to list and build a reputation on other platforms like eBay, Depop, Mercari, etc. so that you’ll always have something to fall back to, in the event of misfortune.
And even if you never encounter any issues with/on Poshmark, crosslisting is still an effective way to get more sales quickly. Crosslisting is a no-brainer with an app like Crosslisting.com, which copies all the images, titles, sizes, and descriptions to your desired platform automatically. And that’s not all… It also de-lists your listing automatically from other platforms once the item sells on one platform. Try it out for free when you install the app here.
Posh Shows – LIVEstreaming Will Be King!
If top six-figure sellers are citing Posh Shows as their biggest sales channel of 2023 – its inaugural year, then you can expect a surge in 2024, especially with the upgrades Poshmark keeps making to it.
With new features for Poshers to run joint live shows, exclusive show pricing, polls, and more. You can bet that Poshmark will only favor the shows even more with all this investment into it.
Therefore, the Posh Shows is something you don’t want to sleep on. And if for whatever reason you don’t want to be on camera or just don’t have the time to do the shows every day, then don’t worry, as Posh Sidekick can run the shows for you on autopilot while you’re away! Yes, there was no typo in the last sentence… You can use Posh Sidekick to run Posh Live Shows that don’t require you to show your face or even be there.
Posh Party “LIVE” Is Coming…
Another new feature Poshmark is rolling out for beta testing is the “Posh Party Live” which combines elements of Posh Shows with traditional Posh Parties, giving you more ways to connect, drive more traffic to your coset, and ultimately make more sales.
We can expect this to be available to everyone by next year and it’s something you definitely should harness once you have it available to you.
Use Irresistible OTLs If You Aren’t Already
Offers to Likers (OTL) are nothing new to savvy Poshers but there are still some things you can start doing differently with OTLs going into 2024.
One of them is to start giving out irresistible offers. That is, instead of the regular 10% or 20%, you want to give out 30% to 50% discounts. We’ve seen that work like magic and that’s also the key ingredient behind the success of Posh Shows. People love to feel they got a great deal, and if you can make them feel that way, they’ll buy from you.
You also want to send out these offers within 10 minutes of a prospective buyer liking the listing, not hours later. This is to help maximize your chances of getting the sale while they’re still hot in buying mode not when they’ve moved on to some other closet or lost interest.
If you’re thinking you don’t have the time and energy to be sending out all these offers every 10 minutes, you’re not alone. Thousands of sellers use Posh Sidekick to automate sending offers to likers and you can do the same. You set different percentages for different listings and have them go out within your desired timeframe.
Sharing Isn’t Going Anywhere
While sharing isn’t what it used to be, you still can’t write off its importance. Yes, a lot of eyeballs are going to the live auctions but there are still a lot of people scrolling their feeds and many more searching searching for items you probably have in your closet. So, sharing puts you atop those search results, thereby, getting you more exposure and sales.
You want to do self shares, share backs, community shares, and party shares. All of which can be automated using Posh Sidekick.
Promoted Closets Will Be Bigger Than Ever
Poshmark recently reported that the sellers who beta-tested Promoted Closets experienced an average of 80% increase in total listing views. That’s a lot of exposure but sellers are complaining it gets pricey when you factor in Poshmark’s fees and cost of goods.
We predict that Poshmark is going to favor Promoted Closets and push it out even more, not roll it back, because their new owner, Naver, is South Korea’s biggest search engine, and if you know anything about how search engines make their money, then Promoted Closets being a mainstay shouldn’t be a tough call.
But the good news is that you don’t have to use Poshmark’s Promoted Closets if you don’t want to. Posh Sidekick has something better called Promoted Listings which gets your preferred listings shared by up to a thousand different closets unlike Poshmark’s which picks your listings randomly.
As we gaze into the future of Poshmark reselling, the path to success in 2024 is filled with a blend of livestreaming, paid promotion, and classic techniques.
Posh Shows take center stage, evolving into a formidable sales medium, complemented by the upcoming Posh Party LIVE and the expanding influence of Promoted Closets.
To capitalize on these trends, Posh Sidekick and Crosslisting.com, emerge as invaluable allies, not only in automating live shows but also in offering Promoted Listings, sharing, crosslisting, and more.
As Poshmark undergoes transformations, it would be wise for resellers to innovate, so as to thrive in the ever-evolving world of fashion commerce. Ready to seize the opportunities of 2024? Install Posh Sidekick and Crosslisting.com and get a free 7-day trial with no credit card required!