Poshmark is a fashion e-commerce platform located in Redwood City, California. It sells clothing and accessories, including second-hand T-shirts, high-end boutique women's clothing and private labels. Consumers can bid on the products and it is known as the overseas version of "Xianyu".
-In December 2011, Poshmark released an iPhone terminal based on the iOS operating system based on the web. The number of product users quickly soared. At the same time, Poshmark also stated that other terminal versions such as iPad and Android platforms are also officially on the agenda. Poshmark is positioned as a convenient and fast second-hand trading platform, with mobile terminals as its focus.
-As of December 2012, Poshmark had 20 employees, and users of its existing iOS app and web terminals uploaded products for sale with a total value of more than $100 million each year, and 25% of the products were eventually successfully sold. At the same time, according to its internal data, 70% of customers who have purchased things on Poshmark will in turn become Poshmark sellers.
-In 2012, Poshmark online trading platform completed transactions of more than 100,000 products, with a total transaction volume of more than US$25 million.
In September 2013, CEO Manish Chandra revealed that the company's mobile app (currently only available in the United States) already has 250,000 active female users who are very active in selling their unwanted clothing and spend more than 30 minutes on Poshmark every day. In October, Poshmark's employee count exceeded 50. Currently, its service scope is still limited to the United States.
-In November 2013, Poshmark released the Android version of its online terminal.
-In 2018, the company stepped up its expansion into the Asian and European markets.
Poshmark’s platform features:
1. Poshmark will collect user data to provide consumers with personalized clothing suggestions, and independent stylists will give consumers professional fashion advice.
2. Poshmark looks more like social media than a marketplace platform. For example, users are invited to browse friends' items and see what others are buying. The company's business model is also different.
3.Poshmark does not purchase any inventory. Poshmark hopes its platform will simulate the in-store shopping experience, complete with stylists and a huge selection of merchandise.
4.Poshmark is exploring other markets besides second-hand luxury goods. Some designers are selling new pieces on their platform. Currently, about one-third of the products sold on the Poshmark platform are new.
This is the end of the introduction to Poshmark in this issue. If you want to get more information about Poshmark, please continue to pay attention~
