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When I first listed items on my Poshmark, I felt scared because I had no idea what to expect. Would I be able to sell anything? Would I actually get followers?
Now, after a month of being on Poshmark, I’ve made about $275 and this is what I’ve learned.
It Normally Takes a While to Make Your First Sale
Unless you already buy extremely trendy and expensive clothing, it will take a while to figure out what sells. It also takes a while to learn how to price everything. But don’t be alarmed! It’s okay if your first sale takes a week or longer to sell!
For me, it took exactly one week to make my first sale, and it was on an item from my own closet. The items I purchased from thrift stores ended up being the types of brand names that everyone tries to sell. For example, I had brands like Ann Taylor, LOFT, Banana Republic, Target brands, Jones NY, Ya Los Angeles, and Gap. Not that these brands won’t sell, but they need to be trendy pieces and in-season to really make it worth your while.
Spend More Time in the Thrift Store Curating
When you first start, you probably will be really excited to get in the thrift stores and find your gems. That’s a great sign that you’re going to love selling in the long run! However, over time you will learn to spend more time thinking about multiple elements like the Brand name, whether or not the style of the clothing is trending, the condition of the clothing, how much it costs, and how much you can sell it for on Poshmark.
If, for instance, you find a Free People brand shirt but it has a couple of stains, chances are that the time it will take to remove the stain may not be worth the return on investment once it sells. You may also find that some lower brand names might have some highly sought-after pieces and could sell for more than usual. It just takes time to learn what is selling and to run comps in the store.
What does it mean to run comps, you ask? In PM, there’s a nifty little filter tool where you can choose the items that have already sold. Instead of looking at current listings of your item, filter to see only the sold items to see the actual sell price. Many people over-price their items and shouldn’t be used as comparison sellers.
Once you find your item or similar items, take their sell price and round it up at least 15%. This gives you some wiggle room for sending 10-15% off discounts in your offers when people like the listing.
Send Offers as Quickly as Possible
The sooner you send your offers, the more sales you will make! People change their minds quickly, so be prepared to send your first of three offers within 5 minutes of each like if possible. I price my items automatically 30% higher so that I can offer 10%, 20%, and ultimately 30% offers for each like.
The Bigger Your Closet the Better
This isn’t practical for most of us starting out, but it should be in the back of your mind for the long haul. From following successful sellers on PM, I’ve noticed that most of them have at least a few hundred items in their closets. This helps with more variety AND it helps with buy 2 or more get % off discounts since there is more to choose from in different sizes and styles.
Niche Down or Offer a Little Bit of Everything
When you first start out, you will probably have a bunch of different types of items because you are downsizing your closet. But over time, you will gravitate toward certain types of items in the thrift store. I am noticing that I love finding collectible home decor, especially vintage candlesticks, vintage mugs, MCM art/ceramics, and cottage core floral pictures. These are really fun because sometimes something that catches your eye ends up being worth quite a bit of money to collectors!
I also love looking at dresses, especially maxi dresses, because I’ve noticed they tend to bring in a higher return than other items (by looking at other people’s closets). Right now, I always look for funky vintage blazers and skirts. I also love looking at belts and belt buckles too for some reason.
Find Your Favorite Places to Shop & Get Friendly
When you keep going back to the same thrift store and the same people check you out, introduce yourself and ask when the sales are. Get on a first-name basis so that they enjoy seeing you come in the door and maybe even direct you to the types of things they see you buying on a regular basis. It pays to make connections! Plus, it’s fun!
Source from Different Kinds of Places
If you love selling vintage clothing and decor, an awesome way to find valuable pieces at a discount is by attending estate sales in your area. You can find them by googling estate sales near me. My advice is to go the first day and only buy the things that you are afraid someone else will buy. Save the rest of the items you notice for the last day because almost always the last day offers 50% off all remaining items.
Also, try checking out garage sales in “fancy” neighborhoods. You can find the best deals from people just trying to clean out their houses and make some money before they donate to the thrift store.
Learn to Accept Your Losses
Without a doubt, you will purchase some items that really struggle to sell. Once you sell them, they will bring in just enough to break even or you may even take a loss. Try to look at the long run and see how you made more money on another item that you didn’t expect and realize that it all balances out. Sometimes you may need to offer big sales to get rid of some older inventory or takedown items and save them for a later season.
Also, if you spend a little more on items than you should or you pay for a piece of clothing that has damage you didn’t notice, try to be thankful for where your money is going. Unless you shop at a for-profit thrift store (which I don’t recommend because they really jack up the prices), almost every thrift store gives away some or all their money to really good causes. For instance, I shop at several thrift stores that give out meals to the homeless, offer recovery programs, rescue abandoned animals, and offer job services to unemployed people. This makes me feel so much better about where my money is going as opposed to shopping at Target or something.
Take Advantage of the First Week Algorithm
When you first join, there is an algorithm in place that makes it so that your closet is shared with people at a much higher rate. Take advantage of this short time frame to share your closet a bunch. It will pay off in the long run because you will get the first bulk of your followers in your first week.
Then Work Toward Being a Posh Ambassador
There is a set of criteria for being a posh ambassador, and one of the hardest criteria is sharing other people’s items 5,000 times. Go into the process knowing this so that you share items you like as you go. You also must sell at least 15 items from your closet. There are other criteria that you can look into, but those were the two most challenging for me.
Once you achieve your posh ambassador status, you are automatically shared with new people to PM. You will gain a few followers per day just from this perk.
Are You Interested in Joining Poshmark?
Now that you have these tips in mind, are you interested in joining the Poshmark fam?? If so, I would love for you to use my referral name when you sign up which is @excarlyarmus. This gives us both $10 apiece for spending on PM!! It’s free money and we both win!!
I highly recommend you join PM and receive the benefits of selling second-hand items for a little bit of side cash. It really is worth your time!