Poshmark always values feedback from the community so we wanted to take this opportunity to hear from a few members in regards to how they’ve handled the recent news surrounding Poshmark’s latest changes, including PoshPost. Read on to learn more!
With the new shipping and commission updates, I’m making more sales now that the shipping rates are lower. I find that even a dollar or two can really make or break a deal when customers are looking to purchase. I don’t feel like I have to increase my prices to maintain my earnings margin because I’m offering higher quality items that are above the $15 mark, so I feel unaffected by the commission changes. Additionally with the shipping rate lowered I feel like Poshmark now allows me to make more sales and not feel pressured to discounting more for customers unhappy with total price of an item plus shipping.
Some things I’ve been adjusting to include using the Not For Sale (NFS) status to show the items in a “preview to come” listing to increase pre-promotion of new items to my followers. I also use it as a hold on items that are bundled until they have been accepted.
A couple of tips that I would offer to Poshers still adjusting with the changes are: use the NFS tags in creative ways for reserves, welcome posts, chatting listings, or party announcements. Also, share the news with your followers and potential customers that shipping rates are lower - it may lead them to making more purchases.
With the new commission and shipping updates, my customers have been buying more because they are spending less on shipping. In addition, I have been using a five items for $15 promotion and have had more customers spend more than $15 on their bundles. They feel like they are getting more for less and I am making the same profit as the 20% commission (if not more!).
To encourage sales and bundles, I have created my own personalized thank you business cards. The cards state thank you for your purchase please leave feedback and 10% off will be awarded off your next purchase. Makes it simple and fast!
One recommendation that I have for any Poshers still adjusting is to be proactive not reactive about change. Change is a very difficult thing to deal with, and any comments that you make about the changes, Poshmark, or other individuals is a reflection of your closet. You are a brand ambassador for yourself and the Poshmark community. Keep it positive.
I believe the new shipping and commission updateshave improved morale of the general community, and also increased my sales. I have not actually increased my prices to maintain earnings because careful thought always goes into my pricing. I allow myself a sufficient margin to anticipate trends whether it is changes made by Poshmark or those due to current demand and competition internally and externally (outside of Poshmark). I am now seeing less bundles and more single purchases of higher cost, and I believe this is because the buyer no longer has to “jump through hoops” to get a great deal now.
One noteworthy change to my Poshing is I have been using the NFS status for inventory management. When I need to know how many available listings I have this gives me a true number since it excludes notes with listings of $0 listing price. It’s a quick tool to be able to know what I’ve sold weekly. Now I have much easier visual inventory control. Defining my unproductive inventory is also quicker now. By using the NFS tool in conjunction with the Filters, I am now able to define the 20% that’s selling and 80% that’s not. I am also able to track trends of each item posted.
My advice for Poshers still adjusting to the updates is first and foremost to have fun! Poshmark is an evolving platform that is consistently listening to its users in order to improve. In this day and age we don’t have the luxury to think rigid. For example when Apple has an upgrade we all know it’s going to be for something better. Poshers that are still adjusting should inherit that same trust.