Business Insider spoke with two Poshmark sellers who turned their side hustles into successful full-time businesses. Shannon Welch made $127,000 in sales last year and Elaine Ratner has made $1 million in sales since starting her Poshmark shop and subsequent ecommerce site. Here’s how they scaled their shops based on sales and followers.
What happens when you mix eBay and Instagram, then add millions of fashionistas eager to shop each others’ closets? You get Poshmark, the social-commerce platform founded by entrepreneur Manish Chandra.
Equity co-host Kate Clark recently sat down with Manish Chandra, the co-founder and chief executive officer of Poshmark, and one of his earliest investors, NFX managing partner James Currier. If you haven’t heard of Poshmark, it’s an online platform for buying and selling clothes.
Combined with other live events the company puts on, the Posh ‘N Sips are a mix of experiential marketing and influencer meet-up — letting brand ambassadors meet up and evangelize. This local outreach is funded by Poshmark’s community development budget, an offshoot of marketing, and have become a way for the platform to both find and cultivate top sellers and differentiate itself from other resale companies that don’t facilitate such one-on-one events.
Since the premiere of A Beautiful Day in the Neighborhood at the Toronto International Film Festival in September, cardigan searches have increased across North America. Top-selling cardigans? Lacoste, rag & bone, Polo By Ralph Lauren and All Saints were some of the top-selling men’s cardigan brands across the U.S., with the southern states favouring Polo while rag & bone was all over New York State’s face.