From Gucci to Nike: New way to make $1000 from your wardrobe

Poshmark, a popular US-based e-commerce and social platform, is launching into Australia this week after generating $4 billion in “gross merchandising value” since its inception in 2011. Australians are hoarding $5 billion worth of unused clothes, shoes and accessories in their wardrobes, according to new research commissioned by Poshmark. Of 1000 Australians surveyed, the study found 79 per cent of shoppers purchased from online stores in the past 12 months, with nearly 60 per cent of the items bought unworn.

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Poshmark Announces Australia Expansion a Month After Its IPO

Australia was chosen as Poshmark’s first market outside of North America because it has a well-established thrift-shop culture, high rates of e-commerce adoption and environmentally conscious consumers, Chief Executive Officer Manish Chandra said in an interview. Poshmark, which promotes its shopping as a way to form social ties, also wants to expand the merchandise categories that its users can buy and sell, and announced last week the addition of pet-related goods.

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How this stay-at-home mom is making over $100,000 on secondhand clothing app Poshmark

In 2015, the lifelong bargain shopper decided to sell some clothes from her closet to pocket extra cash and make room for new items. Bisorca, 38, downloaded the fashion e-commerce app Poshmark and listed a few pieces of clothing. She made her first sale the same day. A few months later, Bisorca was hit with a large medical bill leaving her feeling hopeless. That’s when she decided to turn her hobby into a real source of income.

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You Can Shop For Your Pets On Poshmark Now

“Many members of the Poshmark community are proud pet owners, myself included, and it’s important that our social marketplace addresses the needs of the entire family,” said Tracy Sun, Poshmark’s Co-founder and Senior Vice President of New Markets. “We’re excited to offer pet owners a fun and social way to shop, sell and connect in a way that builds community, considers personal styles and budgets, and drives sustainability.”

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