“The way we really grew was by getting a community of users that really likes to interact with each other and being able to buy from someone, not someplace. That’s what really set us apart,” said Poshmark CMO Steven Tristan Young in conversation with Adweek senior writer Lisa Lacy at today’s Future of Shopping event. Young calls it a phenomenon of “shared closets.”
The COVID-19 pandemic has interrupted my life, as I’m sure it did for many others. I decided to make the best out of my situation, meaning, if I finished school as quickly as I could, I could turn my side hustle into a full-time hustle. Having this to fall back on and provide me with income during the pandemic has been a huge stress relief, and as of March 2020, I have been selling full-time on Poshmark. One of the hardest things about this pandemic is finding connection. I’ve been so lucky to have my online Poshmark community, where we are able to connect through themed parties and coordinated events
“In many ways, Poshmark was built for an environment like this,” Poshmark cofounder and CEO Manish Chandra said of the platform’s ability to essentially operate as usual during the pandemic. “Millions of people are selling from home, shipping from home, shopping from home, and receiving their purchases at home.” Poshmark’s advantage of its existing nimble model helped it thrive in what became the norm in a pandemic-stricken world. The platform’s distributed logistics network, suite of advanced e-commerce tools, and highly engaged base of sellers made Poshmark well equipped to field any necessary adjustments.
At the end of March, Diana Karen Mireles was furloughed from her job as a marketing coordinator at a Los Angeles shoe store, yet still managed to pay off a longstanding car loan within weeks. How did she pull off this budgetary wizardry? By raking in over $3,000 selling her old clothes on Poshmark, an online resale marketplace.
Barkha Saxena, Chief Data Officer at Poshmark