Poshmark is without a doubt, one of the most incredible marketplace there is. Various buyers & sellers reach to the platform for buying and selling fashion pieces that are affordable, in style and some of the time – high end brand clothings. You’ll come across alot of Poshmark clients who love the platform for getting everything they love at one place as many poshmark sellers offer them good deals and offers.
For some, selling on the platform is only a side hustle, yet for a few, it’s their full time business and passion, selling on a platform like Poshmark. In order to get hold of this platform, one must learn how to work around this platform, the features it offers, highs and lows, listing and offering for the clients, payment details and most importantly – how to acquire the clients.
Making a closet on Poshmark is super simple, however to appropriately name your price is something else. Beside posting with an engaging title, eye-getting photographs, and point by point item depiction, quite possibly the main interesting points to draw in potential users is the cost.
Let’s look at a few points you should keep a check on while deciding on the price for your closet & items in it.
- Understand your Items – When you list an item on Poshmark, you need to be really sure of the market and audience. Obviously, not every person has a similar inclination, but rather you can enjoy the benefit of offering your items by checking a few factors to help you think of a final listing cost. Remember that you are selling since you need to earn. So, your listing price should be very competitive. To properly choose about your price, you should consider the following:
- Original Price – If you are selling something that’s of a popular brand or company, something that might already be available easily on a store or website, be sure to compare your listing price with the original price, especially if it’s a new item.
- Competition – It is important that you check the price of your item around the platform and other online websites hosting similar products and check how they are doing in the market. You should adjust your price according to your research and condition of your item and your competitor’s as well.
- Likers – It is also important to have a look and understanding about the product’s likers and followers. Mostly, when a listing has many likers, there’s high chances of the product being sold out quicker. The number of likes indicates how many people on Poshmark are interested in that kind of product. More likes mean more potential buyers.
Once you have ensured that you have taken the above points in consideration, don’t forget to add relevant keywords in your listing for users to have higher chances to see or buy your product.
- Understanding your fees – Unlike other online selling platforms, Poshmark provides a very transparent and direct seller fee. It is really important for you to know that when you put a price on your item, you need to be sure that after the Poshmark fee, you still be able to earn your profit from your item listing. Here are a few prices that you need to take in consideration.
- The $2.95 commission – This is applicable to sales under $15. Meaning, any item in your closet that sells for $15 or below, Poshmark takes a flat fee of $2.95. Now, as a seller, it’s your duty to make sure that you still have good money left as profit without compromising the cost price of your item.
- The 20% commission – This is applicable to sales of $15 and above. Poshmark lets you keep 80% of your earnings and rest, 20% to itself. Now, as a seller it’s important for you to understand that whatever amount up & above $15 that you sell, Poshmark will take 20% of it.
Some of the other commission fees but you don’t have worry as Poshmark covers these commission fees;
- Sales Tax
- Credit Card Processing Fee
- Discounts For Buyers – On Poshmark, sellers can send various types of offers to possible buyers. To measure your price appropriately and ensure that you benefit from it in any situation, even when you are offering discounts, you need to give a leeway. This will give you enough room to discuss more discounts with potential buyers, without having to compromise the actual price & your profit.
At the point when you make an offer to your potential buyer, you should offer them a discount to make them realize why it’s a better deal than with any other reseller. In any case, you don’t need to stress over investing a lot of energy in front of your PC any longer because PrimeLister has got you covered and can assist you with doing that. You can naturally send offers to users on Poshmark who like your things and Poshmark bundles to help you increase your revenue. As we know that this can be really time taking, we recommend you to use PrimeLister which can easily help you to send offers to likers and few more features like below that helps you on the platform without having to work on your closet 24/7.
- Organize Your Inventory – You can organize your inventory with tags or groups. You can use tags to search for items by details like price, shipping, size etc. You can also use groups for bulk listing.
- Cross-List Your Listings – This lets you cross list your inventory with one click. Helps you to avoid filling details manually. Once you are done, details for the listings get auto filled and images will be uploaded automatically.
- Import Listings – This lets you import your listing into the inventory. Once the import is complete, your listing gets paired to the copies already published on different marketplaces.
- List & Re-list Item – You can list and re-list your inventory with just one click. This lets you manage listings when sold out or for the old inventory as well.
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The power of free shipping has immense impact. Free shipping can attract a lot of new buyers as well as convert them into potential one’s.
You can add your free delivery offer when you send an Offer to Likers. However, it is significant that you have figured your delivery cost to the actual price of your item so that you will not need to suffer and cover the shipping cost when the transaction is finished.
With this article, you can now properly put a price on your item listing without compromising on your profit in selling on Poshmark. With the right information about what to check and consider prior to pricing your items, it is practically much simpler to impact your buyer’s choice. Besides, when sending offers to likers, PrimeLister is here to help you with sending offers, groups, share postings, and that’s just the beginning. If you don’t want to spend too much time managing your Poshmark closet, PrimeLister offers a 7 days free trial with a responsive support team that is consistently ready to help.
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