Poshmark, the P2P luxury marketplace that allows women to shop for items from each other's closets, has added a new service targeted at brining in a new e-Commerce audience: professional sellers.
Poshmark — which recently hit a $100 million annual revenue milestone, according to TechCrunch — is offering a new service called Posh Concierge, a free feature that allows the company to authenticate the purchases of luxury goods. This move positions the company against more competitors in the high fashion resale space. Previously, items sold through the marketplace were sold just directly from seller to buyer like eBay, but now items are authorized by the Poshmark team before they're shipped. This adds an extra layer of security from the buyer's perspective and could attract that professional audience.
Here's how the service works, TechCrunch reported: "For items to qualify, they have to be over $500, the company says. It then provides the seller with a pre-paid, pre-addressed shipping label to send the item to the company. The verification process takes 24 to 48 hours, and, if approved, Poshmark then sends the item on to the buyer along with a certificate of authenticity."
Poshmark believes this service will attract more than just the everyday consumer and open the marketplace to professional sellers looking to reach a wider audience. Perks of Poshmark for the professional side include being able to set their own prices without a middleman dictating and the ability to communicate directly with customers. Customers can always communicate with sellers.
"Whereas in the past many of Poshmark’s listings were those of someone just doing a little closet cleaning, pro sellers of luxury items will now be able to be confident of getting full price because they can prove to buyers their items are legit," TechCrunch reported.