Fashion resale platform Poshmark has entered the world of livestream shopping.
The company Wednesday (April 5) debuted Posh Shows, which allows people to livestream on the site for the first time. It’s a move that’s happening amid a boom in popularity for the resale space, and as several retailers grapple with their approach to live shopping.
“We saw a huge gap in live commerce in the U.S. — the need for a platform that could help anyone be successful with live selling by making it incredibly simple and fun,” said Tracy Sun, Poshmark co-founder and senior vice president of seller experience.
Poshmark began testing Posh Shows in the closing quarter of 2022, with sellers hosting more than 100,000 shows and shoppers placing more than 4 million bids. The program is open to any seller with “just a closet and a phone” in the U.S. and Canada, according to the release.
Reselling clothing and other accessories through sites like Poshmark or ThredUp has become a popular way for consumers to clear out their closets while making some extra cash on the side.
Research from the PYMNTS’ and LendingClub’s “New Reality Check: The Paycheck-to-Paycheck Report,” showed that reselling clothing makes up the top share of non-job supplemental income for consumers who live paycheck to paycheck without issues paying bills.
The popularity of this practice has helped reselling go mainstream, with ThredUp teaming with brands such as Tommy Hilfiger and H&M, and Amazon launching a partnership with Rent the Runway to expose the “pre-loved” used designer apparel marketplace to a larger audience.
Livestream shopping grew in popularity among younger shoppers during the pandemic, when social platforms like TikTok and Instagram debuted their live shopping offerings.
While COVID kept consumers away from stores, Bloomingdale’s organized over 50 livestream shopping events to connect with customers, offering makeup tutorials, cooking and fitness classes and discussions on sustainability in fashion.
Since then, well-known retailers such as Macy’s, Dick’s Sporting Goods and American Eagle have heavily invested in livestream shopping during peak periods, such as back-to-school and holidays, providing customers with high-value promotions.
On the flip side, despite its popularity among social media influencers and brands, Instagram in February shut down Live Shopping, a feature that let creators tag products and promote links during live broadcasts. That move followed Facebook’s similar decision to end its interactive shopping experiment in August.
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