At the annual two-day “Poshfest” event this weekend, Poshmark co-founder and CEO Manish Chandra unveiled two new app features helping sellers on the peer-to-peer marketplace engage with a wider audience.
Chandra covered the resale platform’s launch of the My Shoppers and Closet Insights features during Poshmark’s “State of the Posh Union 2021,” with the goal of simulating attributes from a brick-and-mortar shopping experience in an online selling environment.
The My Shoppers clienteling feature is Poshmark’s version of the “world’s most skilled” in-store retail associate. Just as a brick-and-mortar staffer might engage with a potential customer by suggesting relevant products or personalized styling, sellers using My Shoppers can apply similar personalized experiences to buyers, and even give them more specific offers in an effort to generate a sale.
“You can also reconnect with customers who’ve previously purchased from you, share new items with them and really re-market to them, and then ultimately bring them back and turn them into loyal customers,” Chandra said. “This one-on-one selling at scale where you can connect with multiple customers at the same time is pretty novel.”
Sellers can move these potential buyers through the sales funnel by sending promotional discounts and messaging or personalizing merchandise. For example, a seller can send a comment to past buyers, prompting them to access a 40 percent discount if they add the item being promoted to their bundle.
Poshmark, which went public in January, also introduced Closet Insights, a dashboard that provides sellers with real-time day-to-day inventory, sales, merchandising and pricing data. The feature, which Chandra noted sellers have wanted “for a long time,” gives sellers a better understanding of their business performance over time to inform strategy, drive action and improve sales.
As part of emphasis on sellers, the secondhand fashion app also named co-founder Tracy Sun as its new senior vice president of seller experience, a new role dedicated to serving Poshmark’s diverse and engaged seller community. Chandra said that Sun’s position leads a newly established organization within Poshmark focused on investing and innovating for resellers, with the idea that “anybody wants to sell in Poshmark can quickly sell, and easily get a closet started.”
Chandra said that Sun’s team will support and innovate for sellers at all levels—from casual sellers to larger boutiques and brands—so that all have the opportunity to grow and scale over time.
“Our sellers are the heart and soul of the Poshmark community and we are committed to helping them thrive at every step of their journey—whether that’s an individual selling in their spare time or a larger brand looking to embrace a circular model,” Sun said in a statement. “We want to enable everyone to participate in the digital economy by making it simple and easy to sell online and in doing so, upend the entire e-commerce experience as we know it. We believe the future of shopping is in the hands of millions of people who seek a simple, social and sustainable way to shop and we want to be their number one destination.”
Alongside the announcements of Sun’s new role and the two major updates to the Poshmark platform, Chandra unveiled a new direct messaging launch, designed to be activated immediately after a customer places an order so that sellers can deliver real-time updates on shipping times and other details.
Chandra also previewed an update to its Posh Ambassadors influencer program, introducing a “gold badge” for top influencers.
These new seller-focused innovations come on the heels of Poshmark’s continued releases over the past year designed to enhance seller productivity and scalability, as well as the company’s international expansion into new markets like India and Australia.
Recent additions to the peer-to-peer marketplace include: Bulk Listing Actions, which allows sellers to share listings, make closet-wide pricing changes and execute multiple offers to likers at once; Listing Videos, which enable users to embed short videos within listings; Style Tags, which allow users to shop by trend and improve shopper discovery and matching; and Seller Discounted Shipping, which lets sellers adjust the shipping price to help close the sale.