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Poshmark Homes In on Gifts and MoreE-commerce platform is trying to deliver itself to consumers in smaller, more manageable pieces.
[Collection]As e-commerce marketplaces get bigger and bigger, adding products exponentially, they may be doing themselves and consumers a disservice if customers can’t find what they’re looking for amid the vast thicket of inventory.
“With more than five million sellers and more than 75 million pieces of inventory on Poshmark, the virtual marketplace becomes bigger and bigger. As we get bigger, we want to make sure we curate special shopping experiences for buyers and sellers,” said Tracy Sun, senior vice president of new markets. “We don’t need to get more inventory.”
Manish Chandra, Poshmark’s chief executive officer, said with 40 million users, the social commerce platform powers a sale every minute and is the front-runner of the retail social commerce pack. While Poshmark started as a resale app, the five million businesses operating on the platform include everything from small second-hand closets to branded boutiques.
“It’s the largest social selling platform,” said Chandra. “There’s a lot of repeat activity. The active user spends 20 to 25 minutes and opens the app seven to nine times a day. It’s a hyper-engaged, social media-focused consumer.”
Chandra said a unique feature of Poshmark is its ability to provide personal service. “Today you get niche with high prices and
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