As consignment sales slump during the Coronavirus pandemic, Poshmark is adding new features to regain momentum.
Creating social-media like aspects could help Poshmark garner social-media level engagement, particularly as the clothing resale market continues on an upward trend. The brand has created “Posh Stories”, a new feature that shows users items from brands and closets they follow. Users can create their own stories and share them as video clips or photos, which will be displayed at the top of others’ feeds. To encourage community building, Poshmark users can share each other’s stories to their own profiles, potentially helping them sell clothes. Each story will have a tag that users can click on to purchase the item displayed.
With 60 million registered users, Poshmark’s new feature has the potential to reach a wide audience. Posh Stories could also help the brand differentiate itself from other resale sites, like ThredUp and The RealReal. Linking social media and commerce has become a popular tactic, according to a Gartner report, so it makes sense that the new feature would mimic familiar social media styles, like shopping from Instagram Stories. However, Poshmark’s new shoppable stories will last for 48 hours, twice that of formats used on Snapchat and Instagram. Currently, Poshmark is rolling out Posh Stories to all of its users in the U.S. and Canada, with plans to expand elsewhere later on.
As social media selling grows in popularity, modernized digital features could help Poshmark reach new levels of engagement with its millions of buyers and sellers and set itself apart from growing competition.