Poshmark is branching out into dwelling decor after its customers make hundreds promoting their garments
- Poshmark is a web-based market the place individuals should purchase and promote clothes from boutiques or their very own closets. As of Tuesday, it should additionally be including dwelling decor to its market.
- Poshmark launched in 2011 as a spot for individuals to purchase and promote used clothes. Since then, it has grown right into a neighborhood of 40 million customers.
- The Wall Road Journal reported in April that it’s eyeing an IPO later this yr.
- Go to Enterprise Insider’s homepage for extra tales.
Poshmark needs to faucet into the thriving homeware market.
As of Tuesday, Poshmark customers will be capable to purchase and promote varied dwelling decor gadgets on its app. This consists of gadgets comparable to bedding, artwork, and a few storage items; furnishings shouldn’t be included, nonetheless.
“With the launch of the Dwelling Market, we’re taking our first step into broader way of life classes and increasing our social market past the closet,” Manish Chandra, founder and CEO of Poshmark, stated in an announcement to the press.
Poshmark launched in 2011 as a spot for individuals to purchase and promote used clothes. Its easy-to-use app has allowed it to develop rapidly and appeal to a big buyer base. It has since grown to a neighborhood of 40 million customers. The Wall Road Journal reported in April that it’s planning to file for an IPO later this yr.
Learn extra: Poshmark, the favored app that helps customers promote undesirable clothes, is reportedly planning an IPO. Listed here are high sellers’ secrets and techniques to creating hundreds of with the service.
By including dwelling decor to its providing it is ready to capitalize on a $582 billion market and higher attraction to millennials who’re beginning to purchase houses and embellish them.
“This Market launch reiterates the ability of Posh Markets to scale social commerce and allows Poshmark to proceed reworking the e-commerce expertise,” Chandra added.
Promoting on Poshmark has grow to be a full-time job for some individuals, who’re pulling in hundreds of promoting undesirable clothes or launching their very own boutiques.
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