I’ve decided to start posting a Poshmark Secret Tip every week to help those who are new to reselling on Poshmark and needing someselling help.
Todays tip is very simple. Put yourself in your buyers shoes.
As a buyer on Poshmark, I will find an item I like. I will click the heart on that item to save my like while I look around for a similar item that may be cheaper. The majority of time if the seller of the item I liked sends me a private offer with a shipping discount, I typically will purchase that item, especially if it’s a cheaper price than the other items listed.
The chance of me actually buying that item is highest within the first 5-10 minutes of me liking that item. Typically I am an impulse buyer. These are the buyers you want to target. Offer me free shipping and you have basically sealed the deal on a sale.
To understand buyers, there is a wonderful article called The 5 Types of Online Shoppers and How To Get Them To Buy
I suggest taking a peek at this article and it will hopefully give you a better understanding of the many types of buyers so you can possibly increase your chances of making that sale. You already have one type of buyer to remember when you get a like on an item, Impulse buyers, like me.
Here is an example of how to test this out:
I have a pair of Madewell 10″ High Rise Skinny Skinny Jeans, Size 29. I paid $2 for these and I want to resell them for a much higher price, so I will be looking at the current available listings on Poshmark. The listings available range in price from $35 to $120, so this is where math will come into play. (To learn how to price your items, check out this video)
I know if I charge $35 for these jeans I will make $28 in profit after fees, which is a great profit for me since I only paid $2. But I want to make sure I am able to make atleast a $20 profit and I want to be able to offer likers free shipping without a percentage off the sale price. (I will do this buy sending a private offer to likers, how to video here).
I know that shipping is $7.11 per order so if I charge $35 and offer Free Shipping, I will make $20.89, but I want to make a $20 profit after my cost of goods, so I will add $2 to my listing price. So when I list these jeans, they will be priced at $37. Each person who likes them, I will go to their page and add their like to a bundle and send them an offer of $37 with free shipping, and wait for the bite!
Try this yourself and let me know how it works for you!