Latest news with #Poshmark
Business Insider
14-07-2025
- Business
- Business Insider
My side hustle is buying and reselling secondhand merch. I sold over 470 items and made nearly $9,000 in my first year.
The first time I dove into a Goodwill Outlet bin, I came out holding a broken belt, one flip flop, and a genuine Missoni shawl. Around me, other resellers were elbows-deep — with gloves on, masks up — tossing clothes like someone buried a gold bar in there. There was no actual gold to dig up, just the chance to make money flipping this "trash." Welcome to the Goodwill Outlet, aka "The Bins," as regulars call it. It's the final stop before auction, recycling, or the landfill. Here, you buy by the pound, so the Missoni shawl, which originally retailed for $350, cost me less than $2. I sold it for $62 on the resale app, Poshmark. It was not as much as I'd hoped, but the snags I overlooked before buying it lowered the value. I've been exploring this part-time side hustle for a little over a year. I sold my first personal item in February 2024 and started taking reselling more seriously, including regular trips to The Bins, at the beginning of that summer. Strategic finds like the Missoni shawl helped me earn nearly $9,000 in profit my first year. However, it wasn't just about the money. I've also decluttered my house and found an unexpected online community. I was inspired by my best friend and the online community My best friend had been thrifting for a long time, but once she discovered Poshmark, everything changed. Suddenly, her weekend hobby was making real money. She was the one who got me curious, but it was the supportive Instagram community that pulled me in. Before spending money on new inventory at thrift stores and The Bins, it's recommended by veteran resellers to start with items you already own. So, that's what I did. I looked around my house at all the stuff we'd accumulated, especially after having kids, and made a pile of things I wasn't using but couldn't quite let go of, until that moment, when they finally had a new purpose. There was the maternity dress I wore to a wedding, a pack of baby onesies with the tags still on, and a set of handmade ceramic mugs we'd made tea in once. In that first purge, I filled three trash bags full of stuff and listed it on my Poshmark store, Forsythe Canyon. I could tell I was just scratching the surface, so I started going deeper into the reseller community on Instagram, where I followed and interacted with top sellers who shared invaluable advice like how to research an item's sell-through rate and average sale price and where to find deals on live auction apps like Whatnot. Out of everything, what surprised me most was how collaborative reselling is. I'd promote other resellers' Poshmark stores on Instagram, and they would support me back. Everyone I meet has their own reason for starting. One friend put herself through college. Another uses her earnings to take her family on dream vacations, and one guy made it his full-time career after his ADD made traditional offices too challenging. I learned the hard way Resale is not competitive because the inventory is endless. Americans have way too much stuff. Spend even an hour at The Bins and that becomes obvious. The one I visit, staff roll out new blue carts brimming with unwanted items every 10 minutes, eight at a time, all day, every day from 8 a.m. to 8 p.m. Of course, all the support didn't stop me from learning the hard way. When I started sourcing outside my home, I overpaid for trendy items I didn't bother to "comp" (reseller speak for checking comparable sales), and ended up losing money on a few pieces I thought were "cute." My bookkeeping was a disaster until I found the reseller-friendly software Vendoo, which organized my messy spreadsheets into top-selling categories and brands, average sale price, and revenue vs. profit. When I look back at some of my early listing photos, I'm shocked that anything sold. There were too many shots with bad lighting, jeans half-out-of-frame, and wrinkled tops. That Missoni shawl was a lucky flip. My average sale price per item lands closer to $30, but that adds up. Within the first year of opening my reselling store, I've generated $14,000 in revenue, $8,700 after expenses, listed 784 items, and sold 474—all of which I photographed and wrote descriptions for with relevant keywords. Shopping and listing take the most time. My dining table has become a photo studio, covered in a white sheet and flanked by two lamps I stole from the bedroom. Some days, I'll list until my back aches. Reselling is my hobby, it's not a get-rich-quick scheme Reselling's not glamorous. Remember me digging through The Bins? It's also definitely not a get-rich-quick scheme. If I tracked my hours, I'm pretty sure I'm earning less than minimum wage. However, the flexibility is worth it to me. While the kids are in school and I'm between work projects, I'll swing by the Outlets, drop $100, and turn it into $600 within a few weeks. Not bad for a mid-morning treasure hunt. At night, while I have a show on in the background, I can crank out 20 listings and replenish my inventory. I like the environmental aspect, too. A pair of vintage, 1950s suede kitten-heel pumps that might otherwise have found their way to the dump found a new home in Palm Springs, where the buyer would slip them on as the statement piece for her bachelorette night outfit. I made just $16 on the flip, but the real reward was keeping them out of the landfill and giving them a second life with someone who couldn't wait to wear them. Reselling is an oddly satisfying mix of entrepreneurship, creativity, and connection. And yeah, there's the dopamine hit of finding a valuable flip. What started for me as a decluttering spree became a reminder: what looks like trash might actually be treasure. Sometimes you find treasure. Sometimes you find people. If you're lucky, you find both.
Forbes
13-07-2025
- Business
- Forbes
Farm Rio Introduces Resale Option, Adding To Brand's B-Corp Goals
Farm Rio's new Closet-to-Closet resale program. A significant tenet of B Corp status revolves around circularity. Many fashion brands have recently added services or platforms that allow customers to trade in clothing, typically in exchange for credit towards future purchases. The practice is so ubiquitous that it has spread to other consumer product categories; to wit, eco-friendly and development-oriented children's toy company, Lovevery, just introduced a resale marketplace for its products. Brazilian sustainable-minded brand Farm Rio, which has touted sustainable practices since day one via a tree-planting program, is adding to its circularity efforts with the launch of its 'Closet-to-Closet' program in conjunction with market-tested resale platforms, ThredUp and Poshmark. While both will operate differently, each speaks to the second-hand clothing market mindset that offers new consumers the opportunity to own a piece of the brand at a lower cost and allows current customers to avoid past purchases ending up in a landfill. It also adds to funds spent on future purchases. In today's shopping climate, it also speaks to Poshmark, known for its democratic brand assortment, allows customers to avoid the tedious step of photographing and uploading sale items manually on its site by directly syncing with the Farm Rio website which pulls an image of the item based on the customers purchase history—thus highlighting the tech scope of online shopping logged into an account versus guest checkout. Once the item posting is created automatically, the seller approves the listing before going live. Once a piece is sold, proceeds go straight to the seller in the form of cash. ThredUp works slightly differently and may appeal to those looking to free closet space immediately. Farm Rio customers receive a prepaid shipping label to ship eligible Farm Rio clothing, accessories, or shoes to ThredUp. Customers choosing this receive a Farm Rio gift card for a shopping credit to be used on something new. According to brand spokesperson and marketing specialist Camilla Pinto, the timing of the initiative spoke more to a vibe. "Circularity has always been part of our ethos, and Closet to Closet is a natural evolution of that commitment. With resale becoming a more mainstream and meaningful way to reduce fashion waste, now felt like the right time to join the movement and invite our community to extend the joy of Farm Rio pieces," she noted. Farm Rio's new Closet-to-Closet resale program. It's also an interesting time to feed the US resale market, which some industry voices believe will strengthen in demand in light of ongoing trade wars due to tariffs. Goods resold within the US are not subject to the import taxes regardless of the primary origin. And resale culture has permeated the US shopping landscape. "The U.S. has a strong resale culture and an enthusiastic Farm Rio community, so it made sense to launch Closet to Closet here first as the starting point to build momentum before expanding globally," Pinto said. Like many brand retailers, working with a third-party for an arm of the business that doesn't typically exist in its business model. Poshmark and ThredUp are popular platforms that offer intuitive, accessible experiences. "Rather than building resale into our own channels, partnering with platforms our customers already know and trust allowed us to launch quickly and at scale, while keeping the process simple and seamless," she continued, noting it requires constant oversight. "There are varied experiences with third-party platforms, so we will have ongoing dialogue with our partners to ensure the program feels positive and rewarding. Our goal is to make circularity easy to engage with, and we're listening closely so we can continue to improve the customer journey," she added. The initiative follows the release of the brand's fifth sustainability report in 2024, which highlights its achievements in ESG. It's fair to note the colorful-print brand, whose 1997 founding ethos in Rio de Janeiro included planting trees each step of the way, was ahead of the curve in terms of fashion giving back in some way what it takes from Rio's new Closet-to-Closet resale program. The report highlights that to date, the Certified B-Corp company has donated 1,500,000 trees and reforested nine million square meters. It's invested 1.9 million Real dollars in wildlife and can quantify 18,759.23 tons of CO2e compensated. Farm Rio also works with the Brazilian indigenous Yawananwa peoples from the Amazon, thus helping communities become self-sustaining. Circularity efforts include the use of responsible fabrics, donating 5.98 tons of fabrics to garment collectives, and recycling efforts globally amount to over 73,000 tons of materials remaining out of landfills. The brand also held its first-ever sample sale with four editions globally that kept 22,770 pieces circular. 'Closet-to-Closet' will surely add to that figure on the brand's next report, as Pinto noted. "We're continuing to explore new ways to grow our circularity efforts—both through retail and beyond."
Fashion United
09-07-2025
- Business
- Fashion United
Farm Rio launches resale programme
Brazilian fashion and lifestyle brand Farm Rio is joining the secondhand marketplace with the launch of its first resale programme called 'Farm Rio Closet to Closet'. The programme, which aims to keep wearable garments out of landfill, is being powered by ThredUp and Poshmark and will initially be available in the US only, with the brand stating it has plans to 'expand into other markets soon'. With the Poshmark option, verified Farm Rio purchases can be synced directly from a customer's history on the Farm Rio website. Once linked, a preview advertisement is created, so there is no need to upload photos or write product descriptions. The owner only needs to approve the listings before they go live. When a piece is sold, the proceeds go straight to the seller. Alternatively, customers can send their 'gently worn pieces' to ThredUp at no cost. Farm Rio customers can generate a prepaid shipping label, fill any shippable box or bag with eligible clothing, accessories, or shoes, and send it off. In return, they'll receive a Farm Rio gift card based on what ThredUp resells, ready with shopping credit to be used toward something new.
Time Business News
04-07-2025
- Business
- Time Business News
Enhancing Your E-Commerce Strategy with B2B Wholesale Marketplaces
The present era is the Internet age. Every industry is leveraging it for growth and expansion. Wholesale businesses have also gone online to achieve better market visibility. However, for increased online sales and higher profit margins, sellers must refine their e-commerce strategies. Online marketplaces are the best platforms for this purpose. These marketplaces can help sellers increase their market presence. Market exposure is the key to any business's growth and expansion. Effective marketing provides better online visibility and broadens a business's reach. That's precisely what a B2B seller can get from a marketplace. Wholesale marketplaces typically connect wholesalers and manufacturers with retailers. Thus, B2B sellers can effectively leverage this facility to enhance their e-commerce strategy. A larger customer base enables businesses to generate better sales and higher profits. B2B marketplaces present this opportunity to wholesalers. Online marketplaces offer good networking opportunities and substantial market exposure to sellers. This connects them to other sellers and introduces them to potential buyers. Growth in B2B is based on robust business relationships. The stronger these relationships, the more opportunities for growth and expansion. B2B sellers can develop strong business ties by leveraging online marketplaces. Here, they can interact with their customers. Customer-centric offerings such as pricing flexibility and multiple payment options can help gain customers' trust and loyalty. Effective networking and visibility further help in establishing long-term business relationships. As a B2B seller, understanding your target audience is crucial. This insight helps you determine what you're seeking in a marketplace. Creating detailed buyer personas, which include age, occupation, psychographics, pain points, etc. can provide a clear understanding of your potential buyers. However, it's also important to study a marketplace's target audience. For instance, a B2B marketplace might only target electronic vendors while you might be selling furniture. Additionally, they might cater to region-specific or global audiences. Most B2B marketplaces offer common products, but some also offer niche products. For instance, online marketplaces like Etsy have a lot of handmade and vintage products. Similarly, Poshmark only offers fashion products. Therefore, examining the types of products on a marketplace is vital for B2B sellers. Thorough research across various marketplaces can help you narrow down your choices. Every B2B seller should consider their budget as it affects profit margins. Therefore, it is necessary to examine the fees and other costs associated with different services on a marketplace. Comparing various fees/costs helps in choosing the right marketplace: Listing fees: Sellers are required to pay a fee for listing their products on a marketplace. It can be a flat rate (charged for uploading an entire catalog) or vary based on individual products. Commission: Certain marketplaces charge sellers a commission on every sale. This amount can vary based on the product and quantity. Subscription charges: Often marketplaces charge sellers a subscription fee, which varies according to the pricing plan. Shipping and delivery costs: Efficient shipping services come at a price. Some online marketplaces charge a certain amount for handling order deliveries. Sellers should ensure that the chosen marketplace is legally registered and compliant with all necessary regulations. It's also crucial to make sure a marketplace has a verification procedure for its sellers. This helps both buyers and sellers avoid scams. A vendor is generally considered reliable if they have a: Seller's license Relevant certifications Registered email ID A user-friendly UI/UX is essential to attract and retain customers on any web-based platform. B2B sellers should ensure that the marketplace has well-organized product categories and other important pages, making it easy for users to find what they are looking for. They should also check that the website displays complete product information along with images. Additionally, it's crucial to assess that the user experience across both web and app interfaces is seamless. B2B customers are more likely to repeat purchases if their previous online shopping experiences were positive. Efficient delivery services play a pivotal role in this regard. For timely and safe delivery of products, sellers should choose a marketplace affiliated with reliable delivery services. Some reputable delivery service providers include: Some marketplaces allow a B2B seller to set up an online storefront. Sellers should also make sure that the marketplace also offers storefront customization, allowing them to select a design that matches their brand. When picking a B2B marketplace, it's super important to check out its review and ratings system. Reading the reviews and ratings tells you a lot about a marketplace's reputation. A bunch of positive reviews usually mean it's a good place to sell your stuff, but don't forget to check out the negative ones too; they'll tell you where the platform has room to improve. You have to check the different ways you can pay and how safe your info is on the platform. People prefer platforms where they can pay how they like, and where their info is secure. So, look for marketplaces that offer various payment options and have strong security measures in place. This doesn't just make buying and selling smoother; it also keeps everyone happy and coming back for more. Based in China, Alibaba is a wholesale marketplace giant. A few years ago, this marketplace even surpassed Amazon in terms of performance. Being one of the oldest and largest e-commerce platforms, Alibaba offers strategies for enhancing B2B transactions. For instance, the marketplace has a vast global reach, targeting audiences in several countries like the U.S., China, and other Asian countries. Its prominent features include secure payments, various product categories, detailed product listings, registration of only verified legal suppliers, efficient delivery services, etc. SeeBiz is another prominent name in the wholesale e-commerce industry. Based in the U.S., this online wholesale marketplace connects wholesale sellers with buyers. How does SeeBiz help enhance your B2B e-commerce strategy? Offers excellent business-to-business networking Facilitates direct communication between vendors, eliminating third-party interference Provides access to thousands of products from hundreds of amazing U.S. brands Takes no commission fees Lets you offer exclusive rates to exclusive customers Runs a free Google Ads campaign for your SeeBiz store Amazon is a renowned name in the B2C e-commerce industry. However, with Amazon Business, it has also built a strong reputation in the B2B e-commerce industry. This U.S.-based marketplace caters to over six million global customers. Amazon Business maintains the same standards as Amazon. Both buyers and sellers can leverage this platform. For instance, it offers a guided buying experience to its buyers. Moreover, basket analysis helps compare prices and products from various suppliers. This marketplace also facilitates cost-effective wholesale purchases. Buyers can get discounts on bulk orders. Furthermore, it has a user-friendly interface making it easy to navigate the platform. DHGate is a China-based e-commerce marketplace that provides wholesale Chinese goods globally. U.S. and European countries are its top customers. Like other marketplaces, DHGate also offers global networking, enabling international vendors to interact with each other. The platform ensures all its suppliers are authorized to operate in both the U.S. and Europe. TIME BUSINESS NEWS
Time Business News
01-07-2025
- Business
- Time Business News
Key Insights, Strategies, and Trends
In today's rapidly evolving business environment, staying informed about the latest trends and strategies is crucial for success. Whether you are a budding entrepreneur or a seasoned business owner, understanding the intricacies of business operations is essential. This article provides a comprehensive look into the world of business, offering a deep dive into what it takes to succeed in various fields and how to stay ahead of the curve in an ever-changing landscape. Before diving into advanced strategies, it's essential to gain a clear understanding of what constitutes a business. Simply put, a business is an organization or entity that sells goods or services in exchange for money. Businesses can range from small, local enterprises to large multinational corporations. Regardless of size, the fundamental goal remains the same: to generate profit. There are several business models to choose from depending on your industry, market, and resources. The most common types include: B2B (Business-to-Business) : This model involves businesses selling products or services to other companies. Examples include software providers or wholesalers. : This model involves businesses selling products or services to other companies. Examples include software providers or wholesalers. B2C (Business-to-Consumer) : Businesses using this model sell directly to consumers, such as retail stores or e-commerce websites. : Businesses using this model sell directly to consumers, such as retail stores or e-commerce websites. C2C (Consumer-to-Consumer) : This model facilitates transactions between individuals, typically through platforms such as eBay or Poshmark. : This model facilitates transactions between individuals, typically through platforms such as eBay or Poshmark. Subscription-Based Models: Businesses offer products or services on a subscription basis, such as streaming services or subscription boxes. Each model presents its own set of challenges and opportunities, and selecting the right one for your business is crucial for achieving long-term success. Building a successful business involves much more than just having a good idea. Several factors must come into play to ensure that the business thrives: Marketing is the backbone of any business. Without a solid marketing strategy, even the best products or services will fail to attract the necessary customers. In today's digital age, online marketing plays a huge role in reaching potential clients. Search Engine Optimization (SEO) SEO is the practice of optimizing your website and online content to rank higher in search engine results. By understanding and implementing effective SEO techniques, businesses can enhance their online visibility, resulting in increased traffic and potential sales. The best businesses know how to treat their customers. Building strong relationships with customers and delivering exceptional service can lead to repeat business and positive word-of-mouth referrals. A strong customer service strategy can differentiate your brand in a competitive market. It's easy for businesses to overlook the importance of sound financial management. Properly tracking income and expenses, managing cash flow effectively, and setting realistic financial goals are all crucial to ensuring long-term sustainability. The business landscape is constantly changing. New technologies, shifting consumer preferences, and evolving market dynamics necessitate that companies remain agile. Here are some of the top trends shaping the business world today: Online shopping has experienced significant growth in recent years, with an increasing number of people opting for the convenience of shopping from home. The rise of platforms like Amazon, Shopify, and Poshmark has revolutionized how products are bought and sold. According to a report by Statista, global e-commerce sales are projected to exceed $6 trillion by 2024. Platform Legitimacy As the e-commerce landscape grows, platforms like Poshmark legitimacy guide have gained significant attention. If you're considering selling on Poshmark, it's important to know whether the platform is legitimate. The short answer is yes. Poshmark has built a strong reputation as a reliable platform for buying and selling fashion items. It's a trusted marketplace that connects users, offering a safe and secure environment for transactions. Businesses are increasingly adopting AI and automation tools to streamline operations and improve efficiency. AI-powered chatbots, customer service platforms, and automated marketing tools are becoming increasingly essential for companies seeking to stay competitive. The COVID-19 pandemic has forever altered the way businesses operate, with remote work becoming the new norm for many industries. Embracing remote work not only helps businesses save on overhead costs but also enables a more flexible and global workforce. To scale your business and expand its reach, you need a solid growth strategy. Below are some key strategies that can help: Building strong professional relationships is essential for growth. Networking allows you to connect with potential clients, partners, and investors. Additionally, strategic partnerships can help expand your reach and provide valuable resources. Innovation is at the heart of business growth. By consistently improving products, services, and processes, businesses can stay relevant in a competitive market. Companies that fail to innovate risk being left behind. Don't put all your eggs in one basket. Diversification involves expanding your product offerings or entering new markets to reduce risk and increase growth opportunities. A business is only as good as its people. Maintaining a motivated and healthy workforce is crucial for long-term success. Businesses must promote a healthy work-life balance for their employees. Overworked employees are less productive and more likely to experience burnout. By promoting flexibility and providing mental health support, companies can enhance productivity and retain top talent. Ongoing training and development enable employees to grow within the company, ensuring they stay current with industry trends and best practices. Investing in employees not only benefits the company but also boosts morale and job satisfaction. No matter how well you run your business, legal and administrative matters are unavoidable. Staying compliant with regulations is critical to avoid potential legal issues. Understanding how to write official documents, such as leave applications, is essential for smooth business operations. For example, an employee who is sick may need to apply for sick leave. Knowing how to structure such documents professionally ensures that all parties involved are informed and your business stays organized. In conclusion, running a successful business requires a combination of good strategy, customer-focused operations, sound financial management, and a willingness to adapt to new trends. By staying informed and proactive, businesses can thrive in today's competitive landscape. Remember, whether you're selling on platforms like Poshmark or dealing with the day-to-day responsibilities of running an office, the key to success lies in consistently delivering value, staying adaptable, and building strong relationships with both customers and employees. Success in e-commerce requires effective marketing, excellent customer service, and a user-friendly website. Focus on building your brand and providing a seamless shopping experience. Leadership, financial management, marketing, and communication skills are some of the most essential skills for running a successful business. Diversification can help reduce risk and increase growth opportunities. However, it's important to ensure that your new ventures align with your business's core competencies. Remote work offers flexibility, allowing businesses to tap into a global talent pool. It also reduces overhead costs and increases employee satisfaction. Setting clear goals, creating a dedicated workspace, and maintaining a consistent routine can help improve productivity while working from home. TIME BUSINESS NEWS
