Fashion reseller Poshmark is capitalizing on a captive consumer base with short, user-generated videos that aim to make shopping on your phone feel more like, well, shopping
The company has been building and testing a video option for over a year and planned to roll it out in the second half of 2020 but fast-tracked the launch due to the pandemic so it could offer more of a “real-world experience” to shoppers. The new feature allows sellers to show off the ways they styled an outfit they have for sale or give the backstory on how they acquired a particular item, for instance. The content will automatically disappear after 48 hours.
The feature mimics Instagram, which lets influencers and brands tag clothing, furniture or other items in their posts and link to a website where it is available for purchase. Instagram has been doubling down on its shopping features and last year began allowing customers the ability to checkout from some retailers without leaving the app. Social shopping apps such as LikeToKnow.It also offer people the ability to shop the looks that they see on celebrities and influencers.
While many retailers are struggling amid prolonged store closures and a looming recession that has cut into discretionary spending, Chandra says that Poshmark’s business has been fairly steady. A wave of new sellers have turned to the platform for supplemental income after cleaning out their closets or even as a main source of income. The bigger challenge is demand.
“We were concerned in the early days of the crisis,” says Chandra. “But it seems to have balanced out.”
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