It’s official: Poshmark has expanded beyond fashion to allow sellers to list home goods on its mobile selling app. As we reported last week, sellers began listing items on May 30th. The category officially became a “Market” on Poshmark today.
Poshmark founder and CEO Manish Chandra called the expansion a “first step into broader lifestyle categories” while expanding its social marketplace “beyond the closet.”
CNBC said the move pits Poshmark against sites such as Wayfair and Rent the Runway, the latter, it noted, which recently started renting home goods. The publication also noted that Poshmark has raised almost $160 million.
See what readers had to say and leave a comment on the June 4th AuctionBytes Blog post.
Press release follows:
Poshmark, a leading social commerce platform for the next generation of retailers and shoppers, today announced the launch of the Home Market, an in-app marketplace to buy, sell and connect around home decor. Starting today, Poshmark shoppers and sellers can buy, list and discover a wide selection of home decor products, in addition to the 75 million listings in apparel, shoes and accessories already on the platform. With home goods being one of the most highly requested categories from the Poshmark community, this is the first time the company is expanding inventory beyond fashion and makeup, bringing its innovative social commerce model to new retail categories.
“With the launch of the Home Market, we’re taking our first step into broader lifestyle categories and expanding our social marketplace beyond the closet,” said Manish Chandra, founder & CEO of Poshmark. “This Market launch reiterates the power of Posh Markets to scale social commerce and enables Poshmark to continue transforming the e-commerce experience.”
Poshmark launched Posh Markets in July 2018, creating an easy and immersive way for the Poshmark community of 50 million registered users to tap into a diverse selection of categories on Poshmark. The Home Market is the latest in a series of Market launches, and joins the list of immersive communities that exist around women, men, kids, luxury, kicks, prom, maternity, petite, plus-size, activewear, makeup, gifts, boutiques, and wholesale.
The launch of the Home Market will expand the Poshmark platform, providing new opportunities for its five million Seller Stylists to continue scaling their businesses, while also giving shoppers an entirely new way to shop home goods with an emphasis on:
- Discovery & Exploration: Discover new brands and items to elevate every area of a home from decor to organization to holiday and beyond.
- Connection: Connect with Poshers who share interior style preferences and inspire purchases.
- Tailored Content: Explore specialized markets, making it quicker and easier to find new products.
New inventory supported in the Home Market include accents, wall art, holiday, bedding, bath, party supplies, office, and storage and organization. Sellers’ Home Market listings will be supported by Poshmark’s entire suite of tools including Posh Protect, Posh Post, and Posh Authenticate.
A complete list of supported home decor inventory can be found here. For more information, please visit Poshmark.com and to download the latest version of the app for iOS and Android, visit the App Store or Google Play.
SOURCE: Poshmark Press Release