Poshmark slashed fees for sellers and is shifting some of the burden to buyers. It’s also testing a shipping discount program called Posh Pass.
As of October 3rd, sellers now pay a fixed fee of between $1 – $3 plus 5.99% instead of the previous $2.95 plus 20% fee. The fixed fee is $1 for orders under $15; $2 for orders between $15 and $49.99; and $3 for orders $50 and higher. (The order total includes order price, shipping and taxes, where applicable.)
In addition, Poshmark is instituting a Buyer Protection fee; buyers now pay fees identical to the new seller fees (a fixed fee of between $1 – $3 plus 5.99% of the order total). “The Buyer Protection Fee includes Posh Protect, Posh Authenticate (if applicable), 24/7 customer support, and ongoing product improvements,” the selling app explained on its help page.
“We continue to offer ZERO payment processing fees and no other fees for our suite of seller services,” Poshmark said on its blog post announcing the new fee structure.
Also new: Posh Pass, a “new closet-wide shipping discount program which lowers the shipping fee for a closet to $5.95 paid for by Poshmark.” Poshmark automatically began offering the program to Posh Ambassadors on October 3 and will offer it through December 31, 2024. “During this time, the program will be 100% covered by Poshmark, meaning Poshmark will absorb the difference in shipping costs, ensuring that neither sellers nor buyers bear the additional cost.” It said it plans to expand the program to other sellers in the future, though it’s unclear how long it will subsidize the program.
In a letter sent to sellers on October 2, Poshmark called the new seller fee structure “one of the biggest changes to our marketplace since we started the company.”
“Stay tuned for updates on expanding this structure to Canada,” it said.
Really glad I closed my Poshmark buyer account some time ago.
The bulk of my purchases continue to be consummated through Amazon, eBay, and Walmart, because like Mercari, there are simply no bargains to be found on Poshmark.
It’s an insane fee to put onto the buyers’ shoulders. I’m a buyer and to buy on Poshmark the item would have to be so incredible that I can’t resist it–in the past 10 yrs. I’ve never found any item that would be in that category.. If you should like something check eBay for the same item. With all the crossposting it will probably be sold there by the same seller. You’ll get it for less. I’ve decided to give Posh a chance to backout of this policy. If it’s not gone in six months I’m canceling my account and I hope others do too. This is just stupid. Who do they think they are? If Amazon isn’t doing it then you know it’s the wrong move.
To buy on Posh after this the item would have to be so special I can’t resist it and in 10 yrs. of buying nothing has come into that category. If you are shopping on Posh and see an item you like check on eBay for the same item. With all the crossposting it will most likely be there and being sold by the exact same seller. You’ll save money. Meanwhile, I’m giving Posh three most. to blackout of this stupid policy–if they don’t I’m closing my account and hope others do too. Hey Posh–if this was such a great idea Amazon would have done it. One more thing–they just killed all of their sellers’ fourth-quarter business.