If you are new to the resell game on Poshmark or have been there and still can't figure out how to price your items let me offer some helpful suggestions.
Poshmark takes a $2.95 fee from ever sale up to $10 after that it's 20% off of every item over $10.
You always want to start high. Since customers are able to make offers through the site you won't always get your starting price. For example: I just bought a great Michael Kors blouse from Goodwill at $6.99. I'm going to ask $35 to start and will take an offer as low as $15 so I make at least a profit of $5. You never want to go too high or it will scare potential customers away. Everyone is looking for the next great deal!
Another thing to be aware of is when someone makes you an offer it may seem a little low but maybe that's all they have to spend. If you counter with a higher price you better be ready to lose the sale. Most people "walk away" at the counter price and will not come back. Its better to make a little less than you wanted to in order to close the sale. I would only counter if it means you would lose money otherwise.
Do your research!! Search your item on Poshmark to see what others are selling it for. If you want to sell it quicker you can offer it at the cheapest price but my suggestion is to be somewhere in the middle. You can always take a lower offer. You need to also account for the condition of the item. The better the shape, the more you will get.
Do your research!! Search your item on Poshmark to see what others are selling it for. If you want to sell it quicker you can offer it at the cheapest price but my suggestion is to be somewhere in the middle. You can always take a lower offer. You need to also account for the condition of the item. The better the shape, the more you will get.
You will always make more on bundles. I'm not sure how Poshmark reaches the price on bundles but it does equate to a better percentage for you. If you see someone bundling, send them a discounted offer with discounted shipping a lot of times they will accept!! You have more room to work on pricing with bundles!
Only go high when its a highly sought after item with limited quantities. On basic items go as low as you can so people are more willing to bundle and you sell more.
Don't change your prices too much. When you lower your items it will let the people who liked items know on their feed. If you raise and lower again, it will not notify them. Its also best to be consistent so customers trust you know the right price to sell the item at.
Well that's all for today. Tomorrow I will go over how I'm able to sell items at $5 and still make money!
-Jessica Jecker
On Poshmark @jessica_jecker
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