With your help over the past two years, Poshmark has become the go-to destination for anyone who wants to buy and sell fashion straight from her closet. We’ve made it so incredibly easy that our community uploads a million dollars worth of items each day, and in the past year alone, you have bought and sold over 1.5 million items from each other (whoa, that’s a whole lot of shoes, dresses and handbags)! As a result, Poshmark has created one of the largest fashion stores in the country powered by the women of America.
Today we’re excited to introduce the world’s first ever report on peer-to-peer fashion trends from the trenches of the booming Closet-Sharing Economy where women are unlocking the value in their closets and empowering themselves around shopping. Curious what the top selling brands on Poshmark are? What moves the fastest from listing to sale? When the best time to be on the app is? Check out this infographic recapping 2013 on Poshmark.
Hungry for more? Here are some of Poshmark’s additional key findings from the Closet-Sharing Economy:
Handbags, shoes, jewelry and dresses are the most popular items in the marketplace: Handbags in general take the top spot in this year’s Closet-Sharing Economy report, reflecting broader market trends where handbags represent one of the fastest growing fashion segments. This segment is growing in the post-recession environment where consumers are getting smarter about their spending. This has led to a boom in Poshmark’s secondary market where women are still buying the top global brands, but doing so at up to 70 percent off original retail prices. In addition to handbags and shoes, other popular categories include jewelry and accessories, followed by dresses and skirts.
Was 2013 the year that Android finally became fashionable?: With the introduction of Android users into the marketplace in late 2013, Poshmark is seeing very little difference in their buying and selling activity versus iOS users, leading the company to believe that there is a trend in style savvy women switching to Android devices.
Social shopping leads to sales: In addition to being the largest mobile fashion marketplace, Poshmark is a unique social community in which women interact seven to eight times per day for 20-25 minutes on average. That means the average Posher has spent over 150 hours on Poshmark in 2013 and the top 25 sellers average over 100,000 people following their closet. Besides buying and selling, they are liking, commenting and sharing over a million times every day.
Women love to party: When the company first started throwing their signature Posh Parties where women gather around in the app in real-time to buy and sell within a certain theme or designer, they were doing three to four parties a week and would see approximately 50 listings for each party. Now the app offers three parties a day, seven days a week and the largest evening party has seen over 250,000 listings. At any given moment, a party can have over 50,000 people simultaneously sharing and shopping in real-time.
By looking at a combination of revenue, orders and listings, Poshmark compiled its 2013 Closet Sharing Report based on over 1.5 million items sold in its mobile fashion marketplace from January 1 – December 31, 2013 to determine popularity and sell through of the brands and products across America’s connected closets.
For a close-up version of the infographic, click here and share the PoshLove on social media!