We doubled down on this year’s PoshFest making it bigger and better than ever as hundreds of Poshers descended from all around the country to meet in sunny Los Angeles. The two day event kicked off on Friday night with a Poshmark Pop-Up at Rebecca Minkoff’s chic Melrose store and continued on Saturday with a full-day chock full of networking activities, speakers, panels, workshops and more!
Don’t worry if you missed the fun, we have the full recap of day one featuring YOU GUYS, our rockstar community below. Click through for all the highlights!
State of the Posh Union with Poshmark’s Founder and CEO, Manish Chandra
Our fearless leader Manish Chandra kicked off the day with his annual State of the Posh Union. He shared about the growth of the community (woah, there are over 2 million sellers on Posh!) and how as people are sharing more (4 million times a day), that a sale is being made every few seconds on the app. Manish talked about where we’ve been and where we’re going and how our diverse and vibrant community is recreating the fashion industry as you all become next generation retailers.
We are Poshmark: Meet the Posher Series
Three Poshers took the stage to talk about their unique journey’s on Poshmark and how the app changes their lives.
- Sharon (@gemmas_treasure) spoke about how after becoming a mom, Poshmark helped her work from home doing something she loved.
- Rebecca (@violettestudios) gave insights on how she grew her business so quickly and provided tips for aspiring entrepreneurs.
- Kim (@poshmishmosh) closed it out with a very emotional presentation on how she overcame health challenges with the support of Poshmark and her Posh sisters. She finished by inviting anyone to stand if they had helped someone else in the app. Everyone was on their feet and there was not a dry eye in the house.
I Dream It, I Work Hard, I Grind ’til I Own It: The Deets on Doubling Your Sales
Key takeaways on how to double your sales:
- Take the time to figure out your girl, your niche, your brand is very important. It helps to make the right choices when stocking inventory.
- Good customer service is a must and it doesn’t stop after your ship the sale. Follow-up with the buyer and thank them, even if they gave you a less than 5 star rating.
- Look for creative marketing opportunities such as creating an Instagram for your business or encouraging customers to take a picture of them wearing their purchase and sharing it.
The Secrets to Resale Success
- Stay up to date on trends! Seasonality matters with your inventory
- Research fair market prices to identify good deals
- It’s important to build relationships with personal clients, consignment shops, and local thrift stores
This is Serious Business
- Call wholesalers or distributors to find out what their best selling pieces are and ask for lower price
- ALWAYS keep your personal and business finances separate
- “You are a business. It is up to you, and only you, to take care of your books, finances, and records.” – Kreithchele (P.S. hire someone to do your taxes!)
- Resale licenses vary among states; simply Google ‘resale license’ and your state to find out how to apply. This is usually free!
- Legalzoom.com is a good resource
Sales and Marketing Magic: How to Cast Your Spell on Customers
- Be authentic to who you are. It’s how you define your branding and the best way to be successful
- If you are stuck, look at your favorite closets and see what they’re doing to be successful. Use that as inspiration and direction for your own closet
The Building Blocks to Become a Boutique
One fab boutique owner, Monika Rose @itsmonikarose, gave her workshop her top three tips on becoming a boutique:
- Be patient and persistent. Success doesn’t happen overnight.
- Poshmark’s wholesale marketplace is a great and easy place to start experimenting with inventory to see what resonates with your customer.
- Think of three words that define your brand and always keep that in mind when stocking inventory.
Three Power Poshers Share Their Journeys from Sellers to Fashion Brands
- Evelyne (@missaisha555) noted that it’s a family affair for her business as everyone in her home has a role on Poshmark and help her bring in up to 20,000 in sales a month. She urged aspiring boutique owners to put in the work to grow their business and to always remain connected to your customers no matter how big you get.
- Suzanne (@scanon) and Tiffany (tdgrable24) who were both successful on Poshmark in their own right, met at a Dallas Posh Party, became friends and launched their own fashion line, Infinity Raine, in the Wholesale Marketplace a month back. They talked about how they got started manufacturing and the importance of following your gut to know what to buy for your customers or when it’s time to make the transition to grow your business.
Ready for Expansion? Here’s How to Grow Your Business Beyond Women’s Fashion
Our VP of Business Operations, John McDonald hosted a lively discussion with Poshers either currently expanding their business or those who are thinking about it. Topics ranged from what are the first steps to expanding your offerings to how being an early mover in a new category can be an advantage on the platform.
Trend Report LIVE
Data is the New Black
The most popular times on the app are more towards the end of the day, around 6-8pm PT. Think about your own time on the app, and utilize this when strategizing shares/activity.
On the rise closet brands:
On the rise boutique items:
MINI + MIDI DRESSES
BLOUSES, TANKS & TEES
AAAAND that’s just Day 1! Stay tuned for more recaps of Day 2, PoshMarket, the Fashion Show, the Posh Party, and more!