Since we recently discussed selling items on the Mercari app, I wanted to briefly pop in and discuss the reselling app Poshmark. (If you are not on the Poshmark App- use my code @33magnolia for a FREE $5).
Posh is currently my leading platform for my reselling business. I think there are a few different reasons for this-
I have been on Poshmark the longest, starting in October 2017 just to clean out my closet & my teenager daughters.
Poshmark is easy for me (I don’t mind the sharing), so I am just drawn to work it more.
Clothing & shoes are my go-to items to sell (although I do dabble with hard goods & collectibles also).
As I am working towards building up my business in 2020, I was intrigued by Poshmark’s January listing challenge.
Poshmark occasionally runs different challenges for sellers, including the ‘Love it or List it’ challenge. The challenge typically runs for one day, or sometimes an entire weekend. The beauty of the January challenge is it will run for…you guessed it. The month of January.
But what does this mean for Poshmark sellers?
Simply put, everytime you list an item you are entered into a drawing. Poshmark has provided the above tracker to help guide you through listing as many items as possible. I’m fearful how this may end up blasting the marketplace with listings, but I’m going to look at the positive and use this as an incentive to build up my store (which I am supposed to be doing anyways).
Prizes will come in the form of cash, and they are also giving away some Iphone 11’s.
Are you a #Posher? What do you think of this month’s ‘Love it or List it’ challenge?
I wasn’t going to do a specific post about Mercari, but recently I’ve received some questions- likely due in part to their commercial campaign that has been airing. (Have you seen it? Thoughts?)
If you are here, you are probably either already a reseller, or thinking about getting in the game. Mercari is an app that you can buy or sell goods of (almost) any type. This has always been one of the biggest pro’s for me. You can sell clothes, books, household goods, tools, toys, electronics, etc. The app itself is free and can also be accessed on a desktop.
If you don’t have Mercari yet, you can download it here. For a time, they are offering a bonus of $10 if you use my code – @33magnolia- or you can use this link: https://merc.li/efBv4Rb
Mercari has been around since 2013, starting in Japan before moving over to the U.S. in 2014. In 2015 they expanded even further into the U.K, although they have since pulled their U.K. operation. The CEO of Mercari currently is John Lagerling. John came to Mercari in 2017 and was previously on the management team of a little known app called…Facebook.
Let’s talk about the Pro’s of Selling your Items on Mercari:
It is absolutely free to post items.
It is easy to use.
They offer several different shipping options.
You can sell (almost) anything.
There is no ‘social’ component, i.e. sharing, that is needed. (Think Poshmark)
The fee on Mercari is a flat 10%.
Now, there are some Con’s of selling items on Mercari as well:
The only way to promote your item is to continually reduce the price- which you can only do every three days.
If you choose to promote items, you are limited to 10 per day.
It is near impossible to search your store for a specific item without scrolling through all your items. (Mercari: PLEASE give us a search or filter option!)
If you prefer to use their shipping (recommended for protection) , it can get pricey with heavier items. I typically only list heavier items (Coats, boots, tools, etc) if they are higher value, or I’ve had a hard time moving on other platforms.
Funds take 2-4 days generally to transfer. This really isn’t a big deal, or even really a con for that matter, but since I transfer money once a week from all platforms, I notice the delay. Both Poshmark and Ebay (Paypal) are in my account next day. Mercari takes an extra day or two.
Set your price. Keep in mind people can & will send offers. Also, if you are offering free shipping, make sure you’ve calculated that in your price.
I’d love to hear your thoughts on the Mercari App. It seems they are making a push for 2020, and I’ve heard a lot of favorable feedback lately on this platform. It’s never been my frontrunner, but I’m encouraged to step this one up this year.
Just to test the waters, and to show you where I am starting from, I thought I’d throw up some quick numbers & graphics to depict December 2019 sales.
Now, as I head into 2020, I’m hoping to turn this into more of a full-time job instead of a regular side-hustle (thus why I am all the more intrigued by what the numbers show).
In addition to some freelance work done inside the home, I also work outside of the home about 30 hours a week. Reselling, is ultimately my *3rd* gig. Keep that in mind when thinking about the time & effort given.
I do plan on documenting that part of the journey as well, to see if spending more time on the business relates to more money in the bank. We will see.
For now- check out some stats from December 2019:
This is just a baseline and I will be using this data to show deviations month to month. There will be much more data looked at as we move on. I will be not only analyzing my data, but that of other resellers- both full & part time.
Remember- in addition to hard numbers as shown, I’m tracking activity logs daily. This will help in determining which activities are bringing the best results, and on which platforms.
So without further ado – Here we go- kicking off 2020 strong!