Ad Age Marketer's Brief Poshmark’s CMO on recent seller backlash and live shopping
Nov 27, 2024
Steven Tristan Young, CMO of Poshmark and a dynamic leader in the resale market, discusses the booming trend of secondhand shopping fueled by younger generations and the pandemic. He dives into Poshmark's innovative live shopping experiences, enhancing user engagement. Young also addresses the backlash over new seller fees, highlighting the company’s commitment to balancing seller concerns and buyer interests. Plus, he shares insights on holiday initiatives like Secondhand Sunday, promoting sustainable gifting in a thriving marketplace.
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Secondhand Market Growth
- The secondhand market has tripled in size in recent years, growing to nearly $75 billion.
- This growth is driven by the pandemic, economic shifts, and changing consumer behavior, especially among Gen Z and millennials.
Drivers of Secondhand Interest
- The shift to online secondhand marketplaces has made shopping easier and more accessible.
- This, combined with Gen Z and millennials' focus on sustainability and unique styles, fuels interest.
The Surprise of Selling
- Many casual sellers on Poshmark are surprised when items they thought no one wanted actually sell.
- This experience creates a positive feedback loop, encouraging more selling activity on the platform.