Online apparel platform Poshmark, Inc. on Friday (Oct. 8) announced during its annual conference, PoshFest, its eCommerce future, and unveiled a new team that will focus on supporting the company’s millions of sellers in the U.S., Canada, Australia and India.
Poshmark also named Co-founder Tracy Sun as the company’s first senior vice president of seller experience.
“Our seller community has transformed from a decade ago, with many scaling well beyond casual selling to new levels of success, and we are committed to fueling their ambition and aspirations for growth,” said Manish Chandra, founder and CEO of Poshmark, in the company announcement.
“Paramount to this is placing a trailblazer at the helm of the seller experience, ensuring best-in-class technology and robust support for our sellers,” he said. “I can think of no one more poised for the task than our co-founder, Tracy Sun. Her passion for the community drives her vision, and we look forward to helping our sellers reach new levels of growth with this next iteration of the Poshmark experience.”
Poshmark also debuted My Shoppers and Closet Insights, two new tools to help buyers and sellers on the platform. My Shoppers is a virtual in-store associate, while Closet Insights is a dashboard that gives sellers real-time inventory and sales data.
“We want to enable everyone to participate in the digital economy by making it simple and easy to sell online, and in doing so, upend the entire eCommerce experience as we know it,” said Sun. “We believe the future of shopping is in the hands of millions of people who seek a simple, social and sustainable way to shop, and we want to be their number-one destination.”
Related news: Secondhand Market Presents ‘Big Opportunity’ for Retailers Ahead of Holidays
PYMNTS research with LendingClub shows that 125 million U.S. adults, or 54% of consumers, live paycheck to paycheck, including 70% of millennials and 53% of people who earn between $50,000 and $100,000 per year.
A report released by thredUP and GlobalData earlier this year projected that in apparel alone, resale is expected to grow 11 times faster than the broader retail clothing sector over the next five years, with the secondhand market reaching $77 billion by 2025.
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