They will accept a return due to odor if done before acceptance of the item.
Does anyone use Poshmark?
- Thread starter kenzibray
- Start date
TPF may earn a commission from merchant affiliate
links, including eBay, Amazon, and others
I just received an email that a new fee structure will go into place tomorrow.
It sounds better overall. Approximately 5.99% selling fee + approx 5.99% buyer’s fee (~12% total fees from buyer + seller). In the end, I think I will reduce my prices to account for the reduced fees and will also factor in the additional amount the buyer will be paying in their fees. It’s somewhat similar to the Vestiaire collective fee structure (where the price we see for our selling price does not account for an additional fee the buyer sees on their end, so it makes sense to discount to make up for the buyer’s fee in the listing price, in my opinion).
It sounds better overall. Approximately 5.99% selling fee + approx 5.99% buyer’s fee (~12% total fees from buyer + seller). In the end, I think I will reduce my prices to account for the reduced fees and will also factor in the additional amount the buyer will be paying in their fees. It’s somewhat similar to the Vestiaire collective fee structure (where the price we see for our selling price does not account for an additional fee the buyer sees on their end, so it makes sense to discount to make up for the buyer’s fee in the listing price, in my opinion).
Attachments
I got it too and Posh seller influencers are already raving about it. I'm not sure if it's good or bad. I sell luxury and I'd say 95% of offers on VC are not ending up as orders, buyers either ghost me or send messages "but I saw fees and duties, it's too high, gimme additional 30-40% off". Like that.
On Posh there is a huge crowd of extreme lowballers and they will go after sellers with this new reasoning. However, I see a small window of opportunity to give a better price to reasonable buyers. Sometimes 5-8% is a dealbreaker. As well not to lose as much money on bags myself (I recently took a lot of losses like $300-ish for BNWT bags).
I have a couple of items over the $10k mark, which are priced competitively, and I have some hope that for higher priced items that are priced well, it may make a difference.
People are offering within $1k of what I would accept now with the 20% current fee structure. Since even 8% reduction (reducing my price and factoring in their additional fee) is significant.
I do hope the buyer’s fee is built in to the price they see for the item as it is on vestiaire (so that they see the final price when viewing the item, instead of the fee being added at checkout). If they send an offer, I can only imagine that it will show them the total price and they will not be able to cancel an offer they send once it is accepted (as is the case now).
Last edited:
I just received the email. I am strictly a buyer on PM. It will result in an increase in the number of items listed, but fewer sales. Most things are overpriced on PM as it is and by shifting fees to buyers, they are going to demand an even lower price. It did not work out well for Mercari and they had to lay off 45% of their US staff. I predict it will not work out well for Poshmark. Fee after fee is a major turn off for buyers.
I agree with you on this one. I think Mercari went down the slope after they changed their fee structure - I don't think buyers want to pay "fees". There is very little traffic on Mercari nowadays and I afraid the same is awating Posh - sadly so.
At least eBay hasn’t latched onto this disastrous fee structure. I find sellers on eBay are generally more realistic about the worth of their items and the customer service is excellent. I cannot say the same about PM.
I fully agree with your statement regarding customer service. With eBay, you can reach out and get a response; with other platforms - good luck.
I wonder why they didn’t just change the seller fee to 12% instead of splitting the fee between a buyer’s and seller fee. 12% would still be a significant drop and it would be much more straightforward. Maybe they are primarily trying to attract new sellers to the platform.
Sellers will need to lower prices to account for the new fee structure to actually make sales, and not all sellers will do this. Of course prices will look more attractive at first if the fees are only added at checkout. I am wondering if poshmark primarily wants more eyes on the platform, even if another strategy could yield more sales. Poshmark listings always come up at the top of my search results when I google anything at all, so they must get a lot of traffic.
Sellers will need to lower prices to account for the new fee structure to actually make sales, and not all sellers will do this. Of course prices will look more attractive at first if the fees are only added at checkout. I am wondering if poshmark primarily wants more eyes on the platform, even if another strategy could yield more sales. Poshmark listings always come up at the top of my search results when I google anything at all, so they must get a lot of traffic.
I suspect that this might be due to AI. If you are logging into Posh, looking at the listing, buying/selling - here AI has us at hello
all of our online activity is being monitored and thus familiar sites come up at the front of the pecking order of search results
How interesting! Thank you for the insight. I only use the app on my phone, but Poshmark comes up as the top google shopping results when I do a google search (on the desktop computer) for something totally unrelated like food items. Those the AI tracking is so sophisticated now, that I’m sure there may be some communication between my phone and the desktop computer though. It’s like when my husband tells me about some tech item or a vehicle that I care nothing about, and then suddenly I’m getting ads for it on my phone!I suspect that this might be due to AI. If you are logging into Posh, looking at the listing, buying/selling - here AI has us at hello
This. For ultra luxury items, difference in fees is a deal breaker with serious buyers. But for cheap items (mass-market shoes, jeans etc.) I anticipate even lower lowball offers than before due to the fees on the buyers side.
I didn't get the email and can't find it on the site but I'll take your word for it
