Poshmark Launches Promoted Closet, a Simple and Powerful Marketing Tool that Drives Increased Engagement and Earnings for Sellers

Innovative new product has demonstrated strong early results and adoption, with participating sellers seeing a 43% increase in sales

REDWOOD CITY, Calif., May 16, 2024 /PRNewswire/ -- Poshmark, a leading fashion resale marketplace powered by a vibrant community and real-time social experiences, today launched Promoted Closet, an easy-to-use and highly effective paid marketing tool to help sellers accelerate sales and drive increased engagement with their listings, complementing Poshmark's suite of seller tools. Available in the U.S., Promoted Closet leverages machine learning to match shoppers' search terms with promoted listings, ensuring relevancy and enhancing sellers' ability to earn on Poshmark with just one click.

Promoted Closet was built iteratively in partnership with Poshmark's community over the last year. A highly requested service, Promoted Closet helps all sellers — regardless of the size of their closet, previous experience or amount of free time — drive engagement and grow their sales. By using Promoted Closet, sellers benefit from:

• Promotion of their entire Poshmark Closet: Simply set a weekly budget and let it run. Poshmark automatically promotes available listings from participating sellers to shoppers in their search results and on Brand pages. Budget is only spent when a shopper clicks on a promoted listing.
• Access to powerful performance insights: Sellers unlock listing-level data reports, including the number of impressions, clicks, and sales on promoted listings, as well as insights such as return on ad spend, cost per click, and clickthrough rate.
• Increased engagement and sales: Sellers who have participated in Promoted Closet have seen a +43% increase in sales and an +80% increase in listing page views.

"Our priority has always been to build a best-in-class platform and vibrant community where sellers can pursue their personal passion and achieve economic empowerment, and with the introduction of Promoted Closet, we're enabling sellers to sell more while forging new connections with shoppers," said Manish Chandra, founder and CEO of Poshmark. "As the newest addition to Poshmark's rich repertoire of seller tools, Promoted Closet unlocks a simple way for sellers to drive visibility to their closets while helping shoppers discover items they've been looking for, cementing Poshmark as the number one destination for fashion resale."

Participating Promoted Closet sellers have already seen a strong impact on their businesses:

• @llaird56: Linda (she/her), a full-time seller specializing in handbags and accessories who uses her earnings to supplement her retirement income, was an early adopter of Promoted Closet and has consistently seen daily sales and increased earnings since participating.
• @experiventure: Lance (he/him) and Lora (she/her), a married couple who sell part-time on Poshmark to pay for international vacations, appreciate the simplicity of Promoted Closet and now make daily sales since using the service.
• @classysapphire: Dina (she/her), a full-time seller who initially joined Poshmark in 2016 to pay off student loans and has since turned her closet into a six-figure business, has seen more orders, offers, likes, and closet exposure since using Promoted Closet, resulting in her strongest performing year to date.

Promoted Closet complements Poshmark's suite of innovative, no-cost social marketing services — including Bulk Listing Actions, My Shoppers, and Share Shows — and supports the company's growing community and their businesses. Today, Poshmark's community encompasses over 130 million people across the U.S. and Canada, who have collectively earned over $7 billion. Together, they are shaping a more circular future of fashion.

Sellers are invited to join Promoted Closet on a first come, first-serve basis with a limited time opportunity for a free trial. To learn more and sign up for access, visit poshmark.com/promoted-closet/learn.

About Poshmark, Inc.
Poshmark is a leading fashion resale marketplace powered by a vibrant, highly engaged community of buyers and sellers and real-time social experiences. Designed to make online selling fun, more social and easier than ever, Poshmark empowers its sellers to turn their closet into a thriving business and share their style with the world. Since its founding in 2011, Poshmark has grown its community to over 130 million users and generated over $10 billion in GMV, helping sellers realize billions in earnings, delighting buyers with deals and one-of-a-kind items, and building a more sustainable future for fashion. For more information, please visit www.poshmark.com, and for company news, visit newsroom.poshmark.com.

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SOURCE Poshmark, Inc.