Poshmark, the social commerce site that lets people buy and sell new and used goods to each other, launched a paid marketing tool on Thursday that allows sellers to promote their entire store at once.
Poshmark's new feature called “Promoted Closet” uses machine learning to automatically promote individual product listings from a seller's entire inventory, identifying shoppers' search terms and targeting them for promotion. Match with the product.
Promoted Closet works like the “pay-per-click” model of Etsy, Amazon, and Google Ads. Merchants can set the budget they want to pay each week and only charge when shoppers select promoted items. You have the option to set your budget manually or get recommendations from Poshmark, which takes into account the size of your closet, the type of listing, and the value of the brands listed to determine the demand and competition for those items.
There is also an analytics dashboard where sellers can view impressions, clicks, revenue, return on ad spend, cost per click, and click-through rate. The company recently expanded the amount of historical data from his 30 days, allowing a seller to view his full year's worth of sold listings data.
Poshmark's new feature has been in beta to tens of thousands of sellers since early 2023, and the company says it helped testers increase sales by 43%. Starting today, it will be officially available to all users in the US on both desktop and mobile. For a limited time, Poshmark is offering his 7-day free trial.
Poshmark did not say when the feature would roll out to Canada, the only other market where the platform is available. (Although previously present in other markets, the company suspended international operations in October.)
Since being acquired by Naver last year, Poshmark has made several enhancements to its resale marketplace. Examples include “Posh Shows,” a feature that hosts live auctions, and “Share Shows,” where users collaborate with other sellers to gather viewers. There's also Posh Lens, an AI-powered visual search tool that allows shoppers to take a photo of a specific item and find related items.
Poshmark also offers other marketing services, including Bulk Listing Actions, which lets sellers list multiple items with one click, and My Shoppers, a data-driven tool that lets sellers make offers to multiple shoppers at once. It offers.
“We're doing a lot more work on the social and community side, but also on the generative AI side,” co-founder and CEO Manish Chandra told TechCrunch. “A number of announcements from our company over the next six to eight months will include [generative AI.]”
Poshmark has over 130 million users in the US and Canada. The seller has earned more than $7 billion on this platform.