Poshmark is known for its setup as a social commerce platform where users can buy and sell high-quality, gently used or new goods. The company recently announced that it will be expanding its offerings from fashion to home Decor.

The Update

According to a press release, Poshmark users will now be able to buy and sell home Decor Items on the in-app marketplace. The inventory will feature categories for wall art, accents, bedding, bath, holiday, office, storage and organization, and party supplies. This will allow users to buy and sell items such as wallpaper, door mats, coffee table books, accent pillows, ornaments, display shelves, jewelry organizers, gift wrap, cake toppers, and more.

Sellers in the home category have been allowed to upload their new products starting May 30. The update went into effect on June 11, but the early date given to sellers permitted Poshmark to build up its offerings.

Full Support for Home Decor

Not only will users now be able to buy and sell their home items on Poshmark, but they will get full support for those sales. This includes access to and support from the various Poshmark tools, such as Posh Authenticate, Post Posh, and Posh Protect.

Reasons for the Expansion

Poshmark’s expansion into the home category positions the company to take advantage of the vast home decor market, which is valued at $582 billion. According to Manish Chandra, the founder and CEO of Poshmark, this is the company’s first step to move into other lifestyle categories.

The company wants to expand beyond just the closet with its social marketplace, and home decor seemed like the logical next step. Chandra also indicated that the new venture shows Posh Markets’ ability to scale its social commerce platform and continue changing the e-commerce experience.

Other Companies Are Also Expanding Home Offerings

Poshmark is not the only company entering or expanding offerings within the home goods and home décor category. About a year ago, Walmart unveiled a new bedding and mattress brand and updated its online Walmart Home section. Since then, it has revealed two more private labels within the home category.

Resale Is Also Growing

The resale market as a whole has been growing, so it makes sense that Poshmark would take advantage of its placement in this thriving market. Some of the resale growth comes from the desire of shoppers, especially among Gen Zers, to reduce their carbon footprint.

Source:

https://www.retaildive.com/news/poshmark-expands-into-home/556556/

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