Poshmark vs Etsy - Which One Is For You
Choosing the right online marketplace platform for your business can be challenging since new platforms are constantly emerging. Poshmark vs Etsy stands out as one of the commonly discussed debates among aspiring business owners and seasoned sellers. Since each app offers unique features, navigating through the pros and cons is overwhelming. So, buckle up, because we'll show you how to make a decision between the two fast.
Is reselling on Etsy vs Poshmark the right choice for you? Both platforms rank among the best online-selling platforms. Etsy's target audience is the vintage crowd that seeks rare and handcrafted finds. On the other hand, Poshmark is heaven for fashionistas and individuals seeking luxury accessories and clothing. Mainly base your choice on the type of times that are going to be sold.
What is Poshmark?
One of the best social commerce platforms that allows users to sell or purchase brand-new or used shoes, accessories, and clothing is Poshmark. It was created in 2011 and since then has gradually expanded, reaching 80 million users across Canada, India, the USA, and Australia.
Poshmark's interface mixes social media with e-commerce, enabling online clothing resellers to create virtual "closets" and interact with potential buyers through shares, likes, and comments.
What is Etsy?
A global digital marketplace that specializes in unique and vintage items, Etsy, was launched in 2005. It is a special hub for crafters and artisans, and 54 million resellers use it all over the world. A fun fact to know is that about 86% of accounts are owned by female sellers - go girl power!
Unlike other apps, Etsy's focus is on promoting individual creativity and allowing users to set up personalized shops and share their passion and their stories. It's a go-to destination for people seeking to sell distinctive goods online.
Consider This 5-Step-Process to Determine Which Online Marketplace Is Better for Your Business
As a new seller, navigating the vast second-hand market can be difficult. But, following our five-step process would help with understanding and determining your goals. This methodology involves assessing the user base, shipping policies, platform's fees, evaluating product fees, and analyzing the platform's tools. Use this systematic approach to succeed in e-commerce.
Answer This - What Demographics Do You Want to Offer Products Online?
What is your target demographic? The Poshmark and Etsy's audience stands in contrast. One app attracts demographics that values sustainability, originality, and artistic work.
The other is more focused on fashion-forward individuals, especially those looking for branded and trendy new and vintage clothing. When it comes to age, Poshmаrk's demographic is young adults between 19 and 25 years old. The median age of Etsy's users is 39.
Etsy vs Poshmark - What Items Are High in Demand on Each Platform in 2023
As 2023 unfolds, authentic trends on popular marketplaces continue to evolve. The top-selling items emerge, and in case a new business needs to be started, it's important to do some product research and check whether a particular item would find potential buyers on each app.
Here is a list of popular items on Etsy that an aspiring seller can sell and expect profit:
- Home decor,
- Digital art print,
- Personalized gifts,
- And handcrafted jewelry.
On the other hand, the best-selling items on Poshmark include a bit different products, such as:
- Trendy limited-edition sneakers,
- Designer handbag,
- Athleisure wear,
- Retro clothing.
Determine Which Fee Structure Is More Affordable
The mandatory fees for using a particular online marketplace will determine the success of the online shop, especially in the beginning stages. Make sure that the platform won't eat into the profit and prevent you from expanding.
Etsy's listing fee for an item is $0.20 (£0.16). On top of this, there is a 5% transaction fee on the price of the product (this includes the price of shipping that the sellers set) and a 3% + $0.25 payment processing charge for anything sold using the Etsy Payment system.
Conversely, Poshmark's fee structure is more straightforward. For sales under $15, the app takes a flat fee of $2.95, and for more expensive sales, a commission of 20% is deducted from the sale price. The best app in terms of affordability depends on the average price of the items a seller lists and how frequently they list.
Since Etsy's fees are more complex, here is a video with some helpful information.
Consider Ease of Use and Opportunity to Earn More Money Selling Particular Items
What is easier to navigate and what will bring in more money for you? Etsy, with its detailed listing process, allows sellers to provide additional information for their products. However, the detailed approach may be time-consuming for some. In contrast, Poshmark offers a simple streamlined listing process suited for quick turnovers.
For maximizing profits, consider each platform's policy. Poshmark's straightforward commission system and efficient shipping policy may make it more profitable for reselling trendy fashion items. Meanwhile, Etsy's policy, which includes protections for unique crafts, could provide artisans with a more lucrative platform for their one-of-a-kind creations.
Poshmark vs Etsy - Which One Is Worth Your Time
Now that you are familiar with all the details, it's time to make a decision. In case an e-commerce business is created without any money, check whether one of these platforms guarantees success in the early stages.
Calculate the expected expenses and do a bit of product research. The decision is clear if the factors like demographics and the type of product that will be sold are already known. However, individuals starting from scratch need to do a bit of research before choosing one.
Hard to Make a Decision? Use a Crossposting Tool and Choose Both Online Selling Platforms
Sometimes, reselling on one platform is just not enough. In this situation, the best course of action is to invest in a crossposting tool. With online selling tools, promoting listings on different sites is possible. When a buyer purchases a product, the cross-listing software de-lists it automatically. Another perk of multichannel listing software is that creating listings that will be published on eBay, Depop, Shopify, Etsy, and Poshmark can be done just through one interface. Use Zipsale, a leading crossposting software in the world of digital marketplaces. Sign up today!
