poshmark-competitors

Poshmark Competitors

Poshmark is a social commerce marketplace where users can buy and sell new or used clothing. The company was founded in 2011 by Manish Chandra, Tracy Sun, Gautam Golwala, and Chetan Pungaliya. Poshmark is one of many companies looking to profit from the explosive growth in the second-hand clothing and resale industry, which is expected to be worth around $51 billion by 2023. Scores of women, in particular, are opting to sell their unwanted fashion items online instead of donating them to charity or thrift stores.

ThredUp

thredup-business-model
ThredUp is an online sustainable fashion company founded by James Reinhart in 2009. Reinhart got the idea for ThredUp after realizing he had a closet full of clothes he did not want to wear and could not sell. ThredUp makes money by charging a commission on every piece of clothing sold on its platform. The exact commission depends on the listing price, which the company determines by analyzing the brand, size, seasonality, quality, and age of the item. ThredUp also charges customers a fee if they want to have their old clothing items processed by the company within a week.

ThredUp is an online consignment and thrift store founded by James Reinhart in 2009.

The company claims it operates one of the largest online platforms for women’s and kids’ apparel, featuring over 35,000 brands from Gap to Gucci. To date, the company has processed over 100 million garments and has saved customers $3.3 billion off recommended retail price.

Sellers on the platform use a payout estimator to determine how much their unwanted clothes are worth. Unsold items can be returned to the seller or the company will recycle them.

Depop

how-does-depop-make-money
Depop is a peer-to-peer shopping app founded by Simon Beckerman in 2011 at the Italian technological incubator and start-up center H-FARM. Depop experienced tremendous growth in the following years, thanks largely to word-of-mouth advertising and social sharing. The platform now boasts more than 21 million users. Marketplace giant Etsy has plans to acquire Depop in the third quarter of 2021 for a cash deal worth $1.625 billion.

Depop is a peer-to-peer social eCommerce company with a significant presence in the United States, United Kingdom, Australia, New Zealand, and Italy.

The vast majority of items sold on Depop are used, vintage, or repurposed clothing. The platform is modeled on Instagram, allowing users to post pictures to a profile page along with descriptions, product-specific hashtags, and prices.

Depop has a user base of 21 million with most under the age of 26. The platform is the 10th most visited shopping platform in the United States for Gen Z consumers.

Vinted

how-does-vinted-make-money
Vinted is an online shopping marketplace with a strong secondhand component. The company makes money via its buyer protection service. The buyer pays a fee to Vinted in exchange for services like customer support, insurance, and tracked shipping; Shipping costs; Wardrobe Spotlight (helping users boost the visibility of their items). And Bumping listed items.

Vinted is an online marketplace allowing users to buy, sell, or exchange new and preloved clothing items and accessories. The company was founded in Lithuania by Milda Mitkute and Justas Jankauskas and now boasts a community of 45 million users around the world.

Vinted has a focus on sustainable, high-street brands such as Zara, New Look, and Boohoo. The app is simple to use and, unlike competitors, is free for sellers to list their items.

Vestiaire Collective

Vestiaire Collective is a pre-owned sustainable fashion platform founded by Maximillian Bittner in 2019. Since its inception, the company has encouraged users to get their high-end fashion items out of storage and back into circulation.

To that end, it uses a resale model with a curated catalog of designer brands such as Stella McCartney, Celine, and Isabel Marant. Each item is verified for authenticity and quality, with over 3,000 such items posted to the platform each day.

The company reached unicorn status in March 2021 after announcing a €178 million round of funding to contribute to app technology enhancements.

Tradesy

Tradesy is an online resale marketplace for women’s fashion founded by Tracy DiNunzio in 2009. Although the company started as a platform where brides could buy and sell wedding dresses, Tradesy now offers a range of high and low-end fashion items and accessories.

For sellers, Tradesy offers a seamless fulfillment process. The company offers product image enhancement and a pre-paid shipping kit with branded packaging while also taking care of any product returns.

In the United States alone, Tradesy has over 7 million users saving up to 90% on luxury and designer clothing items.

Key takeaways:

  • Poshmark is a social commerce marketplace where users can buy and sell new or used clothing. The company is one of many looking to profit from the explosive growth in the second-hand clothing and resale industry.
  • Poshmark competitors include online consignment and thrift store ThredUp and peer-to-peer social eCommerce company Depop. Both have user bases in the tens of millions.
  • Lithuanian platform Vinted has a significant global presence and allows sellers to list items for free. Vestiaire Collective is a recent addition to the list of Poshmark competitors, with over 3,000 luxury preloved items posted daily.

Read Next: Poshmark Business Model.

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