I increased my ASP gradually over the last year. I used to sell mostly in the $30-$50 range with an average COG around $5. Now I've moved that up to selling in the $50-$100 range with a corresponding average COG up to $10. We don't have a GW bins nearby and there aren't many buy/sell/trade stores either so my primary sources are Goodwill, Savers and Salvation Army stores. I only source on 50% off sale days to get the best prices.
I'm so excited that you're bringing back this business model. I started reselling 3 years ago and binge watched hours of your videos. I learned so many bolo brands from you and soaked up all the info I could. Looking forward to future content!!
Mogi, I just recently started following you and I find peace listening to your thoughts and ideas. I started my Poshmark business recently this year and I’ve been having a great experience. However, when I started I was a bit overwhelmed with the expectations I was setting for myself and trying to meet those goals. Now, after a few months and experiencing the app, I feel like I can take it slowly and set easier goals. I’m also a mom of young babies. When you started talking about wanting to have time for your family, I related with that. I think you are taking the right steps. Becoming a mom does change you. I love that you are prioritizing your family and kids. That’s the best way to go. I also had to redefine my approach to inventory and sourcing to make it efficient and less complicated. I’m looking forward to learning more from you and following your progress. Thank you for sharing it with us
This is basically the business model that I want to transition to as well! I love sourcing at BST (and online)! Unfortunately I don’t have a bins near me, but I do have some cheaper thrift stores and might try yard saling as well. I can wait to hear how this goes for you! And I’d definitively be interested in paying a small fee for regular bolo lists, especially if you can highlight specific styles within brands as well!
hI, ive been watching your channel for awhile now but took a break from watching reseller content because it becomes too mind cluttering and kinda adds to the chaos sometimes lol. Glad I came across your newest video on your other channel! I also am a stay at home mom with 3 boys and homeschool so we are always together. My husband quit his job so we can all be together and he can help me with the kids. So you can imagine how chaotic it can be in my home trying to work lol. You hit alot of my struggles with wanting to take my work less seriously yet still put in enough effort to make good money. I dont want my business taking up so much mental space when i love spending my time with loving on my family. I may need to look into buy sell trade stores as I havent thought of doing that. We have Platos closet but Im not sure if thats the same. I also source at the bins and regular goodwills. I relate so much to not really knowing what youre going to come across at those places. I appreciate your wisdom and thank you for taking the time to make this podcast! God bless you :)
This is the move. I am really looking forward to the content about this because there are very few people doing this on TH-cam and I find myself searching for it. Happy for you!
It's really hard to tell how this might have affected us because we're now closing in on Christmas. I don't really sell many giftable items, so my closet slows down around this time anyway before recovering nicely in January. That said, I still feel like I'm seeing more of a ratio leaning towards how much I'm selling on ebay. I would like search to be improved--or at least fixed. There's an issue right now where if you search by Just In, it seems to reload the results once you scroll so far down (I'm on desktop). The listings are then in a completely different order, and some are possibly even missing from the second load of results. It wasn't a thing until recently. Also shipping between the US and Canada would really help. People are always flipping between the two to ask about shipping. I usually have to redirect them to ebay.
I agree with you - have been changing my sourcing strategies as well towards buy sell trade pickups - but my bins location in Long Island City is pretty dismal. Very labor intensive. It’s not sustainable but lately I have been bringing things not selling from my closet to buffalo exchange.
Great conversation! October wasn’t great for me sales wise and I’ve really been struggling to balance my time, so I decided to concentrate on shoes. This category is performing the best for me. I also wanted to source more efficiently and sticking to one niche has cut my sourcing time way down. We’ll see how it goes 🤞
I was surprised when you first switched to a volume business model when you had a baby. The bins are so tiring lol and time-consuming! Time is our most precious resource and time with your babies won't be wasted. Best of luck to you! You'll do great! Appreciate the content
I love to source higher end items but I find, generally, items listed for over $100 tend to take longer to sell. I’ve had to send some higher end items to RR or TU to sell expensive items. I had a few amazing dresses that retail for over $1K that I couldn’t sell myself but sold easily at RR and TU for a good amount of money for me. For example, a Piazza Sempione $1,200 dress that I had listed for $100 over 2 years. Then sold with an $85 payout to me on TU. I currently have a beautiful MARNI dress that I’ll be sending to RR soon.
It’s so different for me because all of my inventory is free.. My biggest problem is that I don’t have enough time to post everything I do it full-time but once I get one box posted, I’m getting more calls to pick up more boxes… I guess there could be bigger problems, but it’s overcrowding my garage so much that I may have to think about a storage unit .. I definitely don’t want to do that as that will eat into my profit for sure.
@ friends and family, I have several family members that clean homes for the “rich”.. every shift they come home with bags upon bags of stuff, they call me and I come get it. Some friends I do a 50/50 deal, kind of a consignment, I pay out twice a year on what I’ve sold.
I hire a very part time assistant to photograph, measure, and list and draft. I have templates built for each product type. Even my used, previously owned condition is spelled out. They just add flaws to the end. I pay per hour souring training I may give up $2 per item. I gladly give up profit to free my time to source or play with kids amd grandkids. My ASP is $55 to $85 . I can source for better items because I have the time. Hard to explain but it works.
With respect to research, now that I spend more time at buy sell trade stores, I am encountering a lot of new brands and seeing what is most expensive and learning that way.
Love you and your podcast! Wishing you the best of luck in your new business model!! Would you ever considering buying bulk inventory from places like thredup to save time searching the bins?? I was considering trying that but not sure if it’s too risky!! Also, yes please to bringing back Mogi boxes!! ❤
Poshmark in general has just been so slow the last few months but I still made sales with the new fee structure, I think it was the shipping. eBay is double in sales now for me compared to Posh. It is interesting that since they went back to their old fee structure I have only had two sales on Poshmark in a week 😅… Heck even Mercari is doing better than Poshmark right now lol
Have you considered NOT accepting returns? Or do you feel accepting returns helps your sales? Since Posh doesn't accept returns and people still shop there I think it's fine. And buyers know they are can return on ebay if INAD. I do not accept returns. I dont want the hassle or mental anguish.
I can see it working theoretically. I couldn’t pull this off in Canada 😢 You guys have so many more people and have a way cheaper COG. And it sells for more as opposed to us where it costs more and sells for less.
I’m surprised you were shocked they went back. Changing things back and forth is just what Poshmark does. I said it would happen a week into the fees change.
I would like to make my own website or use my TH-cam channel for affiliate marketing. The problem is with your own website is the traffic. Poshmatk gives you lots of traffic. If you have a passion let’s say motherhood right now you can promote your closet through motherhood topics samples etc and making videos about your day as mom, etc. for me my passion is my faith spirituality awakening journey growing as a woman, overcoming family problems abuse etc I would like to talk about this. I’m also interested in a women’s circle doing craft nights sewing etc, so using posh as a hub for advertising products etc not sure yet…
Love this podcast. Would you consider working with a wholesaler who can source for you? I source for resellers and I'm local as well. I can reach out to you through your business email!!
I increased my ASP gradually over the last year. I used to sell mostly in the $30-$50 range with an average COG around $5. Now I've moved that up to selling in the $50-$100 range with a corresponding average COG up to $10. We don't have a GW bins nearby and there aren't many buy/sell/trade stores either so my primary sources are Goodwill, Savers and Salvation Army stores. I only source on 50% off sale days to get the best prices.
That’s great, I was wondering do you do live shows?
sounds like a great plan especially where you are in life with motherhood. you're definitely going to excel at it! Good luck girl!!
I'm so excited that you're bringing back this business model. I started reselling 3 years ago and binge watched hours of your videos. I learned so many bolo brands from you and soaked up all the info I could. Looking forward to future content!!
So excited you are starting a podcast!
Thanks,
Monica
Mogi, I just recently started following you and I find peace listening to your thoughts and ideas. I started my Poshmark business recently this year and I’ve been having a great experience. However, when I started I was a bit overwhelmed with the expectations I was setting for myself and trying to meet those goals. Now, after a few months and experiencing the app, I feel like I can take it slowly and set easier goals. I’m also a mom of young babies. When you started talking about wanting to have time for your family, I related with that. I think you are taking the right steps. Becoming a mom does change you. I love that you are prioritizing your family and kids. That’s the best way to go. I also had to redefine my approach to inventory and sourcing to make it efficient and less complicated. I’m looking forward to learning more from you and following your progress. Thank you for sharing it with us
This is basically the business model that I want to transition to as well! I love sourcing at BST (and online)! Unfortunately I don’t have a bins near me, but I do have some cheaper thrift stores and might try yard saling as well. I can wait to hear how this goes for you! And I’d definitively be interested in paying a small fee for regular bolo lists, especially if you can highlight specific styles within brands as well!
I have this exact same business plan and all I would say is try to build credit in multiple buy sell trade stores
Being a SAHM is the GOAT! Single mom here, full-time reseller, and I homeschool.
Hi. How many items did you have in your store before you could go full-time?
@@lifeofmim It's not really about how many items in the store, it's about are they good items that will sell.
hI, ive been watching your channel for awhile now but took a break from watching reseller content because it becomes too mind cluttering and kinda adds to the chaos sometimes lol. Glad I came across your newest video on your other channel! I also am a stay at home mom with 3 boys and homeschool so we are always together. My husband quit his job so we can all be together and he can help me with the kids. So you can imagine how chaotic it can be in my home trying to work lol. You hit alot of my struggles with wanting to take my work less seriously yet still put in enough effort to make good money. I dont want my business taking up so much mental space when i love spending my time with loving on my family. I may need to look into buy sell trade stores as I havent thought of doing that. We have Platos closet but Im not sure if thats the same. I also source at the bins and regular goodwills. I relate so much to not really knowing what youre going to come across at those places. I appreciate your wisdom and thank you for taking the time to make this podcast! God bless you :)
This is the move. I am really looking forward to the content about this because there are very few people doing this on TH-cam and I find myself searching for it. Happy for you!
Wow thanks for all the history! I didn’t know all of this.
It's really hard to tell how this might have affected us because we're now closing in on Christmas. I don't really sell many giftable items, so my closet slows down around this time anyway before recovering nicely in January. That said, I still feel like I'm seeing more of a ratio leaning towards how much I'm selling on ebay. I would like search to be improved--or at least fixed. There's an issue right now where if you search by Just In, it seems to reload the results once you scroll so far down (I'm on desktop). The listings are then in a completely different order, and some are possibly even missing from the second load of results. It wasn't a thing until recently. Also shipping between the US and Canada would really help. People are always flipping between the two to ask about shipping. I usually have to redirect them to ebay.
I agree with you - have been changing my sourcing strategies as well towards buy sell trade pickups - but my bins location in Long Island City is pretty dismal. Very labor intensive. It’s not sustainable but lately I have been bringing things not selling from my closet to buffalo exchange.
Great conversation! October wasn’t great for me sales wise and I’ve really been struggling to balance my time, so I decided to concentrate on shoes. This category is performing the best for me. I also wanted to source more efficiently and sticking to one niche has cut my sourcing time way down. We’ll see how it goes 🤞
Since they are back to the 20% sales have been very slow only has 2 sales because I accepted low ball offers.
I was surprised when you first switched to a volume business model when you had a baby. The bins are so tiring lol and time-consuming! Time is our most precious resource and time with your babies won't be wasted. Best of luck to you! You'll do great! Appreciate the content
I love love that ur all about ur babies ✝️💜 my is almost grown 17 yrs old and I don’t regret given up a fancy career to be with him 😊
I love to source higher end items but I find, generally, items listed for over $100 tend to take longer to sell. I’ve had to send some higher end items to RR or TU to sell expensive items. I had a few amazing dresses that retail for over $1K that I couldn’t sell myself but sold easily at RR and TU for a good amount of money for me. For example, a Piazza Sempione $1,200 dress that I had listed for $100 over 2 years. Then sold with an $85 payout to me on TU. I currently have a beautiful MARNI dress that I’ll be sending to RR soon.
It’s so different for me because all of my inventory is free.. My biggest problem is that I don’t have enough time to post everything I do it full-time but once I get one box posted, I’m getting more calls to pick up more boxes… I guess there could be bigger problems, but it’s overcrowding my garage so much that I may have to think about a storage unit .. I definitely don’t want to do that as that will eat into my profit for sure.
Where are you getting your inventory from?
@ friends and family, I have several family members that clean homes for the “rich”.. every shift they come home with bags upon bags of stuff, they call me and I come get it. Some friends I do a 50/50 deal, kind of a consignment, I pay out twice a year on what I’ve sold.
I hire a very part time assistant to photograph, measure, and list and draft. I have templates built for each product type. Even my used, previously owned condition is spelled out. They just add flaws to the end. I pay per hour souring training I may give up $2 per item. I gladly give up profit to free my time to source or play with kids amd grandkids. My ASP is $55 to $85 . I can source for better items because I have the time. Hard to explain but it works.
With respect to research, now that I spend more time at buy sell trade stores, I am encountering a lot of new brands and seeing what is most expensive and learning that way.
Love you and your podcast! Wishing you the best of luck in your new business model!! Would you ever considering buying bulk inventory from places like thredup to save time searching the bins?? I was considering trying that but not sure if it’s too risky!! Also, yes please to bringing back Mogi boxes!! ❤
Poshmark in general has just been so slow the last few months but I still made sales with the new fee structure, I think it was the shipping. eBay is double in sales now for me compared to Posh. It is interesting that since they went back to their old fee structure I have only had two sales on Poshmark in a week 😅… Heck even Mercari is doing better than Poshmark right now lol
I've noticed too that Poshmark hasn't really recovered since they made the change and then went back. Ebay has really picked up or me lately.
Your videos are so good and I really appreciate you sharing your knowledge 👍
Yes search needs help!!
great plan! :)
Have you considered NOT accepting returns? Or do you feel accepting returns helps your sales? Since Posh doesn't accept returns and people still shop there I think it's fine. And buyers know they are can return on ebay if INAD. I do not accept returns. I dont want the hassle or mental anguish.
I can see it working theoretically. I couldn’t pull this off in Canada 😢
You guys have so many more people and have a way cheaper COG. And it sells for more as opposed to us where it costs more and sells for less.
I’m interested in both the Mogi Boxes and the newsletter.Please avoid smaller sizes if possible.I can’t seem to give it away lol.
I’m surprised you were shocked they went back. Changing things back and forth is just what Poshmark does. I said it would happen a week into the fees change.
I would like to make my own website or use my TH-cam channel for affiliate marketing. The problem is with your own website is the traffic. Poshmatk gives you lots of traffic. If you have a passion let’s say motherhood right now you can promote your closet through motherhood topics samples etc and making videos about your day as mom, etc. for me my passion is my faith spirituality awakening journey growing as a woman, overcoming family problems abuse etc I would like to talk about this. I’m also interested in a women’s circle doing craft nights sewing etc, so using posh as a hub for advertising products etc not sure yet…
This is the problem run out of money waiting on these higher ends items to sell :( plus finding enough to list weekly
I have had only one sale since Posh switched back. I have had multiple sales on Mercari, DePop, and Ebay. I think Posh shot themselves in the foot.
How do we get on your newsletter list?
Love this podcast. Would you consider working with a wholesaler who can source for you? I source for resellers and I'm local as well. I can reach out to you through your business email!!
I think its because if you don't do a live show your done!!