While I love living cheaply, I also love my side hustles. I sell thrifted clothes online and blog to make money towards my financial goals. These side hustles have allowed me to learn a lot and I am eager to share my knowledge with you in order to help you reach your financial goals.
I recently posted 24 things to do when your items aren’t selling. I wrote this specifically because I was experiencing a drought in selling recently. I also know many people who sell faces occasionally.
Today, I will be focusing on one of these tips more in-depth. It is selling on multiple platforms.
It is possible that you are already selling on multiple platforms. This is great! Here are some reasons you might want to do it.
Reason #1: Increase sales
Selling on multiple platforms is my number one reason for supporting it. It results in more sales if done properly. Profitable sales equal more sales
Different buyer segments are available on each platform. According to my experience, Poshmark users are predominantly women. Although there are now more men buying items, the vast majority of Poshmark users are women.
eBay has a higher proportion of female and male buyers. Although I was unable to find any exact data supporting my belief, it is very likely that you will come to the same conclusion if you spend enough time on both platforms.
If I believe that an item will be more popular with men, I would list it on eBay. Poshmark may be able to sell your item, but eBay and other sites with many male buyers will likely have more buyers. This is why I list both men’s shoes and clothing on both sites.
Reason #2: Lower seller costs
Selling on multiple platforms is a good idea because different platforms charge different seller fees. A sale made on a platform that charges lower fees will result in more money for you. This is what everyone wants.
Poshmark is my primary platform to sell items. Poshmark is a great place to sell items because it’s easy and fun. It can be time-consuming to list items and share them.
Additionally, PM receives 20% of all sales over $15 and $2.95 on items under $15. Mercari charges 12.9% + $0.30. (Note: eBay fees can vary. They are generally higher than 10%, but lower than 20%.
Only 5% is required for Facebook Marketplace. This difference in fees is noticeable over time.
Comparing the extremes (20% on Poshmark vs 5% on Facebook Marketplace), it means that you get $15 more for each $100 you sell. This is a significant amount, especially for high-volume sellers or high-dollar sellers.
If you are looking to reinvest the money back into your business, you can buy more thrift items.
Sellers must pay a seller fee. This covers the cost of obtaining your items and taxes. This can all reduce your profit.
It makes sense to sell on websites that charge lower fees if you are able to make more sales and keep more earnings.
Reason #3: Bypass restrictions
You can also sell items on multiple platforms to circumvent restrictions.
There are items that each platform will allow you to sell. You can sell your items on several platforms to get around certain restrictions.
Poshmark was not permitted to sell men’s or children’s clothing until 2016. Before 2016, Poshmark was not allowed to sell men’s and children’s items.
You may have children and a husband, so you probably have plenty of clothes to sell. You might be able to find a lot of clothing for children and men while thrift shopping. You could list these items elsewhere instead of trying to avoid buying them and losing out on potential profit.
This is what I did for my children’s and men’s items. They were permitted to be listed on Mercari and eBay. Potential buyers would then search for them.
Selling clothes on Amazon was something I thought about, but I soon realized the obstacles and limitations that I faced. Amazon requires that you fill out an application. It also doesn’t allow for the sale of used items. It was not worth my time to submit an application to sell on Amazon.
Selling on Amazon has one positive: you can create your own private label products. You can purchase generic products and then sell them under your brand.
This is something that you might be interested in, so you could apply to sell on Amazon. Poshmark and eBay could also allow you to sell your brand of products. Amazon has a customer base that is unbeatable, with millions upon millions of customers.
Reason #4: Sellers flood the market
People will flock to any venture once they hear that it is profitable. Online selling of clothing is easy because there’s no barrier to entry.
This is what I’ve experienced while selling on Poshmark. When I first started selling on the platform, Lululemon items sold like hotcakes. Lululemon products can now sit unsold for months. Is that possible?
I believe it’s because there are now a lot more Lululemon items available on PM. Buyers have more choices. Potential buyers have more options. They can choose who and what price they want to pay. They can always move on to the next seller if one seller’s asking price is too high.
This is also true for boutique items on PM. These items are often new and sourced from wholesalers. They do not have branding. They may be sold by sellers who own their brand.
This summer I was looking for a swimsuit that featured a green palm leaf print. This style has become very popular in recent summers.
There were many boutique listings for this swimsuit that I could not count, with different prices. They were listed at such low prices that I wondered if the sellers made any profit.
Reason #5: Overcome being banned
You can have consistent sales through multiple channels, similar to having multiple streams to ensure your financial security.
Many sellers have devoted their entire time and energy to one platform only to find out that they were banned. They lost all the positive feedback they had worked so hard to earn. Sometimes the company even held their money.
You can make hundreds of dollars per day selling on one platform. But if the platform bans you, changes its policy or direction or the site crashes, your sales could drop to zero.