This is not a yard sale!
What else can I do to make sales? Is a Live show my only option?
Here's what I have been doing- avoiding going all in on Live shows.
I share and follow several times a day. I list new items all the time. I have offered great sales. I have done many silent shows. I post on Instagram. I write this blog. I make offers regularly. I update offers on likes and bundles. My prices are very reasonable, very. Probably, too reasonable.
This is not a yard sale! I need to make a little profit.
Poshmark takes a $2.95 fee from orders under $15 and 20% on anything over. I have made sales where I make .03! No lie- only 3 cents!
I know a $5 sale with discounted shipping is a great deal for the buyer but I am not making anything on it. Well, 3 cents!
Let's look at some sales I have made.
1. I sold a dress for $10. I feel it was a fair price for a used dress.
10- 2.95 Posh fee - 2.02 shipping discount = 5.03.
2. I sold a top for $15
15- 3.00 Posh fee - 2.02 shipping discount = 9.98
3. I sold a top for $20
20- 4 Posh fee- 2.02 shipping discount= 13.98
4. I sold a boy's coat for $33
33- 6.60 Posh fee - 7.97 free shipping = 18.43 ( an aside- this coat didn't cost me anything. It was a gift my grandson outgrew)
Most of the items I sell have come from my closet, my friends items, or thrift stores.
So, items of my own or from friends, cost me nothing and are total profit. I do share the profit on the friends; items 60/40 because they are gifting them to me and deserve a little something.
Items I get at thrift stores average out to about $3.00 an item. Sometimes, depending on the item, a little more.
Conclusion- I need to sell more items or get a minimum of $10 an item.
Bundles can bring in more money in one sale but how that averages out per item may tell a different story.
Some bundle examples:
1. I sold a bundle of 2 dresses for $22.00.
22- 4.40 Posh fee - 2.02 shipping discount = 15.98
2. I sold a bundle of 3 items: dress, jacket, pants for $55.00
55- 11 Posh fee - 2.02 shipping discount = 41.98
So, on these two bundles, I made about $10 an item. That's not bad.
It seems like some buyers want yard sale prices and do not realize that we sellers pay the Posh fee and the difference in shipping if we offer a discount.
Something I can do to make a little more on my sales is to price the item at least 25% more than what I want to get for the item. Maybe even 50% more.
Maybe I shouldn't have discounted shipping. However, I feel it is a way to make the purchase more attractive.
As a retireee, I do worry about income and am hoping I can keep making lunch and coffee money on Poshmark!
It does keep me busy and helps stop boredom and depression. It gives me hope that my life is not worthless every time I make a purchase from a thrift store and list it for sale!
Want to join Poshmark?
It's easy. I recommend downloading the app and it will lead you through the steps. Be sure to use this code to receive $10 of your first purchase:
LEPROF_74
See something you like in my closet? Comment that you read my blog and I will give you at least 25% off your item or bundle.