I wonder if some of the lowball offer buyers have changed their mindset and be more mindful when making an offer since they experienced fees. I agree with you on the higher priced items, I made a few and was thrilled with less fees ❤
I just went to buy a red sweater and they offered 20 bucks. Between paying almost 8 bucks for shipping, and another 7 something between tax and “buyer protection” I would have paid and extra 15 plus the base price of the sweater. I just decided I’ll keep looking for the same thing at the thrift stores. I’m a seller as well, and this is probably why my sales have dipped
How is tax and buyer protection coming out to $7? The fee on a $20 purchase is less than $4 and your tax would probably be under $2, so I guess that could be close to $7 - but only the $4 is what's different between the old and new fee structures.
I just don't know what kind of decision a company can make in just 21 days. I feel like they would've needed more data to truly understand the implications of their actions and let the dust settle a bit and see what the new normal does. They are $1 billion company so 21 days of slower sales I feel like shouldn't warrant such a knee jerk reaction to reverse it. I know on Reddit they are cheering that their voices were heard and that they forced the change, but I suspect that's probably not really the case either. I did read somewhere that some states passed a "frivolous fee " law and some lawyers pointed it out to them. That might be the case. If you notice on Mercari when you look at a listing, not your own, the price you see includes estimated fees.… That might be a result of the transparency required of the new law in states. It is interesting that they are offering that little refund to the sellers next week. I think Mercari did that with the withdrawal fee as well. I'm just really shocked that they went all the way back. Mercari and Depop both stuck to their decisions to charge the buyers a fee.
My sales were less, but still had some nonetheless. I had 3 people send me offers and then immediately canceled them. I’m wondering if they saw all of the fees and decided against purchasing.
I'm a buyer and a seller. Actually told sellers of some gorgeous higher end items i would make offers on the 24th. I've had buyers tell me the same about my items. The fees were ridiculous for me as a buyer & minimally helpful as a seller plus crashing sales means no winners!
I started watching this on closed captions because I had another thing playing out loud and omg you are so all over the place and I love it 😂😂😂 it’s exactly how my brain is too
I would LOVE a tiktok video! I have it for my handcrafted soap and I keep getting messages about selling on there but I have no idea I would have start! I resell on 3 platforms, one is my own website! I am happy that Poshmark is going back to they're regularly scheduled program lol! At least I know the numbers and how to price my items accordingly!
I'm worried they will just try and find another way to get more money. Maybe they will start charging sellers 20% on total sale including taxes and shipping like ebay's fee structure. Although I heard eBay in UK will be charging buyers a fee in 2025. Not sure if this will be implemented at a slower pace over time. But if they aren't making much on promoted listings they will find a way to be charging everyone to make their company more profits. Membership clubs like Costco work's because the customer knows the cost up front and can choose if they want to pay the club membership but also they see the deals they can get. Poshmark is not a Costco.
I think they will eventually just raise their percent they take from sellers. Which probably would have gone over better if they just did that than tried this and then moved to a higher selling fee later.
If they could make promoted listings worth it then I think more people would do it. I promote at eBay’s recommended and that normally makes my fee end up being more than Posh’s 20%, but I’ve seen a significant rise in sales promoting at their recommended rate. I also never do per click, only promote and pay when it’s sold. They keep putting out half developed updates and then throwing a new one on top of it when the previous one fails. They just need one fully baked idea lol.
Oh I was accepted into the TikTok shop but I don’t know if that will take up a ton more work I don’t have a group so it’s just me but I would like to hear more how you started that for sure ❤
I agree about American eagle and aerie lol I find it at the bins and always clear it's been worn and loved but I still pick up the good pieces. I never go to malls anymore! I wish posmark would have left the change I was netting more not a lot but it was nice. While it lasted hahaha
Hi! New to your channel. I watched your video yesterday to understand what the CEO was talking about regarding the rollback based on feedback. I was so bewildered. Lol. This may be an unpopular opinion, but they could have kept the new fee structure for the old selling model, which doesn't include live-selling. Posh structured their current business strategy around live-selling. Buyers who shop live shows were never going to consistently buy on Posh under the new fee structure. If they ever share the live show metrics from this period, they probably saw a significant decrease in sales from live shows, and that might be a top reason to go back to the tried-and-true fee structure after three weeks. 😅 The live-selling (buyer fee increase) should have been a beta test (with top-ranked show sellers). I agree with you on that suggestion. It's sad that ambassadors lost the Posh Pass program, something that has been requested for a long time... idk, all of this might be a test-run for something else they're going to rollout soon... 🤔 Thanks for sharing your thoughts and support! Wishing you continued success with your endeavors. ☺️💝✨️
I am a new reseller and I would love it if you did a video on how to sell on TikTok! My category is mostly shoes and I have a couple of pairs of some fancy looking Nikes that I can’t move on these other platforms so I’m thinking maybe I could get them sold on TikTok
I wrote back and said they should trying being competitive with eBay and lowering seller fees to 15% and of course not charge the buyers any fees other than tax and shipping. Possibly there is a way to lower some operating costs on their end??
I know that there are a ton of buyers that do not resell, but I feel that such a huge portion of the buyers were resellers also, and so they really obviously knew about the fees. The ones that were both resellers and buying as well, I'm sure is what made the most impact into poshmark losing so much money, since the sellers were upset they weren't buying anymore . Mercari rolled out the same thing in a way, but it worked for them, but I feel it was because they have no seller fees whatsoever. I'm not saying Mercari did it right, cause I never made much there to begin with, but in the few sells that I have made there, they were always good ones.
Hi. You mentioned in your last video someone that was in the meeting regarding the fee structure mentioned he was going to stop selling on live shows for the foreseeable future. You didn’t mention whether he told you why. Today in a UA-cam chat someone sarcastically said that pretty soon Poshmark will charge to do live shows. Is that too far fetched to believe?
I think PM made the decision based on Mercari and Depop changing their fee structure to not have seller fees. Its the way they implemented it thats the issue, they didnt even show buyers the full price prior to purchase, you had to know to look at your purchase later - SO shady. Maybe a flat fee wouldve worked but it increased the highee the price, what kind of sense is that? In my experience its the lowballer thqt are more likely to complain and return.
Pm owners will demand answers. Lots of finger pointing and behind the scene deals to keep jobs. Its pretty boring stuff actually. Theyre just missing a few key pieces necessary before rollouts. So obvious. I watched this happen at a really big company i worked at in the early 2000s. In this case the damage couldn't be undone. It was a software charge that didnt include an undo option. I brought my concerns to the guy in charge before the rollout because i could see it. He looked at me like i was invisible. Dumb young girl. He was the first to get fired. Maybe it is kinda interesting. But it is so common in corporate world. People afraid to speak up or arent heard.
Exactly my thoughts. They just need one fully baked idea and actually test it properly before making changes. They just keep putting out partial plans and throwing out a new one when it doesn’t work out. I think whatever they did to the algorithm last year was a similar situation, an update without an undo. Everything’s been a mess since they did that and it just keeps snowballing.
I wonder if some of the lowball offer buyers have changed their mindset and be more mindful when making an offer since they experienced fees. I agree with you on the higher priced items, I made a few and was thrilled with less fees ❤
I just went to buy a red sweater and they offered 20 bucks. Between paying almost 8 bucks for shipping, and another 7 something between tax and “buyer protection” I would have paid and extra 15 plus the base price of the sweater. I just decided I’ll keep looking for the same thing at the thrift stores. I’m a seller as well, and this is probably why my sales have dipped
How is tax and buyer protection coming out to $7? The fee on a $20 purchase is less than $4 and your tax would probably be under $2, so I guess that could be close to $7 - but only the $4 is what's different between the old and new fee structures.
I actually liked the change too...specifically the Posh Pass. I just don't like the chaos of the changes. Back to normal I guess :)
Right. I was just disappointed they did away with Posh Pass
As a buyer the fees sucked! Nothing like paying double for something you buy. They are still charging buyer fees until the 24th
I just don't know what kind of decision a company can make in just 21 days. I feel like they would've needed more data to truly understand the implications of their actions and let the dust settle a bit and see what the new normal does. They are $1 billion company so 21 days of slower sales I feel like shouldn't warrant such a knee jerk reaction to reverse it. I know on Reddit they are cheering that their voices were heard and that they forced the change, but I suspect that's probably not really the case either.
I did read somewhere that some states passed a "frivolous fee " law and some lawyers pointed it out to them. That might be the case. If you notice on Mercari when you look at a listing, not your own, the price you see includes estimated fees.… That might be a result of the transparency required of the new law in states. It is interesting that they are offering that little refund to the sellers next week. I think Mercari did that with the withdrawal fee as well.
I'm just really shocked that they went all the way back. Mercari and Depop both stuck to their decisions to charge the buyers a fee.
Nice and very well written comment
Very well said. This is exactly how I feel.
My sales were less, but still had some nonetheless. I had 3 people send me offers and then immediately canceled them. I’m wondering if they saw all of the fees and decided against purchasing.
That's what I did when I was going to make purchases
Told them I'd ve back on Thursday
I'm a buyer and a seller. Actually told sellers of some gorgeous higher end items i would make offers on the 24th. I've had buyers tell me the same about my items. The fees were ridiculous for me as a buyer & minimally helpful as a seller plus crashing sales means no winners!
I started watching this on closed captions because I had another thing playing out loud and omg you are so all over the place and I love it 😂😂😂 it’s exactly how my brain is too
🤣🤣🤣🫣
I would LOVE a tiktok video! I have it for my handcrafted soap and I keep getting messages about selling on there but I have no idea I would have start!
I resell on 3 platforms, one is my own website! I am happy that Poshmark is going back to they're regularly scheduled program lol! At least I know the numbers and how to price my items accordingly!
I think we should be able to opt in I loved the change
Love your videos. So helpful
I'm worried they will just try and find another way to get more money. Maybe they will start charging sellers 20% on total sale including taxes and shipping like ebay's fee structure. Although I heard eBay in UK will be charging buyers a fee in 2025. Not sure if this will be implemented at a slower pace over time. But if they aren't making much on promoted listings they will find a way to be charging everyone to make their company more profits. Membership clubs like Costco work's because the customer knows the cost up front and can choose if they want to pay the club membership but also they see the deals they can get. Poshmark is not a Costco.
I think they will eventually just raise their percent they take from sellers. Which probably would have gone over better if they just did that than tried this and then moved to a higher selling fee later.
If they could make promoted listings worth it then I think more people would do it. I promote at eBay’s recommended and that normally makes my fee end up being more than Posh’s 20%, but I’ve seen a significant rise in sales promoting at their recommended rate. I also never do per click, only promote and pay when it’s sold. They keep putting out half developed updates and then throwing a new one on top of it when the previous one fails. They just need one fully baked idea lol.
Mercari is charging buyers fees, but they have the worst customer service and really don't care.😂
I hardly get sales there since the change on Mercari.
I honestly think this WAS the research. How else could they reverse so quickly?
I enjoyed this video. Thank you 🩷🎀
It was terrible for buyers. I really wanted to buy but couldn’t justify the extra costs.
Oh I was accepted into the TikTok shop but I don’t know if that will take up a ton more work I don’t have a group so it’s just me but I would like to hear more how you started that for sure ❤
I agree about American eagle and aerie lol I find it at the bins and always clear it's been worn and loved but I still pick up the good pieces. I never go to malls anymore! I wish posmark would have left the change I was netting more not a lot but it was nice. While it lasted hahaha
I would love a TikTok video!!
Hi! New to your channel. I watched your video yesterday to understand what the CEO was talking about regarding the rollback based on feedback. I was so bewildered. Lol. This may be an unpopular opinion, but they could have kept the new fee structure for the old selling model, which doesn't include live-selling. Posh structured their current business strategy around live-selling. Buyers who shop live shows were never going to consistently buy on Posh under the new fee structure. If they ever share the live show metrics from this period, they probably saw a significant decrease in sales from live shows, and that might be a top reason to go back to the tried-and-true fee structure after three weeks. 😅 The live-selling (buyer fee increase) should have been a beta test (with top-ranked show sellers). I agree with you on that suggestion. It's sad that ambassadors lost the Posh Pass program, something that has been requested for a long time... idk, all of this might be a test-run for something else they're going to rollout soon... 🤔
Thanks for sharing your thoughts and support! Wishing you continued success with your endeavors. ☺️💝✨️
I would love a TikTok video.
I am a new reseller and I would love it if you did a video on how to sell on TikTok! My category is mostly shoes and I have a couple of pairs of some fancy looking Nikes that I can’t move on these other platforms so I’m thinking maybe I could get them sold on TikTok
I wholesale my lululemon because I'm tired of looking at it!! You're right it's a quick profit that way!
I only do Poshmark for a hobby but its becoming expensive thou. Lol
Interesting since the change doesn’t happen until til October 24th
I wrote back and said they should trying being competitive with eBay and lowering seller fees to 15% and of course not charge the buyers any fees other than tax and shipping. Possibly there is a way to lower some operating costs on their end??
I would love the see lifestyle, fitness, weight loss content - don't use tiktok unfortunately. Can you cross post on shorts?
I know that there are a ton of buyers that do not resell, but I feel that such a huge portion of the buyers were resellers also, and so they really obviously knew about the fees. The ones that were both resellers and buying as well, I'm sure is what made the most impact into poshmark losing so much money, since the sellers were upset they weren't buying anymore . Mercari rolled out the same thing in a way, but it worked for them, but I feel it was because they have no seller fees whatsoever. I'm not saying Mercari did it right, cause I never made much there to begin with, but in the few sells that I have made there, they were always good ones.
I am not saying that I was ok with the fees change on Posh, just trying to understand why it didn't work them, but for other platforms it has.
Do you guys think they did this on purpose so we will stop complaining about the 20% fee being so high ?
I think so...😅😂
Aerie still has stores.
Hi. You mentioned in your last video someone that was in the meeting regarding the fee structure mentioned he was going to stop selling on live shows for the foreseeable future. You didn’t mention whether he told you why. Today in a UA-cam chat someone sarcastically said that pretty soon Poshmark will charge to do live shows. Is that too far fetched to believe?
I think PM made the decision based on Mercari and Depop changing their fee structure to not have seller fees.
Its the way they implemented it thats the issue, they didnt even show buyers the full price prior to purchase, you had to know to look at your purchase later - SO shady.
Maybe a flat fee wouldve worked but it increased the highee the price, what kind of sense is that? In my experience its the lowballer thqt are more likely to complain and return.
Pm owners will demand answers. Lots of finger pointing and behind the scene deals to keep jobs. Its pretty boring stuff actually. Theyre just missing a few key pieces necessary before rollouts. So obvious. I watched this happen at a really big company i worked at in the early 2000s. In this case the damage couldn't be undone. It was a software charge that didnt include an undo option. I brought my concerns to the guy in charge before the rollout because i could see it. He looked at me like i was invisible. Dumb young girl. He was the first to get fired. Maybe it is kinda interesting. But it is so common in corporate world. People afraid to speak up or arent heard.
Exactly my thoughts. They just need one fully baked idea and actually test it properly before making changes. They just keep putting out partial plans and throwing out a new one when it doesn’t work out. I think whatever they did to the algorithm last year was a similar situation, an update without an undo. Everything’s been a mess since they did that and it just keeps snowballing.
I would like to see your Tik Tok Videos
Sure I’d like to connect on TikTok ❤