Dive Brief:
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In a move that blends social media and shopping together, Snap has partnered with Poshmark to create a new social shopping experience in the Snapchat app, dubbed Poshmark Mini.
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With Poshmark Mini, users can browse curated products, attend virtual shopping events (Posh Parties) and shop top-selling brands without leaving Snapchat, the company announced via email on Thursday. Users can also invite their friends to Posh Parties and share specific listings on the app.
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This newest feature will be available in the U.S. in the next few weeks, per the announcement.
Dive Insight:
Snapchat has had its sights set on shopping through the app as far back as 2016. The collaboration with Poshmark is another example of those plans coming to fruition.
Given Snapchat's popularity among users aged 13 to 24, Poshmark is hoping the Poshmark Mini collaboration will introduce the resale platform to Gen Z consumers. Poshmark also noted that its users engaged in 30 billion social interactions, meaning browsing, shopping, buying, selling and connecting with other users, in 2020 alone.
"This partnership is a natural extension of our founding mission to put people at the heart of commerce and allows us to create more engaging, dynamic, and personalized shopping experiences everywhere consumers are," Steven Tristan Young, Poshmark's chief marketing officer, said in a statement.
Poshmark and Snapchat previously partnered to create Snap Kit in 2018, which let Poshmark users share and sell their listings on Snapchat.
Aside from its collaboration with Snapchat, Poshmark has added new features, expanded its product categories and raised capital. In January, Poshmark kicked off its IPO at $42 per share, but the stock spiked to $101.50 by market close. The platform has also rolled out a listing video feature and begun offering home and pet products on its platform.
Meanwhile, Snapchat has been investing in new features and collaborations as it ventures further into social commerce. In 2020, the company began streaming its first shoppable show featuring streetwear collaborations with celebrities and designers.
