Dive Brief:
- After creating the holiday last year, Poshmark is hosting Secondhand Sunday on Nov. 26 to encourage users to shop pre-owned for the holidays, according to a company press release. This year, the resale marketplace is pushing a lineup of live shopping events.
- Poshmark will partner with ShopGoodwill.com to showcase its e-commerce auction platform and demonstrate through a series of 30 Posh Shows how to upcycle one-of-a-kind items from Goodwill to sell live. Poshmark will donate 10% of net proceeds from each show back to Goodwill.
- To encourage Poshmark sellers to list trending items for holiday shoppers, the company is hosting a $50,000 listing challenge. Five sellers who list a new item on Poshmark between now and Sunday are eligible to win $10,000.
Dive Insight:
Poshmark is utilizing its live shopping feature and its popularity during the peak holiday shopping season to support secondhand gift-giving and its sellers. Last month shoppers spent over 70 million minutes watching Posh Shows, according to the release.
“When we introduced Secondhand Sunday last year, our goal was to not just create a moment, but a movement encouraging people to think differently about shopping secondhand during the holidays," Poshmark CEO and founder Manish Chandra said in a statement. "More people than ever turned to secondhand gifting, and this year, we are combining the impact of shopping secondhand with the magic and human connection of shopping live, creating an entirely new Secondhand Sunday experience for our community.”
On Thursday, Poshmark is hosting a Posh Show with its trend and live shopping experts. Unveiling the retailer’s guide to secondhand holiday shopping, the show allows shoppers to bid on items auctioned at low starting prices. All proceeds from the show will go to Veritree, a platform that partners with businesses in planting trees, to fund restoration projects further contributing to environmental sustainability.
For Secondhand Sunday, live shopping events will be held all day highlighting popular gifting categories from the platform. For every purchase made during a Posh Show on Nov. 26, Poshmark will contribute an additional $1 to its partnership with Veritree.
Throughout the shopping events for Secondhand Sunday, Poshmark will reference findings from its 2023 Holiday Trend Report. Poshmark expects anywhere from 10.3% to 12.8% growth in projected total holiday e-commerce sales for the 2023-2024 holiday season. For 2022-2023, 56% of shoppers bought secondhand when gifting to family and friends, according to the report.
