Social Commerce platform, Poshmark recently conducted a survey of their consumers and found that 58% of consumers are comfortable buying via social media channels – rather than logging into the company’s website while 75% prefer buying directly from the relevant person.
Poshmark survey took into account responses from over 8,000 consumers – out of which 6,500 were Poshmark users. They also relied on their own internal data, purchase patterns of their users, and sales to analyze the trends of social commerce and resale.
According to the report, 38% of Poshmark consumers and 14% of non-Poshmark users prefer secondhand clothing. Non-Poshmark users are also accustomed to buying clothing items from department stores like Target and Walmart.
The report also saw that consumers are highly influenced by ‘recommendations.’ In fact, 57% of the consumers discover new brands via references while 41% through influencers. The researchers also observed that 33% of consumers give preference to brands they find through various marketing techniques on social media channels.
The study by Poshmark was primarily focused on the buying behaviors of Poshmark users. However, it does provide insight to the overall resale market as well. A report by ThredUp in 2019 had estimated that the resale market will reach $51 billion within 5 years and the recent report by Poshmark shines the light on the same trend.
Retailers have also started to see the importance of the resale market and are taking an active part in its growth. For example, Macy’s and Gap have partnered with resale platform ThredUp to showcase their used goods while Nordstrom and Patagonia are creating their own shops for the same purpose.
Read next: New Trends Reveal that Brands have Finally Understood how to Effectively Utilize Social Media!
Poshmark survey took into account responses from over 8,000 consumers – out of which 6,500 were Poshmark users. They also relied on their own internal data, purchase patterns of their users, and sales to analyze the trends of social commerce and resale.
According to the report, 38% of Poshmark consumers and 14% of non-Poshmark users prefer secondhand clothing. Non-Poshmark users are also accustomed to buying clothing items from department stores like Target and Walmart.
The report also saw that consumers are highly influenced by ‘recommendations.’ In fact, 57% of the consumers discover new brands via references while 41% through influencers. The researchers also observed that 33% of consumers give preference to brands they find through various marketing techniques on social media channels.
The study by Poshmark was primarily focused on the buying behaviors of Poshmark users. However, it does provide insight to the overall resale market as well. A report by ThredUp in 2019 had estimated that the resale market will reach $51 billion within 5 years and the recent report by Poshmark shines the light on the same trend.
Retailers have also started to see the importance of the resale market and are taking an active part in its growth. For example, Macy’s and Gap have partnered with resale platform ThredUp to showcase their used goods while Nordstrom and Patagonia are creating their own shops for the same purpose.
Read next: New Trends Reveal that Brands have Finally Understood how to Effectively Utilize Social Media!
