💰 Seller fees reduced significantly
Poshmark announced a major change in its fee structure on October 3, 2024. The previous seller fee of 20% has been lowered to 5.99%. Along with this, sellers will pay a fixed fee of $1, $2, or $3 based on the total order size. Orders below $15 have a $1 fee, orders between $15 and $50 have a $2 fee, and orders over $50 have a $3 fee. This is expected to help sellers maximize their earnings per sale.
📦 Buyer protection aligned with fees
In addition to changes for sellers, Poshmark is introducing a buyer protection fee that matches the seller fee structure. This means that buyers will also pay 5.99% of the total cost plus a $1, $2, or $3 fixed fee based on the order value. These fees provide protection services such as Posh Authenticate, Posh Protect, 24/7 customer support, and continuous platform improvements.
🔍 Transparent and fair pricing
The goal of the new structure is to offer complete transparency for both sellers and buyers. Poshmark believes that this will create a more fair marketplace where all costs are clear upfront. The company states that there will be no hidden or surprise fees once an item is sold. This new pricing structure benefits both parties and enhances trust in the platform.
🚀 Positive impact for the community
Poshmark is thrilled with this update and believes that it will help the community thrive. A company spokesperson said, "These changes are designed to empower sellers to keep more of their earnings while maintaining our strong buyer protections." The updated fees also ensure that both sides of the transaction experience a smooth, transparent, and fair process, ensuring long-term growth for the platform.
Will Poshmark’s fee update attract more sellers?
