Poshmark CEO says fashion buying habits changing rapidly in post-pandemic preparation

Poshmark’s chief executive say the fashion market is undergoing “real change” as consumer prepare for the post-pandemic world.

In an interview the CNBC’s Mad Money programme, Manish Chandra said the online resale platform was seeing shoppers rapidly change their buying habits in preparation for the end of lockdowns.

According to Chandra, sales of going out clothing are rising sharply, while fitness apparel was on the decline.

“We certainly are seeing real change in what people are buying,” Chandra said.

“We’re sort of in a way starting to get people ready.

READ MORE: Poshmark doubles share price amid blockbuster IPO

As shoppers prepare for social events and holidays after a year of lockdowns, bikini and jean short sales have doubled on the platform.

Meanwhile, the widespread return to offices has seen sales of work dresses jump more than 30 per cent.

The fashion resale brand, launched in 2011, has around 32 million active users who spend an average of 27 minutes per day on the platform.

Compared to rival platforms like Ebay and Depop, Poshmark takes a fairly significant portion of user sales fees, syphoning 20 per cent of sales fees over $15 and or a flat fee of $2.95 for smaller sales.

Poshmark has been one of the few retail success stories of the pandemic as users stuck at home, many recently made redundant, turned to the platform for an alternative source of income.

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