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When it comes to social e-commerce platforms, Poshmark is one of the most popular options for users to buy and sell new as well as previously owned goods. However, there are a great many other apps comparable to Poshmark that can be found on the market today.
Let’s explore each of these apps in more detail!
Mercari is the largest online marketplace in Japan. It started in 2013 and has over 22 million monthly active users worldwide. The app has more than 10 billion monthly transactions. The app facilitates ease of business by providing users with a platform to sell and buy. The users can create an online store and list the products of any category. 1 billion+ product are listed on the platform.
The primary source of revenue of this company is a 10% commission on the selling price from the seller. The company expanded rapidly during the lockdown days and its annual revenue has crossed $1 billion.
Founded in 1995, it is one of the oldest online marketplaces. The company provides both B2C and C2C services. The company was launched as AuctionWeb and is a notable success of the dot com bubble. All types of goods can be sold on the platform. The company has operations in 32 countries and owns a wide user base of 135 million.
eBay’s source of revenue is transaction fees and marketing fees from consumers. The company also earns interest from its invested companies like PayPal, Skype, etc. In 2021, eBay generated a massive revenue, surpassing $10 billion.
Founded in 2011, the company has a unique business model that provides a platform to trade consignment goods. These are luxury items like fine jewelry, clothing, art pieces, watches, etc belonging to a third party. TheRealReal acts as a consignor or an agent who manages the goods of the third party until they are sold. After the sale, the owner gets a portion of the money made from the sale.
The company is only limited to the USA where it operates in 18 cities. The company’s main source of earnings is the consignor fee it charges from the third party for making the sale possible. In 2021, the company generated revenue of more than $468 million.
An online P2P marketplace for women’s fashion. All products belonging to luxurious brands are available on the platform. Users can also sell their products. According to the company’s CEO, Tradesy does not own any products, rather it connects the buyers and the sellers directly. Tradesy enables sellers to earn more and buyers to pay less.
The company started in 2011 and has limited its operation to the USA. The company’s main source of income is the fee charged on sales i.e. $7.5 when sales <$15 and nearly 20% of the total on higher amounts. It generated over $20 million in revenue in 2021.
A special feature of the Instagram app that allows businesses to promote their for-sale products on their Instagram profiles. This feature is not available in some major regions like India and China (Instagram is blocked here). For a user to promote their business on Instagram, prior approval is required. Once approved the user can list their product catalogs as a post on Instagram.
This is a distinct feature of the app that does not validate direct sales on the app but redirects interested users to the business’s website. The service is completely free to use and Instagram does not earn any money from it directly.
Unlike others, Etsy is focused on selling creative goods like handmade, vintage, and craft items. The basket of such items includes jewelry, bags, clothes, home décor, toys, paintings, etc. There are more than 120 million products listed on the platform. The company provides both buying and selling opportunities. Most of the goods on Etsy have an artistic value and are sold by talented craftsmen.
The company was started in 2005 and operates in 200+ countries. The company earns through the listing fee it charges on every product, service fees, and third-party payment processor fees. In 2021, the company generated more than $2 billion in revenue.
A business focused on Recommerce, having a stronghold on the American and European markets. Vinted like other online resale marketplaces, offers a platform for users to sell or buy clothes, shoes, and other apparel. The items can be new or secondhand but as the name suggests, the primary focus is on vintage clothes.
The company was set up in 2008 in Lithuania and serves more than 16 nations today. The company’s primary revenue generation is from its paid buyer protection service. This fee is for the customer support, insurance, shipping cost, etc. the company provides. In 2021, the company recorded a 63% jump in its revenue which stood nearly at $263 million.
A Resale-as-a-Service (RAAS) platform, the company aims at dominating the fashion goods resale industry. The company is one of the largest platforms for providing secondhand apparel, especially for women and children. ThredUP is a competitor of the famous brand TheRealReal in the consignment business and provides its users with profitable deals on its platform.
The company was started in 2009 in Massachusetts and has its business in the USA and Canada. ThredUP makes its money via commissions on products that depend on the listing price. The company’s revenue in 2021 was $250 million with a 35% growth from the past year’s figures.
Depop is a P2P social e-commerce platform. It has an innovative operating methodology that enables users to list the products to be sold as posts on their profiles. Its user interface feels quite similar to that of Instagram and the app is popular for fostering used, vintage, and repurposed clothes. Users promote their Depop profiles on their social media accounts inviting rapid sales.
The company was set up in 2011 in Italy and has its roots in New Zealand, Australia, the USA, and the UK. In 2021, the company recorded annual revenue of $300 million.
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Grailed is an online fashion store for good luxury clothing in the men’s and women’s categories. The platform also provides a resale feature for users to sell pre-loved apparel at reasonable prices. Grailed was founded in 2013 in New York and had a global presence. It promotes both overseas selling and shipping. The company has 10 million+ users and 4 million+ products on its website.
The company’s revenue comes from direct sales, marketplace commissions, and service fees. In 2021, the annual revenue was $43.8 million.
With its operations in more than 59 countries and offices in megacities like Paris, New York, London, etc. Vestiaire Collective is the largest brand globally, for selling pre-owned fashion items. The most luxurious brands of clothes are available on Vestiaire Collective’s marketplace. Buyers and sellers can both find the best deals on the best-in-class fashion products.
The company was started in 2009 in Paris and generates annual revenue of more than $250 million. The company is also the owner of the popular US-based marketplace Tradesy which it acquired in 2022.
A unit of Grailed, the renowned men’s fashion brand, launched in 2017 for women’s clothes. The rising popularity of Grailed encouraged the management to launch a dedicated fashion store for women. It had a vast collection of luxury designer items similar to the men’s luxury closet Grailed.
Unfortunately, after four years of its launch, Grailed realized that surprisingly, the parent website was more loved by women customers instead of Heroine. Hence, due to less customer visibility, Grailed had to shut down Heroine’s operations in 2021.
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The name is an acronym for As Seen On Screen and the brand tries to abide by the statement as well. The company’s clothes are inspired by the eye-catching, flashy, and lustrous designer apparel of our favorite on-screen characters.
As per reports, the company sells products like copies of Brad Pitt’s jacket from the 1999 film Fight Club. Given the concept the company has adopted, its target audience is mostly young enthusiastic teenagers.
ASOS was founded in 2000 and has operations in Italy, France, Germany, Spain, the USA, the UK, and a few more countries. The company earned nearly $5 billion in 2021. The company has been minting money through the trade of clothes bought from wholesalers and sold to users at a margin.
The Curtsy app is establishing new trends in the market for innovative business techniques. The app is available on both Google Play Store and the Apple App Store. The app promotes the resale of female garments with an urge to replace their old clothes for a good profit.
It has a clean-your-closet notion that places a user’s purchased items into his closet. When required, the user can sell those clothes on the app and clean the closet.
The company was launched in 2015 and is available mainly in the USA. Being a new-age company, Curtsy is still strengthening its position in the market. The company’s annual revenue in 2021 was nearly $5 million.
Bonanza is a go-to destination for entrepreneurs within the e-commerce space. The company focuses on eradicating the technical hurdles faced by an entrepreneur in setting up an online marketplace. The company provides an alternative to big e-commerce platforms like Amazon, eBay, and Etsy. It’s a B2B company offering wholesome services to new entrepreneurs.
Bonanza was started in 2007 and has a presence in 50+ countries worldwide. There are 10 million+ products listed on its marketplace. The annual revenue stands at around $200 million which comes majorly from its product sales.
CNBC recommends that the following websites are the most worthy for the resale of respective products:
eBay: For electronics and specialized goods
Depop: For apparel
Mercari: For household goods
Etsy: For handmade goods
Vestiaire Collective and ThredUP are other popular brands for consignment selling and thrifting. These resale stores provide huge opportunities for people to earn extra cash on their used clothing and goods for other purposes. With their enormous user base and innovative services, they provide users the comfort to leverage their used belongings with no extra effort.
Out of all the popular resale platforms, Grailed is the best in terms of commission charges. According to Grailed, a 9% commission is deducted from the selling price of every item on Grailed. There are no listing charges for the seller. Following Grailed, are other resale websites like Depop and Vestiaire Collective that charge the sellers a 10% commission fee.
Facebook Marketplace is the only platform out of the many, that does not charge any commission on the listing and sale of a product, however, a shipping fee does exist.
The Facebook Marketplace has both web and mobile app versions and is completely open and not resale-focused. It is the most advantageous platform for selling any product due to the number of users it has and the simplicity of operation.
Any user having a Facebook account can become a seller and earn decently on the Facebook Marketplace. Even the shipping in most cases can be waived off due to the purchase being in the same region as that of the seller.