By Hilary Milnes.
The second-hand apparel market’s online renaissance was closely followed by a shake out. In a boom, companies like Tradesy, Threadflip, ThredUp and The RealReal popped up to provide a digital space for people to sell clothing from their closets. Just as quickly, weaker players buckled under pressure from the competition and shuttered.
The problem: There’s a finite amount of stuff living in people’s closets and simply not enough inventory to supplement multiple major sites.
Poshmark, however, came up with a business proposition that let it skirt the same limitations competitors faced. Rather than positioning itself as a reseller site, it took its mobile-only interface and peer-to-peer marketplace and pitched a “social selling community.”
Read more at Glossy.