Why Competitor Poshmark May Be The RealReal And ThredUp’s Best Friend In Exploding Resale Market

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Poshmark

Poshmark claims to be the No. 1 fashion buying and selling platform, with some 50 million sellers. A recent survey by Raymond James supports that claim, with 67% of women surveyed recognizing the Poshmark name, as compared with 44% who know ThredUp and 12% The RealReal.

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The RealReal

Ultimately Poshmark’s heavy-lifting in the awareness department may be a blessing for both ThredUp and The RealReal. After a few times a person does all the work on the back end to make a sale –or not make a sale if the price isn’t right or the description fails – my guess is that people looking to get in on the resale action may quickly turn to the frictionless and more convenient alternative that ThredUp and The RealReal offer.

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thredUp

Note: This article was originally stated that ThredUp donated clothing not suitable for sale to charities. It has been corrected on September 17 @ 4 p.m. to read that a $5 charitable donation option is available and unaccepted clothing is recycled, not donated. ThredUp spokesperson explained, “We have found that charities often do not have the resources or time to sort through and distribute the clothing they receive. In this way we can also turn clothes into cash for incredible organizations that don’t normally take clothing donations.”

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