Welcome back to Mimosas & Marionettes!
I hope you liked my previous Poshmark post and that you found it helpful! This post is all about the wholesale portal and how you can use it to your advantage to grow your business and make extra money from home using the Poshmark App.
To read my previous post “Poshmark, The App That is Paying My Rent” CLICK HERE!
If you’ve never accessed the wholesale portal on Poshmark then you are missing out! The wholesale portal can be located right on the app. If you are using an Apple iPhone, you can find it by selecting the ID Profile image on the lower right corner of the Poshmark app and scrolling down until you find the MY SELLER TOOLS button.
It will take you to a different screen and the very last button on that screen is SHOP WHOLESALE.
Never purchased anything in the wholesale portal but were curious as to what was available? My previous experience could maybe give you some insight on how to go about making your most logical first purchase.
I start by asking myself these questions before making a wholesale purchase:
- Is my audience going to like this product? Does this certain accessory or clothing item appeal to my following?
- Is it affordable?
- Can I make money having this product in my closet?
- Is this product going to attract a different market of buyers to my closet?
- How can I style this piece with inventory that I already own to help me sell it faster?
- If this item isn’t successful and doesn’t sell quickly, do I have room to store it? and will I have the patience to not lose money by selling the item for less than what I bought it for just to get rid of it?
- Is this product made from quality material or is it cheap and easy to find on other sites?
- If others are selling this item on Poshmark, how do I make the same item stand out in my closet to attract customers to buy the item from me?
- Can I purchase more of this product if it sells quickly? Or it is one of a kind?
- Are my margins large enough to add this product to my inventory?
After applying & analyzing the questions listed above I take the time to do a unit breakdown of how much each piece is going to cost me vs. how much I am going to make selling each item. This allows me to take into consideration my total net profit vs. my investment.
When the portal first opened on Poshmark all the $50 and under items were being purchased rapidly and soon listings under those brand names were starting to get oversaturated. Multiple sellers on Poshmark were taking advantage of the cheap inventory and started purchasing multiple items to feature in their closets. I jumped on the bandwagon and gave it a try.
My very first wholesale purchases on the portal were made in March of 2016! I bought from two different wholesalers on Poshmark, Farah Jewelry & Three Birds Nest.
When browsing the portal I found lots of items I had seen before on other websites and also lots of items that were made in China that were very over priced.
One wholesaler that jumped out at me with awesome products was Farah Jewelry. I purchased a pair of Gold Leaf Earrings from her wholesale closet for no more than $20. I only have one pair left now so I will link it HERE. It came in a pack of 5 I believe and arrived very well packaged with a small thank you note! I was very impressed with the quality of this product and left awesome feedback for Farah Jewelry. The earrings were very well crafted and didn’t look cheap or like they could break easily. I loved their dainty style and thought they would be a great fit for my audience.
They were instantly a hit in my closet even though multiple sellers had them listed. I kept a pair and still wear them today. They get complimented almost everywhere I go. This wholesaler has lots of products to choose from but the gold leaf earrings I purchased were so beautiful and I was absolutely satisfied. I have not received any negative feedback from any buyers on this product!
The second wholesaler I purchased product from was Three Birds Nest. You can find them on their own website here or on Poshmark here. The items they have listed are absoulutley beautiful in the stock photos they display in their closet! I fell in love with an adorable lace daisy-chained headband and after doing the math I figured why not? When I opened my package I was expecting a good quality product but what I got instead was a total shock!
The headbands did not look durable or as if they were made from high quality materials. They looked a little sad and not as vibrant and earthy as they did in the stock photo. So, unfortunately I could not make a profit on this item as I thought it would be unreasonable to sell something so cheaply made to my loyal costumers. I priced them to sell and I noted a very detailed description of the item. They sold fast and I managed to come out even, but I did receive a message from a buyer saying that she had only worn it twice before the elastic gave out on her. I offered to give her a discount on her next purchase for the trouble. I was not satisfied with the product because in the stock photos the items looked very different than what I received. I guess you get what you pay for and since they were only $16, I knew I was taking a risk. I have not purchased from Three Birds Nest again. I am sure lots of people have had success with this brand and maybe it was my product choice that left a terrible impression on me. Either way I don’t see myself making a purchase from them in the future.
Overall I gathered that buying on the wholesale portal is very tricky! You must do your research on each product you purchase as well as the brand you are buying it from. A simple Google search can get you so far!
Poshmark has made the wholesale portal a very interesting part of thier business. They advertise the brands in the portal to help them grow and sell which in my opinion helps you as a seller out too! They have parties dedicated to the brands in the portal and over all most of them are fairly recognizable in the app. Use that to your advantage and share the items you purchase to get the most exposure! Healthy competition never hurt anyone, be prepared to compete against others but don’t be afraid! There is a way to use these things to grow your business and your following. I encourage you to stay tuned for a post about how I made my items stand out from other sellers with the same items! If this seems interesting to you at all please follow me for updates as I continue this Poshmark series.
I hope this post was helpful to you. I got my toes wet with these two wholesale portal purchases and wish you the best of luck when buying wholesale to supply your fabulous closets! I’d love to hear from you, so comment below with your experiences with the wholesale portal!!