Manish Chandra is the founder and CEO of Poshmark, an online marketplace with more than 7 million users in Canada. He sat down with The Peak to talk about the future of resale.
Is there a misconception about your industry that you’d be eager to correct?
That resale platforms like Poshmark have limited inventory or only offer low-quality products. We have a diverse range of inventory, from everyday essentials to luxury items like Chanel.
What assurances are offered when it comes to higher-priced items?
Our guarantee for buyers is that if a product doesn’t match what was promised — whether it’s defective or inauthentic — they can return it and get a full refund. We also authenticate items above a certain value at our authentication centres before they are shipped to the buyer, and we have online verification measures to ensure listings are high quality.
What is the growth potential of the resale market?
Think of it this way: Every person has a closet full of clothes, many of which they don’t wear. The inventory sitting in closets across households globally is worth hundreds of billions of dollars. Even circulating just 5% to 10% of that represents a huge economic opportunity.
What are the main barriers to selling and buying items online?
That it’s difficult or time-consuming, but that’s changing with technology. For instance, our new AI-powered Posh Lens feature allows users to take a picture of an item and find the best matches on Poshmark. AI also assists sellers by automatically generating product descriptions, saving time and effort.
What products or categories are trending on Poshmark right now?
The "fisherman core" trend is causing sales for jean jackets to rise 35% month over month, meanwhile boat shoes are up 22% and overalls are up 43%."Edgy bohemian" is also on trend, which is spurring demand for things like boot-cut jeans and studded belts.
Are there timeless products that consistently sell well?
Lululemon, particularly their athleisure wear, is always in high demand. Aritzia is another favourite in Canada, and luxury brands perform well. Some specific items are Ugg Tasman slippers, North Face Nuptse puffers, Louis Vuitton Neverfull totes, and David Yurman bracelets.
What’s the best thing you’ve bought on Poshmark?
A Bulgari watch. I’m also a big fan of shoes, but it’s hard to pick a favourite.
What’s an emerging trend in resale that readers should know about?
Live shopping is a major trend. Our live shows are directly in the Poshmark app and allow sellers to pitch products in real-time, and our share shows enable collaborative selling, where multiple sellers can showcase products in a single event.
Are there people who have turned selling on Poshmark into a full-time career?
Many people. Some have paid off student loans, bought homes, or achieved other major life milestones. Live selling has further accelerated their success.
Is there a book you’ve read recently that you’d recommend?
I keep coming back to The Alchemist by Paulo Coelho. I'm carrying three in my backpack right now. When I meet someone, I just write them a little note and give it to them. The book just had so much of life’s wisdom in it.
Any final thoughts for readers?
Resale is an exciting space with endless possibilities. If you haven’t tried it yet, give it a go — whether as a buyer, seller, or both. There’s something for everyone.