Studies show that Americans are drowning in Stuff — toys, cleaning supplies, clothes, the lists goes on. Regardless of our financial situations, most of us have more things lying around than we really need. At the same time, 44% of Americans struggle to get by each month. So why not put two and two together to de-clutter our lives and earn a bit of extra cash on the side?
Studies show that when Americans are in a bind for cash, only 7% of Americans indicate that they would pawn or sell something. Why the hesitation to get rid of excess stuff in exchange for cash? Dropping an armful of items of at a resale shop can be a chore, and pawn shops traditionally handle larger-ticket items like jewelry and appliances, which not of all of us have lying around.
But one thing many of us do have is an excess of clothing. That blue sweater in the back of your closet? You’re never really going to wear it again, and those jeans that don’t fit aren’t going to magically zip up tomorrow. A number of services are sprouting up across the web to turn that pile of unworn clothes into cash.
While you should always do your own due diligence before selecting a site to sell your stuff, a handful of online clothing resellers are creating their fair share of buzz around the web. Which service is right for your secondhand selling needs? We talked to the teams behind a handful of these companies to get the inside scoop.
Poshmark is a mobile-friendly option for selling women’s clothing online. Simply snap a photo with your iPhone and set the item up for sale. We chatted with Manish Chandra, Poshmark CEO and founder, to get the inside scoop.
Why sell your clothes on Poshmark versus another service?
MC: Poshmark is the leading mobile marketplace with a very active and vibrant community of users always on the hunt to discover something new. We’ve removed all the roadblocks to selling your clothes, making listing an item from your mobile phone seamless, effortless and most importantly, fun. With multiple opportunities to engage with the community and build your audience, many users end up selling an item within hours of listing it.
What are your tips for maximizing profit as a Poshmark seller?
MC: First, create an amazing cover shot for your listing. This will be the first thing that people will see in their feed and decide if they want to check out your closet. Next, be sure to describe your items in detail. Finally, become an active part of the community. The more you put into Poshmark and the more you engage with the community, the more you’ll get out of it.
What types of items sell best on Poshmark?
MC: Two of the most popular categories with the highest sell-through are handbags and shoes, but because we have such a large community of women with varied tastes and styles, we’re seeing all types of fashions selling on Poshmark. This includes everything from new items that still have tags attached to vintage and gently used pieces.
ReFashioner calls itself a curated online consignment store. We chatted with founder Kate Sekules to find out how it works.
Why sell your clothes on ReFashioner versus another service?
KS: ReFashioner is the first marketplace dedicated solely to high-quality vintage, pre-owned luxury clothes, accessories and bags. Any visitor to our site will be specifically searching for these types of goods that have been carefully curated by our team.
What are your tips for maximizing profit as a ReFashioner seller?
KS: Never underestimate the power of your own social networks. Social media is important — don’t forget to link to your closet, tweet and pin your listings, as well as taking quality photographs and descriptions. Taking the effort to write a good story behind your piece is often worth the time — ReFashioner is a community of people who truly care about connecting with clothes.
What types of items sell best on ReFashioner?
KS: Good accessories, especially handbags are probably the top sellers, and good prices on classic or sought-after designers like Hermes, Chanel, Alaia and Celine. We usually don’t accept mall brands or fast fashion, nor pieces in poor shape, and pants tend to be a hard sell.
For more tips on earning extra cash, check out our full YOUconomy series