Poshmark's Promoted Closet Tool Allows Sellers to Boost All Their Listings at Once | TechCrunch - Latest Global News

Poshmark’s Promoted Closet Tool Allows Sellers to Boost All Their Listings at Once | TechCrunch

Poshmark, the social commerce site where people can buy and sell new and used items to one another, launched a paid marketing tool on Thursday that gives sellers the ability to promote their entire store at once.

Poshmark’s new feature, called Promoted Closet, uses machine learning to automatically promote individual product listings from across a seller’s inventory by identifying shoppers’ search terms and matching them with promoted items.

Promoted Closet works like cost-per-click models on Etsy, Amazon and Google Ads. Sellers can set a weekly budget that they would like to pay and will only be charged when a buyer selects the advertised listing. There is an option to set the budget manually or get a recommendation from Poshmark that takes into account closet size, type of offerings, and value of featured brands to determine demand and competition for those items.

There is also an analytics dashboard where sellers can see the number of impressions, clicks, sales, return on ad spend, cost per click, and click-through rate. The company recently increased the amount of historical data from 30 days to 30 days, so sellers can now see a year’s worth of sold listings data.

According to the company, Poshmark’s new feature has been in beta with tens of thousands of sellers since early 2023 and has helped testers increase sales by 43%. Starting today, it is officially available to all users in the US on both desktop and mobile devices. For a limited time, Poshmark is offering a seven-day free trial.

Poshmark hasn’t said when the feature will launch in Canada, the only other market where the platform is available. (It previously existed in other markets, but the company ceased international operations in October.)

Since being acquired by Naver last year, Poshmark has made several improvements to its resale marketplace. For example, “Posh Shows,” a feature for hosting live auctions, and “Share Shows,” where users collaborate with other sellers to bring their audience together. There’s also Posh Lens, an AI-powered visual search tool that allows shoppers to take a photo of a specific item and find relevant offers.

Poshmark also offers other marketing services, such as Bulk Listing Actions, which allows sellers to list multiple products for sale with one click, and My Shoppers, a data-driven tool that allows sellers to make offers to multiple buyers at once.

“We’re doing a lot more work in both the social and community space as well as the generative AI space,” co-founder and CEO Manish Chandra told TechCrunch. “A lot of the announcements you’ll see from us in the next six to eight months will be tied to this [generative AI.]”

Poshmark has over 130 million users in the US and Canada. Sellers have earned over $7 billion on the platform.

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