Some people are calling it “re-retail,” but whatever name it goes by, buying and selling secondhand online directly between individuals is big business. And now, it’s coming to the home furnishings sector.
Leading the charge is an online operation called Poshmark. Launched in 2011 as a resale service, it has exploded into the market leader in this business, becoming a social media shopping platform, too.
Other players are going after the same business, from 1st dibs on the high-end luxury and design side to traditional selling sites like eBay, Craigslist and even Amazon. What separates Poshmark is its social slant, which includes a news feed and all the other trappings of Facebook, Instagram and their brethren. (And proving that everything comes full circle, social sites like Instagram now have their own e-commerce components.)
Poshmark is simple to navigate: Users upload products and then sell them directly to buyers, using a flat-rate shipping label generated by Poshmark, which – naturally – takes a small cut of the sale price.
Right now, the Poshmark Home Market is focused primarily on home décor products, and lighting and lamps are not allowed to be offered. But accent pieces like picture frames, clocks, mirrors and wall art are, so it stands to reason that portable lighting will be included at some point.
In the meantime, it’s opening up a whole new channel, one that traditional retailers are no doubt dabbling in. If you’re looking for a new way to reach new customers, this could be of great interest.