Poshmark enters the Indian market to build an e-commerce community

According to foreign media reports, US- based Poshmark Inc announced on Wednesday the launch of its social commerce marketplace in the Indian market. The Nasdaq-listed company focuses on providing new and second-hand product trading markets for women, men, children, pets and families . Poshmark Inc has a community of more than 80 million registered users in the United States, Canada and Australia .

Anuradha Balasubramanian, general manager of Poshmark India, said in an interview: "India is our first market in Asia and we are excited and looking forward to the future of the Indian market... India is culturally vibrant, and I really believe that what Poshmark brings in terms of social shopping experience and marketplace is a perfect match... Its experience will be very transparent."

Later, Anuradha Balasubramanian added that when sellers sell products priced at Rs 500 and above on the platform, the Poshmark platform will charge sellers a commission on the sales transaction.

In addition, Balasubramanian emphasized that Poshmark will provide exclusive buyer protection and authentication services for Indian community members. Poshmark will also launch PoshPost to provide buyers and sellers with simple and easy-to-use shipping services.

Although Balasubramanian did not disclose the audit goals set for seller onboarding and promoting transactions, she said that the current focus of work is on community building and onboarding sellers with good sales reputation and healthy products.

Poshmark founder and CEO Manish Chandra said India is one of the fastest growing e-commerce markets in the world. "We go through different phases when we enter a geography and the first phase for us right now is to build our community, build that foundation... so we expect as we go forward it will start to really scale and increase and contribute meaningfully to growth and subsequently to profitability of the business over time."

Therefore, Poshmark’s main work plan at present is to "invest, build the community and establish a core community of sellers and shoppers, which will lay a good foundation for growing sales in the next few years." Chandra pointed out that Poshmark has established effective processes to protect buyers and sellers and create a very smooth distributed market.

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