Make extra cash on used fashion with peer-to-peer app

Peer-to-peer fashion app launches in Canada How would you like to clean out your closet, make a bit of extra cash, and refresh your wardrobe without breaking the bank?

A Vancouver woman has discovered a way to part with some of her gently used clothes and make money doing it, too.

Jessica Luxe has a taste for fashion and wanted to find a new home for some items she wanted to recycle. So she signed up with Poshmark, an app for those who are passionate about fashion.

“I’ve been on the app for two months and I’ve made $1,500,” said Luxe.

Users create a virtual closet where they can upload photos with a description and price. They can connect in social circles with others who share their taste and style. It covers everything from Zara to Versace.

“It’s almost too easy to use, 'cause you find one product that you like and then you go into their closet and it turns out they have really great style and you end up adding multiple things to your bundle,” said Luxe.

Poshmark provides free shipping labels for sellers. Buyers pay the shipping - a flat fee of $12.99 for expedited shipping with Canada Post, for parcels weighing up to 2.5 kilograms.

“So when someone buys something they can expect the package to arrive at their home between one to seven business days,” said Maria Morales, of Poshmark Canada.

Luxe likes the convenience and says it’s better than selling on other websites like Craigslist.

“It makes selling online really easy. I’m no longer getting ghosted when I sell things and go to meet up with people so that’s been a really great feature.”

And she feels safer selling now too because all she has to do it print out the shipping label and drop the parcel off at the post office.

Poshmark handles the transaction and doesn’t release the buyer’s money until the product is received and they are satisfied.

Sellers can keep their money in a Poshmark account to use for purchases or transfer it to their own bank account.

Poshmark launched in the U.S. eight years and ago and arrived in Canada this past spring.

“Canada was welcoming us. It’s doing really well. In the U.S. we have over 50 million people. In Canada we’re quickly growing as well,” said  Morales.

There are other peer-to-peer apps selling used merchandise like Depop and Letgo, which cover a wide range of merchandise. Depot charges a 10 per cent fee on the total transaction amount while Letgo is free to use. Poshmark charges 20 per cent on transactions over $20 but is dedicated to Fashion.

You can download the app from the app store on Apple or Google Play or sign up online.