Poshmark's revenue in the second quarter was $89.1 million! The number of active buyers reached 8 million!

It is learned that according to foreign media reports, Poshmark, a US second-hand e-commerce platform (the US version of "Idle Fish"), recently announced its financial results for the second quarter of 2022. The report shows that as inflation and the cost of living continue to rise, consumers have begun to turn to the second-hand market, and the company's financial results this quarter showed strong growth.

In the second quarter, Poshmark's net revenue was US$89.1 million, up 9% from US$81.6 million in the same period last year; GMV (gross merchandise volume) was US$483.5 million, up 8% from US$449.6 million in the same period last year.

As consumers began to turn their attention to second-hand items, Poshmark's active buyers reached a record 8 million in the second quarter, up 14% from 7 million in the same period last year. In addition, in the 12 months ending June 30, 2022, user engagement on the Poshmark platform increased 70% year-on-year to a record 57.5 billion social interactions.

Poshmark founder and CEO Manish Chandra said that despite the decline in consumer demand in the U.S., Poshmark still reported a strong quarter. In the future, Poshmark will continue to focus on product innovation, provide sellers with better ways to market and promote their products, and provide buyers with new ways to buy, so that more sellers and buyers can participate in the Poshmark online market.

It is learned that on the second day after the release of the Q2 quarterly financial report, Poshmark released an update on its product features for August. Through this update, the Poshmark application provides the following 4 new features:

• QR code scanning
• Match the buyer's final offer
• Select all features
• Rotate photos on your phone

Editor ✎ Nicole/

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