Episode Details

In this episode of Business Brain, we explore the evolving landscape of online selling, focusing on the recent changes to Poshmark’s fee structure. I share my experiences from building a successful handbag business on the platform, discussing how the new tiered fees—which can drop sellers’ earnings to as low as 5.9%—may impact buyer behavior and seller strategies. We analyze the potential consequences of introducing buyer fees and how this shift aims to attract high-ticket sellers while navigating current market trends. Additionally, I address the need for businesses to adapt to changes quickly, especially with the important Q4 season approaching. We conclude by considering dynamic pricing strategies and encourage listeners to share their experiences with the new fee structure and how they plan to adjust their selling practices.

• 00:00:00 Business Brain – The Entrepreneurs’ Podcast #588 for Wednesday, October 9th, 2024
• 00:01:00 October 9th: International Beer & Pizza Day
  • Cafe Dell’Arte Chicken Parm Pepperoni Pizza
• 00:02:04 “We’re In Your Neighborhood”
  • CBDfx.com
• 00:06:50 SPONSOR: Notion combines project management with your docs, knowledge base, and AI. You can try it for free today at Notion.com/businessbrain.
• 00:08:38 Just One More
  • Poshmark’s fee changes (used to be 20%, now 6% plus additional)
  • Fees calculated post-shipping and tax
  • Shannon’s Poshmark Fees Post
  • Reddit analysis of Poshmark’s new fees