Where to Source Inventory for Poshmark (Without Wasting Money)

Are you looking to boost your Poshmark sales without breaking the bank on inventory? Finding the right sources for your products is crucial for your success as a seller. Let's explore some smart strategies to source inventory for Poshmark efficiently and cost-effectively.

Start with What You Already Own

Before you hit the thrift stores or start browsing online for inventory, take a look at what you already have in your closet. Items that you no longer wear or need can be a great starting point for your Poshmark inventory. This not only helps you declutter but also allows you to turn unused items into profit.

Smart Thrifting Strategies

Thrifting is a popular way to source inventory for Poshmark at a low cost. To make the most of your thrift store visits, focus on high-quality, on-trend items in excellent condition. Look for well-known brands that have a strong resale value. Don't forget to check for any flaws or damage that could affect the saleability of the item.

Off-Season Sourcing Explained

Off-season sourcing involves purchasing items during their off-season when prices are typically lower. This strategy allows you to stock up on inventory at a discounted rate and sell them for a higher price when the season changes. Keep an eye out for clearance sales and off-season deals to maximize your profit margins.

Pros and Cons of Liquidation

Liquidation sales can be a great way to acquire inventory in bulk at a discounted price. However, it's important to carefully evaluate the quality and market demand for the items you are purchasing. Liquidation sales may offer a mix of high-quality and low-quality items, so be selective in your choices to avoid ending up with unsellable inventory.

How to Track COGS

Cost of Goods Sold (COGS) is a key metric for Poshmark sellers to track their profitability. To calculate COGS, add up the cost of the inventory you purchased, along with any additional costs such as shipping or fees. Divide this total by the number of items sold to determine the average cost of goods sold per item. Keeping track of your COGS helps you make informed pricing decisions and maximize your profits.

By implementing these smart sourcing strategies and tracking your COGS effectively, you can optimize your inventory management for Poshmark and increase your sales potential. Remember, the key to success lies in finding the right balance between cost-effective sourcing and high-quality inventory.

Shop The Yuppie Closet on Poshmark @theyuppielady or grab our TYC INSIDER Posh Reseller Guide.