Market for resale Poshmark has implemented a new machine learning tool in an effort to boost customer engagement while speeding up sales for sellers.
The service, called “Promoted Closet,” is now accessible in the US and matches search phrases entered by customers with promoted listings using machine learning in an effort to increase sellers’ revenue.
Automatic promotions based on weekly budgets and access to performance analytics, such as data reports and return on ad spend, are two of the new services for sellers.
Many Poshmark customers have already tested Promoted Closet; according to the site’s data, the function has raised sales for these users by 43% while also increasing listing page visits by 80%.
“Our priority has always been to build a best-in-class platform and vibrant community where sellers can pursue their personal passion and achieve economic empowerment,” stated Manish Chandra, the founder and CEO of Poshmark, in a release. “With the introduction of Promoted Closet, we’re enabling sellers to sell more while forging new connections with shoppers.”
“As the newest addition to Poshmark’s rich repertoire of seller tools, Promoted Closet unlocks a simple way for sellers to drive visibility to their closets while helping shoppers discover items they’ve been looking for, cementing Poshmark as the number one destination for fashion resale.”
