Some entrepreneurs are starting their own businesses with what they already have in their homes, selling unwanted clothing and household items. A report from ThredUp suggested the US secondhand market was worth $35 billion in 2021 and is expected to reach $76 billion by 2025.
Shannon Jean, a former tech-business owner, sells designer handbags on Poshmark and eBay. He told Insider he sold about $500,000 in 2020, and he estimated that 70% of those sales came from Poshmark.
DepopBest suited for: Younger people tend to look for trendy fashion on Depop. You'll also see more streetwear and designer brand clothing on the platform.
Cost: It's free to list. There's a 10% transaction fee on all sales.
eBayBest suited for: Collectible and rare items do well on eBay, where you'll find the serious buyers. Plus, if you sell through auctions, you could get more money than if you list through other platforms more focused on markdowns.
Cost: It's free to list up to 250 items a month, then it's $0.35 per item after that. Transaction fees depend on the item, but typically eBay takes a 13% commission on sales.
MercariBest suited for: Sellers list a variety of items on Mercari, such as household items, electronics, video games, apparel, and kitchen appliances. It's like an online version of a garage sale, so shoppers are looking for deals.
Cost: It's free to list. There's a 10% fee on all sales.
PoshmarkBest suited for: If you're reselling brand-name clothing, accessories, and home goods, Poshmark is the place to be. The popular marketplace app also functions as a resale community and rewards sellers who engage with customers, participate in virtual shopping events, and promote others' listings. In September, the resale platform launched a new feature called Posh Shows, which allows selected resellers to host livestream shows and auction off items from their closets.
Cost: It's free to list. Poshmark takes a 20% commission on sales of $15 or more. For sales under $15, Poshmark charges a flat rate of $2.95.