Scale up your reselling business with winning strategies for organizing and keeping track of your inventory.
Being neat and organized is perhaps one of the secrets of successful Poshmark sellers out there that don’t get talked about enough. Sure, the quality of clothes and accessories you sell – as well as the visibility of your closet – is important. But if you’re looking to be serious about your reselling business and are in it for the long haul, then you have to be organized and step up your inventory management game. In this article, we will be focusing on just that.
Get started with these must-haves:
A tracking system that works for you. If you don’t have a system yet for tracking your inventory, it’s time to have one. Whether it’s an inventory spreadsheet complete with formulas and SKU numbers or a dedicated inventory notebook with hand-drawn tables and color-coded tabs, the best kind of system is the one you will be comfortable using and maintaining regularly.
Not everyone is a fan of Excel or Google Sheets and that’s okay. What’s important is to log every item on your Poshmark closet and indicate where it is physically stored (more on this later), the date it was posted online, how much it sells for, its increments for discount, and how much it sold for and when. You may also want to add the Poshmark fee and profit for each transaction. You can even put a small photo of the item for easy reference. Look around online for a free spreadsheet or workbook. Experiment until you find a template with inventory details that works for you.
Poshmark generates an inventory report, which can be found under “Order Activity” if you’re using the web version, and under “My Seller Tools” if you’re using a mobile device. The report includes listing details such as likes history, lowest and current listing prices, and the number of days the item has been on the listing. Note that only available items on your Poshmark closet will appear on the report. Once the item sells, it won’t show up in the report anymore. For this reason, it is better to keep a separate tracker as a reference for past sales.
A dedicated space for your inventory. No matter how big or small your space may be, identify the specific areas where you would be storing your Poshmark inventory. It could be a spare room, a clean and dry portion of your covered garage, a basement, or even the space under your bed. The important thing is to be intentional with how you store the items, instead of just letting them mingle with your personal items at home until someone purchases them. Be professional and draw physical boundaries.
Plastic bins to keep items clean and organized. Most clothes and accessories can fit inside large plastic storage bins. You may organize the items per category (women’s, kids’, men’s) or per type (dresses, tops, shirts, skirts, etc.), or according to the month of listing (if you would want to locate the new items fast), then label each box with a number or a color. In choosing the bins, go with identical ones in white or clear. Make sure they are sturdy and stackable. If storing under the bed, pick low, wide bins with wheels.
A spare wardrobe and hangers. There are certain kinds of clothes (structured, delicate ones like cocktail dresses or those that easily get wrinkled) that are best stored hanging instead of folded in a bin. For these, set aside a portion of your wardrobe or get one of those open closets with a simple steel rod – but make sure to hang the clothes in a dust bag or with a plastic covering to prevent dust and smells from sticking on the clothes.
Shelves and silica gel packets. To retain the shape of totes, it is best to put them inside a dust bag (stuffed with tissue or crumpled paper to retain their structure) and store them on a shelf. Otherwise, smaller purses and wallets can be put in a plastic bin. Shoes can be put in their respective original boxes or on plastic shoe boxes (labeled with the name of the item on the visible side of the box) and stored on a shelf. For leather items, you may want to slip in silica gel packets that absorb extra moisture that causes molds.
A printer for your shipping labels. If you intend to be a long-term Poshmark seller, it makes sense to invest in a printer at home so you can easily produce a shipping label without having to wait until you get to the office or a friend’s house. Stock up on extra toner, paper, and shipping boxes so you’re always ready to print and dispatch items!
A mobile phone. You can use your existing one, but better to get another phone to compartmentalize the personal from the business side of things. Resellers scaling up their small businesses like you are busy and on-the-go sourcing items to add to their inventory (be in the know of estate sales and thrift store haunts in your area) and taking photos of these items. You will also be relying heavily on your mobile phone to check your Poshmark dashboard on the fly for offers, likes, and shipping details.
With an efficient inventory system in place, you’re more equipped to grow your Poshmark business. Work hard and smart – win some free time back by getting help for tasks that could be easily automated. Let OneShop take care of your sharing, offers, relisting, and follows for you. If you also sell on Mercari and Tradesy, your items can be cross-listed on those marketplaces, too. See how it can drastically improve your reselling game with our free trial now!