Klarna and Poshmark form partnership to facilitate smooth second-hand shopping, perfectly timed for the upcoming back-to-school season.
In a strategic move to revolutionize the fashion industry, Klarna and Poshmark have joined forces to make reselling clothes and accessories more accessible and attractive for millions of Americans. This partnership aims to make reselling easier, simpler, and more fun, especially during the back-to-school season.
The collaboration between the two companies embeds the resale process directly into the Klarna shopping app, eliminating friction and making it intuitive for users to convert unused clothes and accessories into cash. With just a few taps, U.S. Klarna app users can now instantly list eligible purchases on Poshmark, with item details and images auto-populated.
Key features and benefits of this partnership include:
- Instant Listing with Automatic Product Info and Photos: Users can turn items like last season’s backpack or sneakers into listings on Poshmark in seconds, without manually entering details.
- Increased Convenience Encouraging Resale: Around 90% of users in a Poshmark survey said this resale feature saved them time, and 78% felt inspired to resell items they otherwise wouldn’t have.
- Back-to-School Timing: The partnership launched just as U.S. families face high back-to-school expenses (average $870 per household), offering a way to offset costs by earning money through resale.
- Supports Circular Economy Growth: The collaboration encourages participation in the expanding secondhand fashion market, predicted to reach $521.5 billion globally by 2034, appealing to economically and environmentally conscious shoppers, particularly Gen Z and Millennials.
- Welcome Bonus for First-Time Listers: Those using Klarna’s feature to list on Poshmark get $10 in Posh Credit, adding incentive to try reselling.
Manish Chandra, Founder & CEO of Poshmark, expressed his excitement about the strategic partnership with Klarna, stating, "We're thrilled to partner with Klarna to make reselling more accessible and attractive for our users. This partnership reinforces our commitment to helping consumers save time and money while contributing to the growing circular economy."
This joint initiative contributes to the growing circular economy, which is expected to grow to $521.5 billion in 2034, in part due to rising awareness among consumers of environmental issues associated with fashionable clothing and accessories. The resale boom is being driven by Gen Z and Millennial consumers, looking for smarter ways to shop and live.
In a recent Poshmark survey, 90% reported that Poshmark's resale feature saved them time, and 78% reported this feature inspired them to resell something they otherwise wouldn’t have. This partnership caters to their preferences, making reselling more effortless and enjoyable.
The partnership between Klarna and Poshmark aims to help customers refresh their wardrobes for the back-to-school season while offsetting new school year purchase costs. For a limited time, first-time listers utilizing the Klarna feature will receive $10 in Posh Credit to spend on Poshmark as a welcome bonus.
Each listing on Poshmark is automatically pre-filled with product details and images, taking the hassle out of resale. The strategic partnership between Klarna and Poshmark contributes to the growing circular economy, making it easier for consumers to participate in the second-hand fashion market.
This strategic partnership between Klarna and Poshmark embeds technology in the Klarna shopping app, enabling users to list and sell their unused clothes and accessories, contributing to the lifestyle of savvy shoppers who aim to offset costs during times such as the back-to-school season. With automatic product information and photos, the technology-driven feature saves users time and incentivizes them to participate in the growing circular economy.
