Seeing the Poshmark alert “Congrats! Your Bundle of …. has sold!” on my phone screen is on of the most beautiful sights! Now that shoppers can make an offer on bundles there is more potential to see it!
I started out editing my original post Bundles: Strange Behavior Decoded… but I decided to post a new one and add links. It’s more fun to start a new discussion about the bundle feature anyway.
Looking at the date of that post, I was actually shocked that it has been almost 2 years since the bundle feature was introduced- time has flown!
Ok, let’s get to it! The new(ish) offer on bundles feature…
First, you have to know how to make a bundle.
How to Make a Bundle
1. Go to the item that you want to bundle and tap the icon in the top right
and select “Add to Bundle”
2. Do this for all the items that you want (note: you can only bundle items in the same closet)
3. To view and purchase, go to “My Likes” inside your dashboard
4. Then tap on “Bundles” to view all created bundles.
(Note: if something you added to a bundle has sold or is no longer available it will prompt you to delete the item)
5. Then you can proceed to check out as normal
You can MAKE AN OFFER!!!
How to Make an Offer on a Bundle
Here are the basics when you make an offer…
Start by adding items into a bundle and then view the bundle
I love that at the bottom right to the left of the offer option tells you how much the bundle is prior to making an offer
(not including shipping costs)
Now if you offer too low it will let you know the lowest you can offer which is approximately 20% of the bundle price after seller discount (if any)
Or, if you didn’t pay attention to the discounted amount- it will tell you if the discount is LOWER than what you were willing to offer
After you have decided on an offer to submit, this is what the seller will see…
Right above my offer of $30, the seller can see how much the bundle would have been if I had just taken the preset bundle discount. I love this because it can help you put the offer into perspective.
If the seller were to accept my $30 offer- then that is what I would pay plus shipping. The discount does not apply additionally since we were agreeing to a price lower than the discount.
Things to consider as a BUYER:
- You may not know this is you are a buyer only but sellers can get their feathers ruffled over low offers (and may not counteroffer because if it). So sometimes it’s best to just place your highest offer and hope for the best. You want them to accept on the spot and they want to as well!
- Pay attention to the preset discounts- if they are already giving you 20-30% off, that is already a huge discount (and Poshmark fees are an additional 20%)
- Kindness goes a long way- commenting along with an offer is typically well received, i.e. “I placed an offer, I hope you will consider it!”
Things to consider as a SELLER:
- One negotiation mentality is this: the expectation of meeting in the middle. Let’s say your item is $60 and they offer $20. They might REALLY be willing to pay $40 but think if they start at $40 they anticipate that you will counter with $50. Make sense? Of course everyone is different but I always consider the middle amount and if it works for me- I will try to meet them there.
- There is VALUE in selling bundles! You can potentially be paying less commission. If you have 2 items at $10 each- you will be making $7.05 each if sold individually, paying $5.90 total in commission/fees to Poshmark (making $14.10 combined). If you Bundle the 2 equaling $20 then you pay 20% which is $4 (making $16). Accept an $18.00 offer and you are paying $3.60 (making $14.40). Sometimes you have to decide if it’s worth holding out for the extra dollar or two. It rarely is. This only works when dealing with items under the $15 threshold- but it’s worth mentioning in case you had never thought of it that way.
- Repeat customers. You want (NEED) repeat customers. If you prove yourself as a fair negotiator you are more likely to have repeat buyers- and honestly- if you can get one or two of them it can make the world of difference in your sales.
Even if the offer is too low for me to accept or if I am completely firm on my price, I am still grateful for all offers. It means that someone came to my closet and liked what they saw. Reactions are everything. I’m leaving that there and adding this link Think Like a Store Owner if you want to read my opinions on that subject.
Lastly, I just have to mention…
Rumor has it that some users have a function within the make an offer feature that let’s then “hold firm” on their price. It seems to still be in beta mode and unfortunately I do not have it… more to come on that subject…
Have you been successful with the bundle offer feature? How do you negotiate?
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