U.S. consumers who make purchases through Klarna can later list eligible items on fashion resale marketplace Poshmark with a few taps.
When they tap on past purchases in the Klarna app, listings on Poshmark will be automatically prefilled with product details and images, enabling consumers to list the items in seconds and earn cash for items they no longer use, the companies said in a Tuesday (July 22) press release.
This capability comes from a new strategic partnership between Klarna and Poshmark, according to the release.
“As families prepare for back-to-school, Klarna and Poshmark are making it easier than ever to unlock the value of items they no longer use,” Klarna Chief Commercial Officer David Sykes said in the release.
Poshmark Founder and CEO Manish Chandra said in the release: “This partnership isn’t just about convenience; it’s about making it incredibly simple and fun to shop the largest network of closets across America, all while empowering individuals to earn from their style.”
The PYMNTS Intelligence report “New Reality Check: The Paycheck-to-Paycheck Report: The Supplemental Income Edition” found that 22% of employed consumers said they had received active supplemental income in the previous three months and that the most common source of that income was selling used items.
The share varied by financial lifestyle, with 7.3% of consumers who do not live paycheck to paycheck, 10.5% of those who live paycheck to paycheck without issues paying bills, and 6.4% of those who live paycheck to paycheck with issues paying bills saying they received active supplemental income from selling used items, according to the report.
Another PYMNTS Intelligence report, “Persistent Inflation Rekindles Consumer’s Interest in Secondhand Stores,” found that secondhand stores are “having a moment” as consumers seek alternatives to higher prices.
The report found that 43% percent of consumers purchased a secondhand product in 2023, with high-income consumers the most likely to make such purchases, and that 19% of consumers said they had made more purchases from secondhand stores.
It also found that clothing and accessories are the most popular secondhand retail products. Among the consumers who purchased secondhand products, 52% bought clothing and accessories.
