Klarna partners with Poshmark for Back-To-School resale

With Back-to-school spending set to reach a record 870 US dollars per household this year, according to recent data from Mintel, adults across the nation are looking for ways to save money, which includes resale. Searches for “back to school” on Poshmark jumped an astonishing 126 percent month over month in June, underlining the demand for more affordable options.

On the back of this data, online marketplace Poshmark has entered into a new strategic partnership with payment provider Klara to simplify its resale process. Klarna app users in the United States can now instantly list eligible purchases on Poshmark through the simple tap of a button and create automatically pre-filled listings, complete with product details and images. 

The new feature launch is designed to streamline the resale process and help US consumers sell items they no longer use. The partnership comes as 90 percent of Poshmark users reported that the resale feature saved them time, with 78 percent adding that the new feature encouraged them to sell an item they may not have sold otherwise. 

To mark the launch of the new feature, first-time listers using the Klarna feature on Poshmark will receive 10 US dollars in Posh Credit to spend on Poshmark as a welcome gift. “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,” said David Sykes, Chief Commercial Officer at Klarna, in a statement.

“With just a few taps, shoppers can list items directly from the Klarna app to Poshmark, clearing out space and giving everyday items a second life.” A joint initiative from the companies, the partnership supports the increasing circular economy and resale market, as the second-hand global fashion market is predicted to grow to 521.5 billion US dollars by 2034.

“The back-to-school season is the perfect time for refreshing wardrobes, and we’re thrilled to team up with Klarna to make that easier and more sustainable than ever,” said Manish Chandra, founder and CEO of Poshmark. “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.”