Poshmark, the popular second-hand retailer, is facing challenges due to the new privacy controls implemented by Apple. These controls have impacted Poshmark’s marketing efforts, leading to a forecasted third-quarter revenue slightly below expectations. Poshmark heavily relies on social media marketing to attract shoppers, and the impact of Apple’s new policy was felt towards the end of the second quarter. This impact is expected to continue into the current quarter.

However, Chief Executive Officer Manish Chandra expressed confidence that the effects of Apple’s policy would be temporary. Poshmark has been adapting by investing in alternative marketing strategies, such as TV ads and collaborations with celebrities like Marie Kondo. Chandra believes that the company’s diversified channels will help mitigate the impact of Apple’s policy.

In the second quarter, Poshmark reported a 22% increase in revenue, surpassing estimates. The company’s revenue rose to $81.8 million, beating Refinitiv IBES estimates of $80.3 million. This success can be attributed to Poshmark’s ability to attract thrifty young buyers who are looking for more environmentally sustainable ways to shop.

The Delta variant of the coronavirus does not seem to be a major concern for Poshmark’s revenue outlook, according to CEO Manish Chandra. This suggests that the company is confident in its ability to continue growing despite the challenges posed by the ongoing pandemic.

Poshmark’s smaller rival, ThredUp Inc, also reported positive results in the second quarter, with its revenue surpassing expectations. This further emphasizes the potential for growth in the second-hand retail market.

To expand its global footprint, Poshmark recently announced its entry into the Indian market. India is one of the fastest-growing e-commerce markets in the world, and Poshmark aims to tap into this market by offering its unique shopping experience to Indian consumers. Poshmark views India as an attractive market with a large base of sustainability- and value-conscious consumers, particularly among Generation Z and millennials. The company believes that its social commerce model will resonate well with the cultural and business landscape of India.

To support its international expansion, Poshmark has appointed two new leaders. Sylvie De Wever has joined as Poshmark’s first Vice President and General Manager of International, and Anuradha Balasubramanian is the General Manager of Poshmark India. These appointments highlight Poshmark’s commitment to successfully enter new markets and establish a strong international presence.

Despite the challenges posed by Apple’s ad tracking changes, Poshmark remains optimistic about its future prospects. The company’s ability to adapt its marketing strategies, along with its expansion into new markets, demonstrates its determination to continue growing and providing a unique shopping experience for users worldwide.

Useful links:
1. Poshmark – [link 1](https://www.poshmark.com/) (Note: This link doesn’t have the ‘target=”_blank”‘ attribute as it’s within the text already)
2. ThredUp – [link 2](https://www.thredup.com/)