According to Manish Chandra, CEO of online resaler Poshmark, fashion trends are evolving as people prepare for the post-pandemic era. After a year of lockdowns, sales of outgoing clothes are on the upswing. Meanwhile, fitness apparel sales are declining, and the e-commerce platform is a way for customers and sellers to “purge” their closets, he said in an interview with Jim Cramer of “Mad Money.” “We’re definitely seeing a shift in what consumers are purchasing,” Chandra added. Poshmark is a social media-based online marketplace where buyers and sellers may create profiles, engage with one another, like, comment on, and share clothing for sale at “Posh parties.” “We’re starting to make folks ready in some ways,” Chandra added. Bikini and denim short sales have approximately doubled on the consignment site as interest in in-person social activities rises in the warmer months. Sales of work dresses are up 30% as many firms summon employees back to the office after around a year of remote work, according to Chandra. Sales of sweatpants and other workout-related clothing, on the other hand, have slowed, he added. The environmentally conscious service, which does not keep inventory, allows customers to recycle or sell their apparel, diverting unwanted things from landfills. “It’s a massive purge in some ways, but your purge has worth for someone else,” Chandra explained. Poshmark went public in January with a $3 billion initial public offering, more than doubling its worth from the previous year. At the time of writing, the stock was trading at $39.34. Do you have any questions for Cramer? Cramer may be reached at 1-800-743-CNBC. Interested in learning more about Cramer’s world? Make contact with him! Money that’s out of control Jim Cramer on Twitter Twitter, Facebook, and Instagram are three of the most popular social media platforms. If you have any questions, comments, or recommendations for the “Mad Money” website, please send them to madcap@cnbc.com./n
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