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Swimsuits, crop tops, bikinis in demand, says Poshmark

May 20, 2021
Swimsuits, crop tops, bikinis in demand, says Poshmark

New York, USA

US consumers are shopping for summer wear, with relaxed COVID-19 restrictions and vaccinations. Analysts believe the pent-up demand for apparel and accessories will benefit Poshmark in the second quarter of 2021. Poshmark Inc mentioned that shoppers in the US bought bathing suits, crop tops, bikinis and jean shorts as they look forward to a better summer with relaxed COVID-19 restrictions. The roll-out of vaccines and stimulus cash were also adding to the positive lookout and driving sales.

Poshmark sellers offer items that are both new and second hand. Under the second-hand category, crop tops grew by 101% y-o-y, bikinis were up by 86% and jean shorts rose by 85%. In the first hand or new product category, swimsuits with the description ‘new and with tags’ performed well. Poshmark has a rule that items should be properly cleaned before shipping and sellers give as detailed descriptions as possible. An NPD Group report showed that the sale of swimwear was up by 32% versus pre-pandemic levels in 2019.

A quarter of Poshmark employees are based in India. Cowen analysts believe that the pent-up demand for apparel and accessories will benefit Poshmark in the second quarter of 2021.

Walmart Inc., which reported its first-quarter earnings for the year, mentioned that it saw strength in apparels too.  It added that efforts were being taken to get COVID-19 under control in India, Chile, South Africa and Canada.

MKM analysts feel that the COVID-19 crisis in India has the potential to be disruptive to businesses and delay new launches.

Macy’s, which recently reported its first-quarter earnings, noted that luggage was the most improved category for the quarter. It added that consumers were displaying signs of moving towards a post-pandemic lifestyle with time for in-person activities, travel and events.

Source – MarketWatch

Image Source: Unsplash 

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