Poshmark claims it is a “leading” social marketplace for new and secondhand style for women, men, kids, pets, home, and more. Poshmark says that it “prioritizes a best-in-class buying experience that is smooth and stress-free for their customers, making Affirm’s Adaptive Checkout — which delivers Pay in 4 and monthly payments in an integrated checkout flow — particularly appealing for their business.”
As one of the first merchants to adopt Affirm’s (NASDAQ: AFRM) Adaptive Checkout, Poshmark explains that it aims to “offer more payment flexibility and choice to their customers which has led to increased conversion and a lift in overall Affirm captured sales.”
Poshmark’s Director of Payments Partnerships and Strategy, Adam Clarke, outlines why Adaptive Checkout was such an “obvious” choice and how their partnership with Affirm aligns with their “overall business goals.”
Adam notes that one of Poshmark’s Core Values is “together we grow.” This represents Poshmark’s commitment “to fostering a supportive and inclusive workplace where employees can learn, develop, and advance their careers.”
At Poshmark, growth is “not just encouraged — it’s built into the company culture.” The company recognizes everyone “has unique strengths and weaknesses and provides opportunities for employees to grow professionally and personally through training, mentorship, and collaboration with colleagues.”
Adam added that this “ensures that everyone is empowered to bring their best selves to work and has the support they need to succeed and thrive.”
He also mentioned that Poshmark saw “a chance to offer a fresh payment alternative to our community.” The new installment option offered by Affirm “aimed to allow buyers more flexibility when financing their purchases.” This strategic move was “not only a step towards enhancing user convenience, it was also an effective strategy to stimulate average order value and bolster buyer conversion rates.”
Their integration with Affirm underscored their commitment “to continuous innovation, all while striving to deliver superior user experiences.”
They’re always exploring ways “to make transactions as smooth as possible for their customers, and this is a testament to that.” By offering more versatile payment methods, they’re helping their users “shop more confidently, promoting increased purchasing power, and ultimately driving more conversions on the platform.”
At Poshmark, they want to build “a buying experience that allows every community member to engage in commerce with each other, especially when purchasing luxury goods and apparel. We want to ensure our users have a smooth, stress-free shopping experience.”
Adam also noted that when Affirm approached them with Adaptive Checkout, they immediately saw “a win for our mutual users.”
By unlocking Adaptive Checkout, they would expand the price points [Affirm was available for]. Previously, the floor limit was “set at $200, which left many of their customers looking for flexible payment options eager to use Affirm at a lower dollar threshold.”
However, with Adaptive Checkout, they could “lower the floor limit to $50 and offer the ability to Pay in 4 with Affirm, alongside monthly payment options, making Poshmark accessible to a broader audience of buyers.” They adopted Affirm’s Adaptive Checkout “to reduce friction and deliver more flexibility and choice for Poshers pay for the items they want, in the way that they want.”
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