Yes, and that’s a very nice way of summarizing the slogan. We also say, “It’s all about the people, duh”. That’s awkward to have to talk to each other about Poshmark. People-Powered Innovation is a mantra for us to help us remember a few things.
So, the most obvious piece is that Poshmark is… Our entire mission is to help our sellers thrive. And so if you think about it, we don’t merchandise. A traditional e-commerce retailer, they have new arrivals and they send emails with all the fancy merchandise that’s just come in. We don’t do any of that.
We’re a platform that is supporting millions of sellers and helping our sellers talk to their buyers about new arrivals and things like that. So, a lot of what we’re trying to do is empowerment of people. How do we build a company and a brand that supports and lifts our people to help them run businesses? So, you really have to focus on their needs and not on just building whatever you want. So, that’s the first layer, it’s all about the people.
The second is, which is related, is we are all technology and people. We have no other business. It’s just people who are innovating and building, like I said, we don’t have warehouses or anything like that. So, that’s another reason it’s all about the people. And then the third is what I mentioned earlier. It’s very easy when you’re building a commerce business to focus on money and transaction.
And at the end of the day, you’re a company, so you do need to kind of fund your company with some sort of source of capital. But we remind ourselves, hey, you know what? Our long-term strategy is to build a community-enabled, a social-enabled marketplace where people can talk to one another, connect. Because we believe that through that engagement will be how we have long-term success, not just us, but our sellers as well. And if you just focus straight on transaction, you don’t build that trust and loyalty with your community, if you don’t build it with your shoppers.
So, that’s another instance of why we say, hey, are we getting our priority straight? Are we putting the people first? Or are we getting confused with putting money first? So, we always put the people first.
