Poshmark, a US-based social shopping platform that allows users to buy and sell new and used fashion items, has announced that it will exit India, UK and Australia markets by November 2, 2023. The company said that it is making this decision to focus more on its core North America business, where it has over 80 million users and over 9 million sellers.
Users in India will not be able to access accounts
Users in India, who joined Poshmark after it expanded its operations in India in January 2022, will not be able to access their accounts from November 2, 2023. They will also not be able to make any purchases or sales on the platform after October 31, 2023. The company has advised users to withdraw their earnings and use their credits before the deadline. Users can also download their data and history from the platform.
Poshmark offers refunds and incentives
Poshmark has said that it will offer full refunds to users who have pending orders that are not delivered by November 2, 2023. The company will also provide incentives to users who have active listings on the platform. Users who have more than 10 active listings will receive a $25 credit, while users who have more than 50 active listings will receive a $100 credit. These credits can be used on the platform until October 31, 2023.
Poshmark faces competition and challenges
Poshmark’s exit from India, UK and Australia comes amid increasing competition and challenges in the social shopping space. The company faces rivals such as Depop, Vinted, ThredUp and The RealReal, who offer similar services of buying and selling secondhand fashion items. Poshmark also faces regulatory and logistical hurdles in different markets, such as taxes, customs, shipping and payment methods.
Poshmark aims to grow its core business
Poshmark said that it is exiting India, UK and Australia to focus more on its core North America business, where it sees more opportunities for growth and innovation. The company said that it will continue to invest in its community, technology and product offerings in North America. Poshmark also said that it will explore new markets in the future, but did not specify any details.
![gain Rise in Gold Rate in India After Falling Rs 21,200/24K; Will Gold Price Today Jump or Drop on 28 March? By Harshika Yadav Published: Saturday, March 28, 2026, 6:55 [IST] preference Add as a preferred source on Google Gold rates in India witnessed a modest recovery on March 27, 2026, after a sharp fall in the previous session, indicating a cautious stabilisation in the bullion market. The yellow metal had dropped by Rs 212 per gram (or Rs 21,200 per 100 grams) of 24 Karat (24K) earlier, but managed to regain some ground. Gold Price Updates as US-Iran Tensions Ease; Pakistan, Turkiye & Egypt Step Up Mediation Efforts The rise in yellow metal follows easing geopolitical concerns after US President Donald Trump signalled a delay in potential military action against Iran's energy infrastructure by 10 days, pushing the deadline to April 6. This development, along with ongoing diplomatic efforts, has helped support safe-haven demand. gold Rate Today Further adding to market sentiment, Pakistan's Foreign Minister Ishaq Dar confirmed that Islamabad is acting as an intermediary between the United States and Iran, relaying messages as part of efforts to de-escalate tensions. Countries like Türkiye and Egypt are also reportedly supporting the mediation process, offering some relief to global financial markets. Gold Rate in India: Check Latest 22K, 24K & 18K Gold Prices Per Gram 24 Karat Gold Rate Today in India In the 24 Karat segment, at the time of writing, the rate for 1 gram stood at Rs 14,471, rising by Rs 16 from Rs 14,455. For 8 grams, the price increased to Rs 1,15,768, up by Rs 128. The rate for 10 grams climbed to Rs 1,44,710, reflecting a gain of Rs 160, while 100 grams of 24 Karat gold were priced at Rs 14,47,100, marking an increase of Rs 1,600. 22 Karat Gold Rate Today in India The price of one gram of 22K stood at Rs 13,265, gaining Rs 15 from the previous session. For 8 grams, the rate rose to Rs 1,06,120, registering an increase of Rs 120. The cost of 10 grams advanced to Rs 1,32,650, up by Rs 150, while 100 grams were priced at Rs 13,26,500, reflecting a gain of Rs 1,500. 18 Karat Gold Rate Today in India The rate for one gram of 18K stood at Rs 10,853, up by Rs 12. For 8 grams, the price moved up to Rs 86,824, marking a gain of Rs 96. The rate for 10 grams climbed to Rs 1,08,530, increasing by Rs 120, while 100 grams were valued at Rs 10,85,300, reflecting an uptick of Rs 1,200. Latest MCX Gold Price In the domestic futures market, gold on the Multi Commodity Exchange (MCX) held firm above the Rs 1,44,500 level as per latest trading record, supported largely by the weakness in the Indian rupee, which continues to cushion local prices despite global volatility. Latest Spot Gold Rate The rebound in domestic gold rates comes alongside a recovery in international markets, where gold moved above the $4,400 per ounce mark. What Lies Ahead for Gold Prices? Check Gold Rate Prediction Jateen Trivedi, VP - Research Analyst (Commodity and Currency), LKP Securities, said, "Gold remained slightly positive, trading above $4,425 with highs near $4,475, supported by initial optimism around US-Iran talks. However, the sharp rise in crude continues to signal underlying market stress and inflation risks." From a technical perspective, he explained, "Technically, support is seen near Rs 1,42,000, while resistance is placed around Rs 1,46,500. Overall, gold is expected to remain volatile with limited upside unless clarity emerges on inflation and geopolitics."](https://keralanews247.com/wp-content/uploads/2026/03/rupee-and-dollar-scaled-120x86.png)
