The RealReal is an online based authenticated luxury consignment store that was founded by e-commerce entrepreneur Julie Wainwright back in 2011. The store functions as a type of thrift store that sells secondhand designer clothing and accessories online at hugely discounted prices. The process to get started is quite simple, just go to the store website and signup up with your email or social media account information. You will then be asked if you want to sign up as a consignor in order to get rid of unwanted apparel or if you just want to browse the vast collection of gently used goods.
Those that decide to become a consignor for The RealReal simply have to ship their items (free of charge) to the company’s warehouse located in New Jersey and wait for their items to sell. Once the sale is complete, The RealReal takes a percentage of the profit for their service and the consignor gets the rest of the earnings. Anyone that has 10 items or more to sell gets access to the VIP White Glove service. This service involves The RealReal sending a luxury manager directly to your home to pick up your goods and ship them for you.
Recently, The RealReal has begun expanding their company by establishing an offline presence through the utilization of traditional brick and mortar business. They have made use of the pop-up store trend (stores that are open for a short period of time) which has increased their sales in areas like San Francisco, California up to 500%. With the early success of the pop-up store strategy, The RealReal decided to open its first permanent store in New York City. During an interview with Allison Sommer, the director of marketing for The RealReal, she explained the importance of a traditional brick and mortar presence in the retail business by saying,“Stores help to legitimize your brand and give [online brands like ours] a street-level presence”.
With a continual flow of funding and top-notch leadership, The RealReal has primed itself to experience another major growth spurt in 2018. Be on the lookout for a local pop-up to open soon in a city near you.
Find out more about The RealReal: https://www.youtube.com/channel/UCjD1O1piK6HoiZ-70sfkHpg