RealReal, The Future of Retail Luxury!

The RealReal, a 6-year-old posh online consignment store has transitioned into a brick and mortar retail market, offering premium shopping options. The resale store was founded by Chief Executive Officer Julie Wainwright who is no stranger to the startup industry. She has been involved in multiple dot.com companies like Pets.com. The RealReal’s cornerstone store in New York City is by far the latest rage for true shopping enthusiasts. The emporium houses a cafe and flower shop which further creates a magnificent experience for its customers. The RealReal is working toward expanding its brand into cities like San Francisco and Las Vegas. Director of marketing, Allison Sommer explains that each new region will offer something different. The RealReal fosters continuity by selling glamorous fashion wear, home decor, and exquisite jewelry lines, but they are finding that customers are craving more possibilities. The company prides themselves on staying in front of keeping their customers happy.

The digital store noticed that when they delivered pop-up experiences, their retail sales skyrocketed. This type of marketing enables them to brand like no other initiative. It allows the brand to creatively gain awareness. The store is careful in the selection of its sales staff. The RealReal has been known to seek sales talent from high-end stores like Gucci and Sotheby’s. The store leads in presenting remarkable enjoyment for their customers; they offer shopping events for their very important customer sector as well classes on themes like “How to value a diamond” and “The history of Chanel”.

Consignment shop sellers, or “consignors” play a major role in The RealReal’s success. These sellers can now visit the in-store consignment locations to receive real-time price quotes on merchandise. They also can conveniently drop off items to be sold online. Strangely enough, a majority of The RealReal’s new consignors have never taken part in reselling before. The store takes great measures in inspecting and authenticating all items they acquire, which strongly contributes to sustaining brand reliability and customer trust. The shop is hoping that more and more people will explore buying and selling in this manner in the future.