The new pop: The RealReal

The RealReal is an online luxury consignment store where people with luxury brand clothes consign them with the store and receive a share of the profit once the item has sold. In the past almost seven years since their launch, it has come to be considered not one of, but the world’s largest online consignment store, and for good reason. Their goal is to extend the life of luxury brand items while being environmentally conscious and assuring that every item is the real thing. The RealReal, which has previously been an online only consignment store, made the bold decision to open it’s first in-store location in New York City in November of last year. The store did so well that that The RealReal’s director of marketing, Allison Sommer, announced that they would be holding pop-up sessions to raise awareness to their company and scope out possible places to create more in-store locations. While speaking at at a FutureStores conference in Miami, Sommer stated that “Stores help to legitimize your brand and give [online brands like ours] a street-level presence” and that “Once somebody walks in and gets sucked into the cool features and values of the brand, they become loyalists”. Before opening their first store location in New York, they had held a “pop-up” session about a year back and the result of this brought in a nearly $2 million to the company. The goal of these “Pop-ups” appears to be raising awareness to fashion forward customers who aren’t used to such thing the way that New York shoppers and Los Angeles shoppers are. As for their current store, it is fully equipped with authentication specialists, gemologists, and more on the sales floor to attend to customers. There are also informational sessions for VIP customers and in-store consignment offices where current consigners with the company can come in to get prices on items and drop off items to be sold. With so much success it appears that The RealReal will continue to grow for many years to come, but whether or not more in-store locations will open is yet to be determined.

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