The Upcoming of RealReal
The RealReal, had a good experience and a substantial amount of success in opening their first store in New York City, so in 2018, they will be investing in more in stores. The company’s director of marketing, Allison Sommer, claims that the year of 2018 will be “The year of the pop-up.” Sommer also made a statement at the conference she attended and spoke at in Miami that, “Stores help to legitimize your brand and give [online brands like ours] a street-level presence.”
In 2016, The RealReal held a pop-up in New York City, which brought a whopping $2 million. They also held a pop-up in San Diego, California, and after the event was over, The RealReal had a dramatic increase of inline sales by 500% year-over-year. They are trying to mimic their success by initiate a pop-up in Las Vegas, and in more locations in the United States. They will believe that all consumers are awaiting a greater experience, therefor, The RealReal plan to have expertise there to help the customers, such as authentication specialists and gemologists.
The company is now six years old and although they have some rough competition, they are the most funded online luxury resale startup. The company has increased to seven million members internationally, and they only plan on increasing.
The RealReal believe that having an in store is the key to spreading the word, and it has worked for them.
The RealReal is a six year old company and resale’s items for women, men, and home items. This company employs over 800 people, and they have six valuation offices in San Francisco, New York, L.A., Chicago, and Washington, D.C. They are also opening a series of brick-and-mortar stores, which will start with one of their locations in New York.