Category Archives: Online Marketing

The RealReal Luxury Item Consignment Has Struck Gold With The Novel Concept

If you are in the market for secondhand high-end luxury items like the most recent Chanel or Hermes bag or maybe a Celine blouse, you’re in luck—the RealReal, has just the items on their online membership site that feature secondhand high-end items on consignment, such as luxury apparel, fine jewelry, and art pieces. TheRealReal acts as a go-between patrons who are selling their own high-end luxury items to sellers who are more than willing to shell out big bucks for luxury items that rarely depreciate in value. Wainwright says that for every RealReal seller, there are at least four buyers and she also claims that over half of RealReal’s sellers end up purchasing for themselves. While the average RealReal buyer is female, Wainwright indicates that men make up about 20% of her clientele and that RealReal’s buyer demographic includes every age group from millennials to baby boomers. She also says that almost half of the RealReal’s online customers are selling and buy high-end luxury items for the first time. The RealReal’s site offers professionally-taken and tastefully presented pictures of items that you would expect when showcasing items of this caliber. The standard iPhone pics wouldn’t do, now would they?

Wainwright believes she has struck gold with RealReal’s novel boutique concept because the company has positioned itself as a trusted expert on the items it features, going as far as having on-staff a roster of gemologists, brand authenticators, and art curators. RealReal customers are offered trusted guarantees that all items are authentic and Wainwright believes this has fueled the company’s explosive growth. Founded in 2011, in San Francisco by CEO Julie Wainwright, the RealReal has opened flagship storefront offices in major U.S. cities, including a long-awaited location in NYC’s trendy Soho neighborhood. The RealReal employs over 1,500 employees and recently secured more than $170 million in venture capital funding that will aid in Wainwright’s carefully-laid plan for continued growth and expansion with the RealReal.