The RealReal offers gently used luxury fashion, and the whole concept is becoming a real trend. The company is becoming popular among luxury and fashion buyers and consigners who seek out luxury goods at discounted prices.
It is predicted that the total resale retail market may reach up to $41 billion by the year 2022. Other studies have shown the used merchandise market to be one of the fastest-growing sectors with online companies like ThredUp and TheRealReal thriving in the market.
TheRealReal started as an online business and has two physical stores. One location is in New York’s SoHo neighborhood, and the other is in Los Angeles on Melrose Avenue. The reasoning for the physical stores is that luxury shoppers often spend double on consignments than what they spend online. It is an effective marketing strategy because they also receive lots of high-quality consignments as well.
The RealReal’s Passion for Fashion
A lot of the retail consignment market are older affluent customers who enjoy shopping secondhand and have been doing so for years. It’s because they enjoy getting a bargain and appreciate the excellent value in quality goods.
Millennial shoppers also enjoy the treasure hunting experience of secondhand shopping.
The fashion tastes of American shoppers are changing. They are not wanting the same old fashion pieces that everyone else is wearing. Shoppers are embracing originality with clothing and accessories that match their unique style.
With secondhand luxury items, you can mix and match with other more contemporary styles for a more individual and authentic feel. Luxury secondhand goods at affordable prices is where The RealReal delivers. They offer luxury goods at a more affordable price for people looking for value.
They find that most of their shoppers will buy newer items from the website, use them for a few months, and sell them on consignment. They are then free to use the money to purchase other things again.
People have a passion for fashion, and this is the allure of The RealReal. Some people love to collect fashion, while others love to have a few key fashionable pieces in their closet. If they browse the website, chances are they will see items they saw in magazines like Vogue or on the runways of Paris or Milan. The key is that they will want to have that item.
The RealReal’s Top Selling Brands
Some of their top-selling luxury brands include Gucci, Chanel, Louis Vuitton, and Cartier. Some of the more original items that are having a moment include Kanye West’s Yeezy X Adidas shoes, dad-style Hawaiian shirts, fanny packs, and ball caps.
The company’s website has over two million visitors, and many of them spend time browsing through merchandise highly engaged and averaging at least ten pages per visit. It is also interesting to note that most of their traffic comes through organic search with only 8% in paid search traffic. People know what they want to buy when they visit the site.
The site is trendy among affluent millennials, with one-third of visitors ages 24 to 34. The company has been online for about seven years and is enjoying more success due to the younger generation’s love of fashion.
Check out more about them here.
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