In a recent New York Times article, a journalist wrote about The RealReal. It is one of the leading consignment companies for luxury clothing and accessories. The RealReal used to operate only online but recently opened its first brick-and-mortar store in SoHo. It originally opened a pop-up shop in the neighborhood. These temporary shops are popular in New York City. Since The RealReal’s pop-up shop was a huge success in the trendy neighborhood, the company decided to keep its presence there. However, The RealReal still operates online as well.
The RealReal: A Place To Find Real Bargains
The author of the article recounted an experience at a party. A woman arrived at the party, and a mutual friend of theirs told the woman that she saw her skirt at The RealReal. Another lady expressed her happiness that the woman was the one who bought that skirt. The verbal exchange made the author realize the popularity of The RealReal. The author called shopping at The RealReal a beautiful distraction and compared it to an addictive game app. She said that many people who reported shopping at The RealReal visited the store frequently. Some visited multiple times per week. With its open consignment structure, new items arrive at the shop every day.
Since it was founded in 2011, The RealReal has brought in more than $173 million. Julie Wainwright is the founder. She has been working in technology and merchandising since the 1990s. Julie was the CEO of a major online pet supply store in the past. She knows the importance of a unique value proposition. From the company’s selling platform to its authenticity guarantee, it delivers considerable value to customers and consignment sellers. To uphold The RealReal’s authenticity promise, skilled staff members research each item and inspect it carefully to ensure authenticity. Careful research is also necessary to ensure accurate values for sellers and fair prices for customers.
The RealReal’s Amazing Interior
When people come into the store to sell luxury items, they may sit on comfortable sofas while they wait for an appraisal. Alternately, they may go downstairs to the coffee bar. If they like flowers, they may also browse the Fox Fodder Farm blooms at the front of the building. With its versatile design, the setup of the new store is innovative. The shop appears to have plenty of floor space. However, there are pull-out clothing racks that are hidden in cabinets. The racks are packed with bargain luxury garments. In the center of the store, there is a display area that is collaboratively designed. Its themes change frequently.
How The RealReal’s Shopping Experience Works
An interesting feature of The RealReal is its dual availability of items. Lucky customers who live in New York City may visit the store to browse new arrivals or to see a specific item from the website. Customers who visit The RealReal can pick up any potential purchases. When an item is picked up, its special label is scanned. The scanning device is connected to the company’s inventory database, which temporarily marks the item as unavailable on the website. If a customer buys an item, it disappears from the website. However, the item becomes available on the site again if the customer puts it back.
One customer said that she enjoyed visiting the store and preferred seeing items in person. She said that it gave her the advantage of feeling the material and ensuring a proper fit. Also, she noted that the wear on some items was not as visible in photos as it was when she visited the store and held the clothes in her hands. As the New York Times writer pointed out, garment sizing has been a pain point among women for many years. While a shirt from one designer may be marked as a size 10, a similar style of shirt with the same measurements may be four sizes smaller according to another designer’s standards. The RealReal addresses this problem by group sizing with labeled rack sections such as small, medium and large. The company bases its decisions on clothing measurements. However, measurements may be deceiving to some people. For example, a shirt that is in the large category may be meant to fit loosely on a person who usually wears a small or extra-small size. The shirt would not look right on someone who wears a larger size. This is another reason why some shoppers prefer to visit the SoHo store in person.
The pricing structure varies greatly. A price is assigned to an item based on its condition and current value. In comparison with retail prices for new designer items, the consignment shop’s prices are low. The author of the New York Times article said that most items were priced under $300 or over $1,200. Since those numbers leave a significant gap, lower-priced items create a sense of urgency for shoppers. Also, the knowledge that any unique or rare item could be gone in an hour creates a sense of urgency. Many shoppers find these aspects of visiting The RealReal thrilling, and they enjoy the satisfaction of finding a rare bargain in the right size.
Today, The RealReal has more than 800 employees, and there are six valuation offices throughout the United States. Additionally, there are three large fulfillment centers. People are welcome to contact a nearby valuation office to set up an appraisal appointment. The company has a no-pressure approach to providing valuation information. Appraisers are happy to explain how values are determined. At the SoHo store, there are also frequent events that all people are welcome to attend. The events teach shoppers how to identify fake designer bags, clothes and other merchandise. With the success of the recent SoHo store opening, The RealReal’s fans may see more stores open in the future in other parts of the country.