The RealReal Update for 2018

Allison Sommer has announced that RealReal intends to invest even more in the in-store experience in order to attract more shoppers and higher revenue.

This announcement, made by Sommer at a Futurestores’ conference, comes after the amazing campaign in New York.

The RealReal officially opened for business in SoHo in November of 2016. Its wild success is attributed to the increase in on-site sales compared to those of on-line orders. Sommer claims that the increase in sales is in fact at 600%, and that customer loyalty plays a large part in the improved shopping experience.

In newer markets, such as those in the San Francisco Bay Area, the pop-up experience is vital to build brand awareness. In fact, once the San Francisco pop-up came to a close, The RealReal saw an increase in its sales volume by a factor of five.

Future pop-ups are planned for Las Vegas and other locations, with the hope that customers will get accustomed to the shopping styles of buyers in metro areas such as Los Angeles and New York.

Not all pop-ups will be outfitted with the traditional cafes seen in earlier ventures. Instead, the pop-ups will feature world-class experts in a wide spectrum of areas, including gemologists to help customers choose and value merchandise.

Other events include private shopping opportunities for VIP customers, and informative sessions geared toward specialized shoppers who are keen to learn about how diamonds are priced, or how the famous Chanel brand got its start.

Operating an actual brick-and-mortar space is crucial to promoting both a sense of brand awareness and establishing loyalty.

Additionally, this in-store presence is very important both for customers and those vendors who wish to offer merchandise on a consignment basis. According to Sommer, the newest sellers at RealReal are often using consignment for the first time. It is yet to be determined, however, if these new configurations and store models will lead to an increase in the number actual stores.

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