The RealReal was founded in 2011 by Julie Wainwright. For many years, Wainwright was the CEO of Pets.com. The RealReal stands out among second-hand offerings and thrift store with its luxury inventory. The website sticks to offering only luxury items on consignment. The RealReal has expanded from its online identity and opened its first store in New York in the SoHo neighborhood.
Customers of the consignment shop are growing more loyal by the day. Each day, new items show up. It can be a rarity to find a luxury item in your size at a reasonable price. Perhaps that’s why their customers are checking the site daily and weekly for new pieces. You might consider The RealReal’s competition to be shops like Grailed and Heroine. Fashion enthusiasts can’t seem to resist a good bargain on a luxury item.
Today The RealReal has more than 800 employees. Wainwright has taken her years of experience in internet merchandising and successfully applied it to this brand. Of course, customers are welcome to not only purchase items but sell them as well.
In the physical stores, customers can sit down comfortably at the coffee bar during the appraisal of their pieces. The consignment shop has exceeded expectations of a retail clothing store by providing education to its customers. The store hosts events that teach attendees how to identify merchandise that is not authentic.
The RealReal organizes its merchandise according to measurements rather than size. The staff realizes that two similarly sized garments can be labeled vastly different and this is a problem. However, the shop is trying to avoid this confusion Clothing includes specific measurements and is grouped in either small, medium, or large clothing.
The online store and physical stores share inventory. If a customer is interested in purchasing an item in the store, it becomes temporarily unavailable. As soon as the customer places the piece back, it is available in the online store again. Perhaps the fear of missing out keeps shoppers coming back. You never know when an item may appear or disappear, adding to the thrill of shopping.