Success of an online store

The RealReal is just a six year old company located in San Francisco, specializing in authenticated resale items for men, women, and your home. The company employees now over 800 people and has opened six offices in the last eighteen months. Alison Sommer the director of marketing for The RealReal says the company plans to invest for more in- store shopping. Pop-ups will become a very common and year round thing.

The pop-up in New York did very well and it made them millions, because of the success they had they decided to open a store in SoHo in November. Pop-ups will be tested in other areas to test how well they do in the year. It’s reported that in store orders are six times more than that of online orders. This is a big difference for a company that was only online, spreading awareness of a company is important for driving sales.

The RealReal has seen a 500% increase in the year to year number of online users. Since these pop-ups have been doing so well, the company plans to set up shop in Las Vegas and more locations on the way. The RealReal want’s to open up pop-up stores in areas were there isn’t typically, to reach fashion lovers in smaller areas. Doing this makes it exciting for these areas and hopefully boost sales.

Customers want more though, it’s not enough to just rest on the merchandise, people want excitement and a special experience they cant get anywhere else. Pop-ups in new York or Los Angeles have fancier see up’s like gemologists and authenticity specialist, but every pop-up will have an extremely professional staff and have the most current knowledge base on fashion. They pride themselves on hiring people who have worked in well respected stores like Sotheby’s or Gucci. With any higher end shopping site The RealReal will have private shopping events, and educational workshops.

investors will have the ability to go to in-store consignment office and will have more perks than the average consumer. The cosign sellers are very important investors making The RealReal the most funded online luxury resale shop. Having an online presence has help The RealReal get that message across that instead of keeping old items sell the ones you have and buy new. Who knows if this will allow for more permanent shops we will just have to wait and see.

Read more about The RealReal: https://techcrunch.com/2017/05/05/the-realreal-is-opening-a-real-store-in-new-york-and-other-news-from-ceo-julie-wainwright/