The RealReal, an online luxury consignment shop, has emerged its first retail site in the Soho District of New York City. Founder and Chief Executive Officer, Julie Wainwright launched the dot.com company 6 years ago. The illustrious company has experienced skyrocketing growth since startup. CEO Julie Wainwright keyed in on the resale luxury market by cultivating customer trust and brand authenticity for her store. She fosters this by inspecting and authenticating each article of merchandise before the point of sale. The company has created six offices across the US that specialize in valuations and merchandise drop-offs.
The RealReal has held pop-up editions in various places such as New York, which garnered a 2 million dollar peak in revenue. The physical store location launched shortly after in late November. Director of Marketing, Allison Sommer, explained that a pop-up approach allows the company to test markets and gain and an idea of future sales. The brand recently launched a pop-up event in San Francisco which has resulted in a steady increase of local online buyers. The RealReal has other pop-up ventures in mind; the Las Vegas area is scheduled for a pop-up in the near future. The progressive resale company leads the way in revamping our shopping experience as we know it today. The RealReal incorporated a cafe and a flower shop at the posh Soho location in New York. It also attracts clientele by holding workshops and shopping events that explore high-end shopping brands and discuss diamond talking-points.
The RealReal remains on-trend by turning around merchandise on a regular basis. Their sales staff constantly seek opportunities to grow their online inventory and in-store racks. You will find labels like Chanel, Gucci, Celine, and Louis Vuitton housed in their storefronts. A majority of The RealReal’s clients are drawn to their shops due to the fact that high-end retailers do not discount their merchandise. The company normally sell women and men’s premium attire, fine jewelry, and watches, and well-appointed home goods. They remain in-tune with their customers’ desires for the next experience, so they keep their concepts relevant by reinventing new shopping features.
For Don Ressler and Adam Goldenberg, the idea of fashion and style is something that will give them the chance to truly help people. They want everyone to know about fashion and how it can be helpful for those who want something that is convenient. The technology-related part of their business is what gives them the convenience factor that no other company has to offer. The men like to offer the convenience factor because it is part of what has made their business what it is today. Other fashion companies are not convenient and don’t have the same competitive edge TechStyle is willing to offer their customers. There is a process that people will need to go through if they are going to use one of the TechStyle brands. They have to make sure they have an account with whichever company they are using. The accounts are free and it’s completely free for people to sign up. From there, they have to take a style quiz to show the brand what they are interested in and what they would like to get from the brand. It is what has helped the brand make all of the right choices for their customers.
By taking the style quiz, customers will be able to have a personal stylist. The stylist can choose clothes that are just right for each person. The clothes, shoes and beauty products will depend on the answers each person has from the quiz. The brand will decide what will work for each person and then the customer is able to select whether they think it is something they would be interested or not. The convenience factor comes from not having to shop, but customers can shop a reverse showroom of products that will be perfect for them if they want.
The customers need to make sure they have chosen all the things they want to purchase if they’re going to use a TechStyle brand. Once they have made their selections, products will be automatically shipped to them. Adam Goldenberg and Don Ressler didn’t invent the idea of online shopping, but they did streamline it to make sure it was going to be something people could benefit from. When they did this, they knew things would work best for their customers. They also knew things would change the way most people looked at fashion and beauty while they were shopping online.