The RealReal Is Extending The Cycle Of Luxury Items
There are a lot of places online where one can buy used luxury items, however, determining whether or not the product is legitimate or not is another matter. Many companies out there have been found to contain fakes, which has made the business much more difficult, especially as fakes become more elaborate and prevalent. The RealReal prides themselves on having a good authentication system with no fakes in their inventory of luxury items. The RealReal is headquartered in San Fransisco and has built a trustworthy reputation for shoppers as one of the biggest luxury item sellers.
The RealReal is one of the primary reasons that the stereotypes facing the online second-hand retail business have been fading. It the past, it was hard to trust whether or not a company was legitimate and if they maintained good documentation of their products. The RealReal’s dedicated team of professionals and thorough authentication process has allowed them to become a leading second-hand selling in the market in just four years. In the company’s second year, they were able to sell more than 100 million dollars in merchandise.
The RealReal has a quick turnover rate, usually selling their acquired luxury items in 30 days or less. They also provide a driving service for their sellers, picking up items at their homes to bring to the companies warehouses.
As the demand for second-hand items, especially luxury items that are less than their retail counterparts, companies like The RealReal are going to expand greatly. According to The RealReal’s CEO, Julie Wainwright, shopping habits have changed over the years, which is why there are so many people looking for secondhand luxury items. This has even sparked a movement in many retailers of luxury items to start offering gift cards. As the value of secondhand items continues to go up, so does the value of firsthand items as well.