By definition, a pop-up shop is a retail store that has opened temporarily to call attention to a trend. The RealReal qualifies as one of those shops; its first concrete location being in New York City, November 2016. The message – selling your valuables instead of throwing them in the garbage. This wasn’t how the brand started however. Beginning as an online consignment chain, they’ve recently ventured to a physical boutique in order to gain recognition with consumers that would otherwise prefer hands-on shopping. The RealReal’s Director of Marketing Allison Sommer says that having these stores open will legitimize their business and promote secondhand shopping.
The RealReal ensures their credibility with a renowned and experienced staff. Seasoned gemologists and watch experts are on-hand to give a price to those valuables just sitting in your bedside drawer at home. The company makes it a point to hire professionals that care deeply about their work, thus boosting quality of business and securing that the clients are in good hands. The RealReal will also be hosting private shopping events and educational workshops to help promote clientele.
Julie Wainwright is the founder and chief executive officer of The RealReal. Previously successful with other startups like this one, she has high hopes in place. Wainwright says the business “exploded” when there were non-stop requests to sell clients’ items, and they brought in experts. The idea really took off. In fact, $500 million was anticipated in gross merchandise value for 2017. Being only a six year old company this in an impressive feat. This isn’t including any venture funding they’ve acquired.
The RealReal presently has six shops open in various cities such as San Francisco, Chicago, Washington D.C., and others. Wainwright claims that not quite half of their revenue generates from online sales, but it is catching up. The company is truly a marketing marvel. And with such a simple idea: selling goods to buyers which will turn both the seller and the buyer a profit.