The growth and expansion of secondhand e-commerce has become one of the biggest motions in the retail industry. Sites such as The RealReal have become the answer to fashionable and smart shoppers. The resale market for fashion has become particularly hot. A report published in 2018 covering the position of the resale industry indicated that shoppers are now smarter than ever, choosing to go for secondhand at expediting rates. The RealReal has proven to be quite something .The luxury consignment retailer that is based in San Francisco has now taken charge in this shift, focusing on authenticity, sustainability and the never-ending cycle of luxury items.
The previous few years have witnessed the escalation and thrive of resale and the rise of other market disrupters. The online retailers have made it easier to buy, purchase, subscribe and even resell like never before. Along with this motion, the preferences and behaviors of buyers have also changed. For instance, back in 2009 purchasing a new Gucci handbag seemed unlikely as there were no many options rather than purchasing it in the main market. However in the present day, The RealReal has come up with several options and it is now possible to purchase that Gucci handbag secondhand at a lower price. Such a focus on making new lifecycles for luxury materials offers quality items with a new life and also provides buyers with more leverage more than ever. Most notable modern closets are now experiencing a powerful evolution and resale is the force behind it.
The RealReal was founded in 2011 by Julie Wainwright, a dot-com entrepreneur, and the previous Chief Executive Officer for Pets.comand Reel.com. Down the line, The RealReal’s popularity has risen together with the luxury resale. The RealReal site has extensive pre-owned collections from some of the top world designers including Gucci and Louis Vuitton bags, Chanel jewelry, Tiffany jewelry, Cartier and Rolex watches and outstanding shoe collections Christian Louboutin and Manolo Blahnik. The modern insights that The RealReal offers, enables consumers to track the value of products they purchase with ease, resulting in more retail purchase in the main market.
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