The ReadReal is a Fransisco based company which mainly deals with authenticating and resulting items. The company mainly focuses on women, men and the home products. It was founded by Julie Wainwright who is the current Chief Executive Officer. The company has made tremendous success in the market and has grown to be worth over $500million.The company currently employs over 800 employees and has set up six valuation branches across the States.
The company has made a successful venture in the business. According to the director of marketing in the company Allison Sommer, the RealDeal plans to further their investment in in-store investment come this year. Investing in in-line stores will create and legitimize the online brands and reach a full market share in 2018.
The company had initially held a pop up the party in New York City in 2016 made a whopping $2 million in just a single day. It was during the Pop up that the company commissioned its SoHo location. It was one of the most successful pop-ups, and it motivated the group to continue with the same trend in the coming years. The company will be launching its other retail in most parts of the country using pop-ups to entice and receive a broader customer market. Sommer has argued out that the average order is higher in the store than in the online platform. According to Sommer, once somebody enters the shop, he/she is motivated by the cool features as they analyze the different values of the brand and hence get motivated to acquire it.
The company has big plans for the entire 2018, having had the successful closing of 2017 with the pop up in San Francisco. The San Francisco was a turning point in the marketing strategy of its products. RealReal has now made over 500% over the increase in the sells. RealReal is, therefore, planning on making a big pop up in newer locations. Some of the places that have been identified for 2018 include Las Vegas.
The RealReal company is planning to introduce the pop-ups to many major towns in 2018. They want the residents of other cities to enjoy and feel part of the significant trend that has been widely successful in other critical cities including Los Angeles and New York.
Find out more about TheRealReal: https://digiday.com/marketing/realreal-2018-will-year-pop/