MARKETING MIX

The RealReal is a consignment re-sale store that sells a wide range of curated luxury products - both used and unused. Products such as clothing, beauty, accessories, jewellery, kid’s items, home decor items and furniture can be found on their online store as well as on-site locations. It appeals to both consumers who want a way to sell their belongings and consumers who want to purchase rigorously vetted second-hand pieces.

Place

All items are displayed on the website and can be sold through there. A link can be accessed from their social media pages so consumers have instant access to it, wherever they are. They also have 14 store locations around the US where purchases can be made from that specific stores, however all items are placed on the website anyways. Several of their stores also have cafes in store, which aides in creating an elevated experience for the customer as well as a greater sense of community.

Promotion

The RealReal has an Influencer Program to help facilitate brand deals with Social Media Influencer. Their podcast, Circle of Influence, in collaboration with CFDA, Council of Fashion Designers of America, promotes the brand in the sustainability sector, as well as within the fashion industry and their partnerships with brands for their ReCollection 01 - where they transformed clothing from different well-known fashion houses into new, one-of-a-kind luxury pieces - has aligned them with well established luxury brands such as Burberry, Stella McCartney and Gucci. TRR also advertises in digital, print and national TV. TRR is very innovative with their promotion as they also partner with organisations outside of the fashion sector, such as the Ellen Macarthur Foundation and One Tree Planted.

Price

The prices of re-sale items on TRR are lower than that of retail prices for the items and a clear distinction is made; estimated retail prices of the items are listed alongside TRR price and the difference is clear. For example, a Hermes 2020 Birkin that would retail for $23,000.00 but is selling on the TRR website for $19,550.00 (per the site). Similarly, a Chanel Classic Medium Double Flap Bag is listed for $5,415.00 whereas the estimated retail price is $6,800.00.TRR has Various Sales throughout the year, as well as deals with consigners where they receive discounts or store credit for items they sell.