The RealReal is an online designer consignment company founded by Julie Wainwright in 2011. Before starting The RealReal she previously worked in the tech field and was the Chief Executive Officer of Pets.com and therefore making it easy for Wainwright to market her company. Wainwright noticed that buying second-hand designer items has become a popular trend and she chose to act on it. The RealReal is based out of San Francisco, California and employs over 800 people. Most of the company’s products are sold for over $1,200 per item although they do have items that fall in the lower hundred price range. If the company continues its success rate in sales they will receive over $500 million in revenue before years end. Being that buying second-hand luxury item has increased in popularity, The RealReal has a lot of online competitors. This company gives fashionista the ability to shop at bargain prices.
Julie Wainwright opened her first story in the SoHo neighborhoods of New York City and she hopes to continue to open stores around the United States in the future. Courtney Applebaum designed Julie Wainwright’s first store providing a comfortable environment for customers to wait for appraisals as well as browse the merchandise. The store set up allows wainwright to optimize her space but still provide a unique shopping experience for customers. To make sure that all mechanize is authentic Wainwright has one employee who oversees all incoming items and she/he is responsible for inspecting all items personally making sure that everything is indeed a true luxury item.
Julie Wainwright’s online merchandise is the same as what is sold in her physical store in New York City and therefore she has created a sophisticated system to make sure all customers can shop with ease. If a shopper picks up an item in the store an employee is responsible for marking the item as unavailable online until the item gets placed back on the floor. If the item is purchased online an employee quickly removes the item from the floor in the store. This allows for both online and in person shoppers to have a positive shopping experience and knowledge that the items they want will still be available by the time they check out. This is extremely beneficial for online shopper because they will be able to see what is unavailable to them in a timely fashion. What customers enjoy is that they are able to view the items in person and see the actual condition of an item, which is hard to tell in a picture. Julie Wainwright took her amazing merchandising skills and created a wonder profitable online and in-store business.