Founded in 2011, The RealReal is tapping into growing consumer interest in obtaining second-hand goods, positioning itself in the luxury niche. The company says it provides the largest selection of pre-owned authenticated luxury items including women’s and men’s fashion, fine jewelry, watches, fine art and home; consignors earn up to 70% of the sale price.
While many U.S. full-price retailers (particularly department stores) are experiencing soft consumer demand, the “re-commerce sector” is thriving, and online resale in particular is one of the fastest-growing sectors in retail, according to a report last year from Coresight Research (formerly Fung Global Retail & Technology).
