The RealReal Focuses on New Initiatives in 2023 to Improve Consignor Experience
January 05 2023 - 12:02PM
Heading into 2023, The RealReal – the world’s largest online
marketplace for authenticated, resale luxury goods – intends to
double down on its efforts to ensure an unparalleled luxury
consignment experience to its millions of members. Building on key
initiatives started in Q4 2022, the company will continue to focus
on its new consignor concierge service, and an enhanced loyalty
program, and its data insights center offering in the coming year.
“Since our founding, we’ve been committed to,
and have invested heavily in, making the luxury consignment
experience seamless and frictionless. We became the first and only
full-service luxury resale marketplace that does all the heavy
lifting for our sellers and shoppers, we have always helped our
consignors earn more than any other secondhand marketplace. These
new areas of investment will help us deliver an elevated, luxury
resale experience,” explains Rati Sahi Levesque, Co-CEO and
President of The RealReal.
Updates to look forward to in
2023:
- TRR’s Consignor Concierge Service: To better connect with its
consignors to the experts working to authenticate, price and
promote each and every item, every consignor will have a dedicated
Consignment Concierge who they’ll have access to via text, email or
phone call. The Consignment Concierge is made up of four luxury
managers who will support a consignor, no matter the item value or
brand, and will remain the consignors’ point-of-contact for as long
as the member consigns with TRR.
- New Loyalty Program: The company gave its loyalty program a
complete overhaul to provide consignors with a clearer
understanding of what they’ll earn and when, as well as enhance
incentives across each tier.
- Pricing Transparency through TRR’s Data Insights Center: The
RealReal’s pricing algorithm uses data from its 28M+ items sold to
date, current market and economic trends, and looks at sales
velocity to determine the best price for each item listed. The
company has piloted its data insights center for consignors to get
an understanding of how we determine pricing for their
item(s).
To learn more about these changes or for more information on how
to shop or sell with The RealReal, please visit
www.therealreal.com.
About The RealReal Inc.The
RealReal is the world’s largest online marketplace for
authenticated, resale luxury goods, with more than 30 million
members. With a rigorous authentication process overseen by
experts, The RealReal provides a safe and reliable platform for
consumers to buy and sell their luxury items. We have hundreds of
in-house gemologists, horologists and brand authenticators who
inspect thousands of items each day. As a sustainable company, we
give new life to pieces by thousands of brands across numerous
categories—including women’s and men’s fashion, fine jewelry and
watches, art and home—in support of the circular economy. We make
selling effortless with free virtual appointments, in-home pickup,
drop-off and direct shipping. We do all of the work for consignors,
including authenticating, using AI and machine learning to
determine optimal pricing, photographing and listing their items,
as well as handling shipping and customer service. At our 19 retail
locations, including our 16 shoppable stores, customers can sell,
meet with our experts and receive free valuations.
Press Contact:
PR@therealreal.com
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