In late December of 2016 The RealReal, a consignment luxury clothing brand distribution company, collectively made the impactful decision of birthing the first among many of their physical in store locations to engage with clients in person. Taking up on their fortunate success as a consignment startup and breaking the cyber walls of their internet business, they made their very first cemented establishment located in the very heart of Soho, New York. Due to the success of this, Julie Wainwright founder and CEO, was delighted and sought to proceed in the footsteps of this currently leading pop up retail business. The RealReal reaches out to seek more clients in continuing physical pop up locations in cities such as Las Vegas, Los Angeles, and many more down the line.
What is Pop Up retailing?
Pop up reatiling, or otherwise known as flash retailing, is a marketing strategy which allows for a store or chain retail to open, or “pop up” temporarily in their own physical space and soon after be concluded within either the next day, week, month or so on. The main idea is for them not to last long, which can pull in customers eager or curious to try and get a deal in their stores before their awaited end.
The RealReal has also fallen into trend by favoring to take up on this strategy, hoping to pull in even newer customers of their very own. Already a relatively successful consignment start-up, they’ve outlasted their competitors and have earned a revenue of over 173 million dollars within the past year. This could be seen as the culmination of success for the future of their company, for it is estimated that they will earn even more within next years, with as much as 500 million dollars in gross annual income.