New York City retailers are finding innovative ways to stand out to consumers this holiday season. Many are experimenting with pop-up shops all over the city, so consumers can physically feel and see their products. The RealReal, an online luxury consignment shop, is one such retailer.
Background
The RealReal started in 2011 and is disrupting the luxury retail industry. The company prides itself on the authenticity of its products; its strict no-fake policy is only one of its many attributes that have contributed to its quick growth. It provides customers with detailed services and an at-home pick-up service for its sellers. The RealReal also increases the value of luxury items because there can now be a future for secondhand products.
The Pop-Up Shop
Source: Fung Global Retail & Technology. Photo credit: Victoria Babchak.
On December 1st, The RealReal opened its first-ever retail space in New York City, on Greene Street in the heart of SoHo. We visited the brick-and-mortar location on opening day and experienced the companies “above and beyond” attitude first hand. Smiling sales associates floated around the shop, available to answer any and all questions. The retail space is framed by vintage molding and brick walls, and is filled with clothes, shoes, bags, jewelry and even furniture. Consumers have a plethora of pieces to choose from; a sales associate was joking around and said “if it’s not nailed down, it’s for sale.”
The space is open to the public until December 15th, and has been marketed on The RealReal’s social media channels. This is a great year to experiment with a holiday pop-up shop because retail spending for the US holiday season is expected to increase by 3-4% compared to last year. The expected cooler temperatures may benefit The RealReal’s in-store traffic, too. Additionally, The National Retail Federation predicts a 3.6% increase in sales for the months of November and December, another benefit for the luxury consignment shop.
If you are interested in visiting the pop-up shop, head over to 79 Greene Street.
Source: Fung Global Retail & Technology. Photo credit: Victoria Babchak.
Other pieces you might find interesting: Merry and Bright Holiday Season for Retailers, DEEP DIVE: Holiday Shopping Themes 2016: the US and the UK, DEEP DIVE: Us Holiday Outlook 2016: Prospects For A Better Season
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