SAN FRANCISCO, Aug. 24, 2022 (GLOBE NEWSWIRE) -- The RealReal (Nasdaq: REAL) — the world’s largest online marketplace for authenticated, resale luxury goods — today released its 2022 Luxury Resale Report. The annual report is powered by data derived from The RealReal’s more than 28 million members and more than 26 million items sold to date. This year, The RealReal not only charts the shifts in customer behavior and spending habits, but reveals the emotional and environmental impact of resale, especially during the current economic uncertainty.
“In a world that’s currently filled with the unknown and the unexpected, consumers are finding escapism with the reliability and discoverability of the secondhand market,” explains Rati Sahi Levesque, Co-Interim Chief Executive Officer, President, and Chief Operating Officer of The RealReal. “Between primary market supply constraints, inflation woes, and the acceleration of the climate crisis, shoppers and consignors alike are seeing the economic, environmental, and emotional value of resale. Through resale, consumers are becoming increasingly savvy, they're exploring new areas of investments, and they’re engaging with circularity more than ever before.”
Consumer behavior has always been evolving but, in the past year specifically, the way customers shop and engage with resale has shifted significantly. They are increasingly mindful of how and where they spend their time, money and energy, they’re drawn to the thrill of the hunt, enjoying endless scrolling and filtering options, and they’re pushing stylistic boundaries and experimenting with self-expression.
Top Themes Explored inThe RealReal’s 2022 Luxury Resale Report:
Awareness of Resale Is Up:
Engagement with Resale Deepens:
Every Demo Continues to Buy and Sell:
Shoppers are Exploring Additional Areas of Investments:
Reemerging Styles Rise to the Top
To view the full breakdown of The RealReal’s 2022 Luxury Resale Report, visit TheRealReal.com.
About The RealReal Inc.
The RealReal is the world’s largest online marketplace for authenticated, resale luxury goods, with more than 28 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:Laura Hogyapr@therealreal.com
Source: The RealReal