Yesenia Estrada | FASM 430 | Professor Knaus
Table of Contents COMPANY OVERVIEW
About Company Profile Customer Profile
MARKET ANALYSIS
Current Market Key Competitors SWOT Analysis
CONCEPT Design Planning Assortment
PROMOTIONAL PLAN
COMPANY OVERVIEW
ABOUT The RealReal is a site that sells pre-owned luxury products that focuses on authenticated, high-end resale items for women, men and home. It was founded by Julie Wainwright in San Francisco in 2011 and has since become the leader in authenticated luxury consignment. A large supporter of the circular economy, The RealReal stands to extend the life cycle of luxury items.
HOW IT WORKS CHOOSE WHAT TO CONSIGN
PICK YOUR METHOD
LET THE EXPERTS DO ALL THE WORK
GET PAID
6 M+
5 M+
MEMBERS WORLDWIDE
ITEMS SOLD
950
40+
EMPLOYEES
CITIES
With in-home Pickup service
With in-home Pickup service
173 M
FUNDING
COMPANY OVERVIEW
CUSTOMER PROFILE Circular-conscious Brand Focused Age Range: 23-Mid 40s Biggest Cohort: Gen-Z (22 & younger)
“My consigners are your buyers...the same ones that cosign, take that money and buy new luxury items because they know of their high resale value”
- Julie Wainwright
MARKET ANALYSIS
CURRENT MARKET
Resale is growing
+ 49%
24x
faster than retail
+ 9%
Resale Distributors
Traditional Resale
+ 7%
Off-Price Retail
+ 2%
All Apparel Retail
20%
Media & Electronics
49%
Apparel (Clothes, Shoes & Accessories)
$20B
13%
Books
Current size of resale apparel market
11%
Housewares & Furniture
8%
Other
PERCEPTUAL MAP
KEY COMPETITORS
- All brand tiers - Managed marketplace - $130M in funding
- Luxury brands only - Managed marketplace - $173M in funding
- All brand tiers - Peer-to-peer marketplace - $153M in funding
BRAND IDENTITY
S SWOT ANALYSIS
Authenticated-backed luxury goods Inherently sustainable Easy consignment process
W O T
Consignment limitations Minimal physical presence Possible counterfeit issues
Brick & Mortar expansion Collaborations w/ luxury brands
Growing competition Limited deal between consigner & consignee Decrease of secondhand shopping
CONCEPT
In honor of The RealReal’s recent opening of its New York store, The RealReal is hitting the road on the “Circular Fashion Tour.” Stopping at various cities across the country, visitors are not only invited to shop the carefully curated truck, but are also highly encouraged to bring in and drop off their own unwanted luxury goods for a chance at a gift card that can be used at any of The RealReal’s locale. Unlike the traditional “pop-up,” The RealReal Road Trip will feature a pair of luxury experts who will educate visitors on the benefits of luxury care and consignment.
ENHANCE Brand Awareness
EDUCATE
Luxury Life Cycle
ENCOURAGE Consignment
DESIGN
PLANNING
OPERATIONAL PLAN Truck ............................................................. $6,500.00 Fixtures ......................................................... $1,900.00 Build-Out ...................................................... $1,200.00 Tech ............................................................... $975.00 Maintanance................................................. $1,700.00 Personnel ......................................................$2,700.00 Total
$14,975.00
Traveling around the nation, The RealReal Roadtrip will stop at 13 cities beginning April 12, 2019
ASSORTMENT As there is only one of each item, the integration between their point-of-sale and order management system is intricate. Though the truck’s personnel is equipped with tablets for mobile point-of-sale and task management, the experience is driven by the experts themselves.
PROMOTIONAL PLANNING
PRE LAUNCH
LAUNCH
POST LAUNCH
Snapchat
Influencers
Throughout this promotional plan, images from the tour will be used on every social platform. A new hashtag will be used for this tour, #TheRealRealRoadtrip along with#NeverThrowAway to help spread awareness and news.
WORKS CITED About. The RealReal.com. N.p., n.d. Web. 17 April 2018 Resale. Thredup.com. N.p., n.d. Web. 17 April 2018 “Fashion Retailers Have to Adapt to Deal with Secondhand Clothes Online. Forbes. Web 17 April 2018 “Buyers Guide: The RealReal Vs. Thredup. Lunawei.com. N.p., n.d. Web. 18 April 2018 “The RealReal Luxury Shopping Funding.” Racked.com. N.p., n.d. Web. 23 April 2018 Images: Pinterest.com