{"id":537982,"date":"2021-09-14T09:03:32","date_gmt":"2021-09-14T13:03:32","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/the-realreal-releases-luxury-shopper-insights-study\/"},"modified":"2021-09-14T09:03:32","modified_gmt":"2021-09-14T13:03:32","slug":"the-realreal-releases-luxury-shopper-insights-study","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/the-realreal-releases-luxury-shopper-insights-study\/","title":{"rendered":"The RealReal Releases Luxury Shopper Insights Study"},"content":{"rendered":"<h2>\nLuxury buying patterns have changed dramatically; Leaders emerge in expanding resale market<br \/>\n<\/h2>\n<div class=\"mw_release\">\n<p align=\"justify\">SAN FRANCISCO, Sept.  14, 2021  (GLOBE NEWSWIRE) &#8212; <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=DDBOLN9ldHLE29qFt-16a-Lxg9Y1JdHcZgrDZu-yg0CTAReBAtlWuAWhHnOGsIwpy_v6bYUMk5B11Csmn8vZ7w==\" rel=\"nofollow noopener\" target=\"_blank\"><u>The RealReal<\/u><\/a> (Nasdaq: REAL)\u2014the world\u2019s largest online marketplace for authenticated, resale luxury goods\u2014today released findings from its latest Luxury Shopper Insights Study. Based on national research led by Lisa W. Miller &amp; Associates Research, the 2021 study uncovers and identifies key behavioral shifts among luxury shoppers and their impact on retail and resale.<\/p>\n<p align=\"justify\">\u201cAs the luxury resale market continues to evolve, its growth is significantly outpacing the primary market,\u201d said The RealReal Chief Marketing Officer Orr Shakked. \u201cThere is a distinct divide in resale, with just five marketplaces, including The RealReal, having meaningful aided awareness. In fact, The RealReal has seen a 14 point awareness increase since 2019, a more than 50 percent greater increase than any of the other 24 resale brands researched.\u201d<\/p>\n<p align=\"justify\">\n        <strong>Luxury buying patterns have changed dramatically<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">Outlets and department stores saw the greatest declines in luxury purchases, down -10 pts and -7 pts since 2019<\/li>\n<li style=\"margin-bottom:12pt;text-align:justify\">Luxury resale has attracted more new buyers since 2019 than all previous years combined<\/li>\n<\/ul>\n<p align=\"justify\">\n        <strong>Male shoppers represent the greatest luxury growth opportunity<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">Men are ~3X more likely to exclusively buy luxury<\/li>\n<li style=\"margin-bottom:12pt;text-align:justify\">Men are 1.5X more likely to constantly clean out their closets<\/li>\n<\/ul>\n<p align=\"justify\">\n        <strong>Awareness drives major divide among resale marketplaces<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">Among 24 resale players researched, only these five have aided awareness above 30%: eBay, Poshmark, thredUP, The RealReal and Sotheby\u2019s<\/li>\n<\/ul>\n<p align=\"justify\">\n        <strong>Nearly half of luxury shoppers plan to buy luxury resale<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">48% of luxury shoppers are very or extremely likely to purchase luxury resale over the next two years (+6 pts since 2019)<\/li>\n<li style=\"text-align:justify\">Resale purchase intent is up across every luxury category, most notably jewelry and watches (+13 pts and +12 pts since 2019)<\/li>\n<\/ul>\n<p align=\"justify\">\n        <strong>In evolving market, customer experience is critical to adoption<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">While The RealReal\u2019s NPS improved, many other players declined, indicating the need for improvement to continue market expansion<\/li>\n<\/ul>\n<p align=\"justify\">\u201cResale has seen record growth over the past two years, but only 24 percent of luxury shoppers currently purchase pre-owned pieces. Bringing more new shoppers and consignors into the circular economy is essential to creating a more sustainable future for fashion,\u201d stated Julie Wainwright, founder and CEO of The RealReal. \u201cWe\u2019ve seen a 13 percent increase over the past two years in The RealReal shoppers citing sustainability as a deciding factor to purchase from us. It\u2019s critical we continue raising awareness of the negative environmental impact of fashion and resale as a solution every one of us can adopt to help reduce the garbage truck\u2019s worth of textiles that are landfilled or burned every second.\u201d<\/p>\n<p align=\"justify\">To view The RealReal\u2019s 2021 Luxury Shopper Insights Study, please visit <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=z4KjsCmXlK_uTt9Cnsf3ijA470aFOJX34iwwsXJMiTdfEru_Y2DxGouN3j6Q8jHwkxYtF6-OQVa-d1X8siRBUc0RgUAkDmTW8GQH8H3WMl0ur_LbmZjeQoWhPhyIvkBPMzICcLaFMWuumePlu7AVu5zWxpqeayXSWfClDoxkc0uvhp2NgS1xOsafHvBStEisIs4jdV7bAq892pK29jjiTg==\" rel=\"nofollow noopener\" target=\"_blank\">www.therealreal.com\/trr\/2021-Luxury-Shopper-Insights-Study<\/a>.<\/p>\n<p align=\"justify\">\n        <strong>About The RealReal Inc.<\/strong><br \/>\n        <br \/>The RealReal is the world\u2019s largest online marketplace for authenticated, resale luxury goods, with more than 23 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\u2014including women&#8217;s and men&#8217;s fashion, fine jewelry and watches, art and home\u2014in 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 17 retail locations, including our 14 shoppable stores, customers can sell, meet with our experts and receive free valuations.<\/p>\n<p align=\"justify\">Press Contact:<br \/>Erin Santy<br \/>pr@therealreal.com<\/p>\n<\/p>\n<p>      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODMyNTE4OCM0NDAzMjg0IzIxODM4NjM=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/NDRiYzUzNjQtNmNhMi00YzlhLWI0MGEtMjQyMTRjOGIyNWQ4LTExOTU0MjE=\/tiny\/The-RealReal.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Luxury buying patterns have changed dramatically; Leaders emerge in expanding resale market SAN FRANCISCO, Sept. 14, 2021 (GLOBE NEWSWIRE) &#8212; The RealReal (Nasdaq: REAL)\u2014the world\u2019s largest online marketplace for authenticated, resale luxury goods\u2014today released findings from its latest Luxury Shopper Insights Study. Based on national research led by Lisa W. Miller &amp; Associates Research, the 2021 study uncovers and identifies key behavioral shifts among luxury shoppers and their impact on retail and resale. \u201cAs the luxury resale market continues to evolve, its growth is significantly outpacing the primary market,\u201d said The RealReal Chief Marketing Officer Orr Shakked. \u201cThere is a distinct divide in resale, with just five marketplaces, including The RealReal, having meaningful aided awareness. In fact, The RealReal has &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/the-realreal-releases-luxury-shopper-insights-study\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;The RealReal Releases Luxury Shopper Insights Study&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-537982","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The RealReal Releases Luxury Shopper Insights Study - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/the-realreal-releases-luxury-shopper-insights-study\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The RealReal Releases Luxury Shopper Insights Study - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Luxury buying patterns have changed dramatically; Leaders emerge in expanding resale market SAN FRANCISCO, Sept. 14, 2021 (GLOBE NEWSWIRE) &#8212; The RealReal (Nasdaq: REAL)\u2014the world\u2019s largest online marketplace for authenticated, resale luxury goods\u2014today released findings from its latest Luxury Shopper Insights Study. Based on national research led by Lisa W. Miller &amp; Associates Research, the 2021 study uncovers and identifies key behavioral shifts among luxury shoppers and their impact on retail and resale. \u201cAs the luxury resale market continues to evolve, its growth is significantly outpacing the primary market,\u201d said The RealReal Chief Marketing Officer Orr Shakked. \u201cThere is a distinct divide in resale, with just five marketplaces, including The RealReal, having meaningful aided awareness. In fact, The RealReal has &hellip; Continue reading &quot;The RealReal Releases Luxury Shopper Insights Study&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/the-realreal-releases-luxury-shopper-insights-study\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-09-14T13:03:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODMyNTE4OCM0NDAzMjg0IzIxODM4NjM=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/the-realreal-releases-luxury-shopper-insights-study\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/the-realreal-releases-luxury-shopper-insights-study\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"The RealReal Releases Luxury Shopper Insights Study\",\"datePublished\":\"2021-09-14T13:03:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/the-realreal-releases-luxury-shopper-insights-study\\\/\"},\"wordCount\":616,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/the-realreal-releases-luxury-shopper-insights-study\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODMyNTE4OCM0NDAzMjg0IzIxODM4NjM=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/the-realreal-releases-luxury-shopper-insights-study\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/the-realreal-releases-luxury-shopper-insights-study\\\/\",\"name\":\"The RealReal Releases Luxury Shopper Insights Study - 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Based on national research led by Lisa W. Miller &amp; Associates Research, the 2021 study uncovers and identifies key behavioral shifts among luxury shoppers and their impact on retail and resale. \u201cAs the luxury resale market continues to evolve, its growth is significantly outpacing the primary market,\u201d said The RealReal Chief Marketing Officer Orr Shakked. \u201cThere is a distinct divide in resale, with just five marketplaces, including The RealReal, having meaningful aided awareness. 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