The RealReal Second-Hand Market has made public the updated terms and conditions and provided an update on its activities in accordance with the SEC’s disclosure guidelines regarding the ongoing COVID-19 pandemic.
The online marketplace The RealReal continued to resume operations in November, as evidenced by the record number of new and repeat buyers, an increase of approximately 10% per annum in order volume during the five-day vacation period, and an increase of approximately 3% per annum in order volume.
Last October, The RealReal announced its partnership with luxury goods giant Gucci. Its relationship with luxury houses, such as Stella McCartney two years ago, where Burberry last year showcased the online sales site.
These underlying improving trends were partially offset by supply headwinds in the fine jewelry and watches category, which negatively impacted the category’s gross merchandise mix and average selling prices in November. As a result of the change in category mix, November GVW decreased by approximately 3% year-on-year, an improvement from the 5% year-on-year decline in October. For the 5-day vacation weekend, HHV decreased by approximately 2% year-on-year.
In November, there were a number of highlights for the retailer The RealReal. New buyers reached a monthly record and increased by approximately 24% compared to the previous year. The supply units of the retail and luxury consignment offices continued and accelerated their growth to approximately 51% year-on-year, compared to 48% in October.
In addition, vendor supply units increased approximately 121% over the previous year; and units in Palo Alto stores shipped in its first 10 days exceeded those in New York City‘s Madison Avenue stores shipped in its first 10 days.
“We continue to make progress in our business recovery and are particularly pleased with the record number of new and repeat buyers in November, the 24% year-over-year growth in new buyers in November and the momentum in order volume during the vacation shopping weekend,” said Julie Wainwright, founder, and CEO of The RealReal.
The market environment remains very fluid, and The RealReal will continue to closely monitor the evolution of the COVID-19 pandemic, federal and local operating restrictions, and changes in shipper and buyer activity on its platform. The company expects to continue to adjust its operating plans, and its actual results could differ materially from those presented in this press release.
Featured Photo : © The RealReal
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