The RealReal CEO on Luxury Consignment During the Pandemic

The transcript discusses the impact of COVID-19 on supply and demand, highlighting the challenges faced and the recovery signs observed. It emphasizes the role of neighborhood stores in boosting supply and the importance of physical stores in future growth. The discussion also covers consumer behavior trends, particularly in luxury goods, and outlines future plans, including international expansion and the continued relevance of neighborhood stores and virtual appointments.

What was a major challenge faced by the company during the COVID-19 pandemic?

• Increased demand for products

• Warehouse shutdowns in California

• Lack of online presence

• Excessive supply of products

How did the company adapt its supply strategy during the pandemic?

• By reducing product prices

• By expanding international operations

• By increasing online sales

• By introducing neighborhood stores

What was the primary reason for the lines outside the physical stores?

• Exclusive product launches

• Limited store hours

• High demand for new products

• COVID-19 restrictions limiting store capacity

What is the company's outlook on demand for luxury items post-pandemic?

• Demand will decrease significantly

• Demand will remain stable

• Demand will increase as restrictions ease

• Demand will shift to online platforms

Which category saw increased investment during the COVID-19 pandemic?

• Electronics

• Handbags, fine jewelry, and watches

• Apparel

• Home goods

What future expansion plans does the company have?

• Focusing solely on online sales

• Reducing the number of physical stores

• Expanding internationally

• Opening more flagship stores

What partnership is mentioned as part of the company's strategy?

• Partnership with Amazon

• Partnership with Walmart

• Partnership with Gucci

• Partnership with Apple