The RealReal, Inc. is an online and brick-and-mortar marketplace for authenticated luxury consignment. Based on the circular economy, The RealReal sells consigned clothing, fine jewelry, watches, fine art and home decor. In terms of Fogg’s model, the basic idea that TRR offers luxury items, in various conditions, at a lower price, is a big motivation for people to participate in the luxury item experience. The discount for first time buyers serves as an entry point incentive/motivation for consumers to purchase an item and build company loyalty.
Have your say!