The RealReal Provides Monthly Business Update
November 04 2021 - 4:10PM
The RealReal (Nasdaq: REAL)—the world’s largest online marketplace
for authenticated, resale luxury goods—today provided a business
update. October gross merchandise value (GMV) was approximately
$137 million, an increase of 45% and 38% compared to the same
periods in 2020 and 2019, respectively.
October average order value (AOV) was approximately $491, an
increase of 13% and 7% compared to the same periods in 2020 and
2019, respectively. Watches, Men’s, and Women’s Apparel were the
fastest growing categories in October.
The RealReal believes that disclosing monthly GMV and AOV will
provide additional transparency regarding the effects of the
COVID-19 pandemic on its business. Consistent with SEC guidance
regarding the impacts of the COVID-19 pandemic, the company intends
to provide monthly GMV and AOV through the end of 2021.
The following table represents GMV and AOV growth rates for
August, September and October 2021, 2020 and 2019:
|
2021 vs. 2020 |
|
2021 vs. 2019 |
|
August |
|
September |
|
October |
|
August |
|
September |
|
October |
GMV |
50 |
% |
|
44 |
% |
|
45 |
% |
|
41 |
% |
|
44 |
% |
|
38 |
% |
AOV |
6 |
% |
|
9 |
% |
|
13 |
% |
|
8 |
% |
|
10 |
% |
|
7 |
% |
The information in this press release reflects preliminary
information available as of the date of this release.
About The RealReal, Inc.The RealReal is the
world’s 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—including women's and men's
fashion, fine jewelry and watches, art and home—in 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 18 retail locations, including our 15 shoppable
stores, customers can sell, meet with our experts and receive free
valuations.
Investor Relations Contact:Caitlin HoweVice
President, Investor RelationsIR@TheRealReal.com
Press Contact:Erin SantyHead of
Communicationspr@therealreal.com
Forward Looking StatementsThis press release
contains forward-looking statements relating to, among other
things, the future performance of The RealReal that are based on
the company’s current expectations, forecasts and assumptions and
involve risks and uncertainties. In some cases, you can identify
forward-looking statements by terminology such as “may,” “will,”
“should,” “could,” “expect,” “plan,” anticipate,” “believe,”
“estimate,” “predict,” “intend,” “potential,” “continue,” “ongoing”
or the negative of these terms or other comparable terminology.
These statements include, but are not limited to, statements about
future operating results, including the amounts of our operating
expense and capital expenditure reductions and our strategies,
plans, commitments, objectives and goals, in particular in the
context of the impacts of the COVID-19 pandemic and the recent
social unrest. Actual results could differ materially from those
predicted or implied and reported results should not be considered
as an indication of future performance. Other factors that could
cause or contribute to such differences include, but are not
limited to, the impact of the COVID-19 pandemic on our operations,
any failure to generate a supply of consigned goods, pricing
pressure on the consignment market resulting from discounting in
the market for new goods, failure to efficiently and effectively
operate our merchandising and fulfillment operations and other
reasons.
More information about factors that could affect the company’s
operating results is included under the captions “Risk Factors” and
“Management’s Discussion and Analysis of Financial Condition and
Results of Operations” in the company’s most recent Annual Report
on Form 10-K and subsequent quarterly reports on Form 10-Q, copies
of which may be obtained by visiting the company’s Investor
Relations website at https://investor.therealreal.com or the
SEC’s website at www.sec.gov. Undue reliance should not be placed
on the forward-looking statements in this press release, which are
based on information available to the company on the date hereof.
The company assumes no obligation to update such statements.
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