The RealReal Provides Monthly Business Update
December 02 2021 - 9:10AM
The RealReal (Nasdaq: REAL)—the world’s largest online marketplace
for authenticated, resale luxury goods—today provided a business
update. November gross merchandise value (GMV) was approximately
$146 million, an increase of 51% and 46% compared to the same
periods in 2020 and 2019, respectively.
The RealReal’s strong GMV growth in November was driven in part
by Black Friday through Cyber Monday with 49% GMV growth
year-over-year during the four-day period. Of note, Black Friday
2021 was the company’s largest single day of GMV ever
transacted.
November average order value (AOV) was approximately $514, an
increase of 17% and 10% compared to the same periods in 2020 and
2019, respectively. Watches, Men’s, and Women’s Handbags were the
fastest growing categories in November.
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
September, October and November 2021, 2020 and 2019:
|
2021 vs. 2020 |
|
2021 vs. 2019 |
|
|
September |
|
October |
|
November |
|
|
September |
|
October |
|
November |
GMV |
|
44 |
% |
|
45 |
% |
|
51 |
% |
|
|
44 |
% |
|
38 |
% |
|
46 |
% |
AOV |
|
9 |
% |
|
13 |
% |
|
17 |
% |
|
|
10 |
% |
|
7 |
% |
|
10 |
% |
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 24 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 Statements
This 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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