How Has Coronavirus Impacted Re-Commerce Businesses?
The RealReal
"The biggest thing we've changed with our business has been launching virtual appointments," a spokesperson for The RealReal told POPSUGAR. "Our stores and luxury consignment offices are temporarily closed, and we have suspended our in-home White Glove consignment service. Virtual appointments have been our way of continuing to offer a personalized consignment experience."
The spokesperson said that consignors can now book remote appointments with one of the company's experts for handbags, sneakers and streetwear, fine jewellery and watches, or home and art valuations. Customers can also make a virtual appointment with a luxury manager for consignment consultation. Appointments can be booked online through the consignment page, and all consignors can easily ship their items to The RealReal's e-commerce centres using a pre-paid shipping label.
Vestiaire Collective
"As a resale e-commerce business, we look at both sales and deposits," Vestiaire Collective's Co-Founder and President Fanny Moizant told POPSUGAR. "What we have seen is an increase in deposits coming from impacted markets over the previous few weeks. People are spending time at home, so they're getting around to clearing out their wardrobes. On the sales side, orders were initially decreasing, but again, as most of us are at home, we're seeing increased engagement on our app. There seems to be a particular interest in the accessible price points right now."
Fashionphile
"COVID-19 has had a significant impact on our business," Fashionphile President and Founder Sarah Davis told POPSUGAR. "Our entire operation is a white-glove service that requires operators receiving, authenticating, reviewing, photographing, storing, and shipping physical product. This isn't something that is possible during a full lock-down situation. That being said, this time has also given our work-from-home digital and tech teams an amazing opportunity to move forward on features that we've wanted for years, but have been a lower priority. We're taking advantage of this time and will be much stronger for it in the long run."