The RealReal Business and Resale Concepts

The RealReal Business and Resale Concepts

Assessment

Interactive Video

Business, Design, Arts, Journalism

9th - 12th Grade

Hard

Created by

Lucas Foster

FREE Resource

The RealReal is a luxury consignment company revolutionizing resale by offering a platform for consigning high-end items. The company emphasizes authenticity, with a robust process to ensure genuine products. Despite legal challenges from brands like Chanel, The RealReal continues to thrive, highlighting the importance of brand value and market trends. The video also explores personal stories, such as Erin Hazleton's consignment journey, reflecting on the emotional and financial aspects of luxury resale.

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary business model of The RealReal?

Consigning and reselling luxury items

Manufacturing luxury goods

Designing fashion collections

Operating luxury hotels

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How can consignors send their items to The RealReal?

Through online submission

By shipping, dropping off, or home pickup

Only by visiting a retail store

By attending a fashion show

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What factor does Gavin Waters suggest affects the resale value of fashion items?

The original purchase location

The color of the item

The brand and current trends

The age of the item

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What emotional aspect does Erin Hazleton consider when consigning her items?

The original price

The memories associated with the items

The designer's reputation

The item's color

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What benefit does Erin Hazleton receive from her VIP status with The RealReal?

Exclusive access to new collections

A higher return percentage on sales

Free shipping on all items

Personal styling services

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a key component of The RealReal's business strategy?

Hosting luxury fashion shows

Providing free fashion advice

Guaranteeing 100% authenticity

Offering discounts on new items

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What controversy has The RealReal faced regarding its authentication process?

Claims of selling counterfeit items

Accusations of overpricing

Problems with shipping delays

Issues with customer service

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