Industry - Luxury
The RealReal, a leader in luxury consignment, offers a large selection of pre-owned, authenticated luxury items. Visitors can shop for luxury fashion, fine jewelry, watches and fine art, while consignors, who sell pieces from iconic brands such as Chanel, Hermès, Louis Vuitton, earn 60-70 percent of the sale price.
The RealReal was testing before they came to Blue Acorn, but they came to Blue Acorn to execute larger more experimental tests. While the site enjoys millions of unique visitors each month, The RealReal wanted to increase its overall revenue by increasing revenue per visitor (RPV) for specific customer segments. Together with Blue Acorn, the RealReal team set out to test various promotional offers to find those that resonated the most. Because the site is gated, they also were looking for help in optimizing on-site messaging to inform users of promotional offers and value propositions of shopping with them. The RealReal uses Optimizely, which is a good fit for them because it is highly malleable and Blue Acorn can use custom code to serve targeted messaging or experiences to certain user segments based on the information available in The Real Real's front end data layer.
Most of the tests we conducted for The RealReal were focused on surfacing promotional messaging or offerings to specific user segments. We have worked with them to create a variety of banners to display different types of promotional throughout different areas of the shopping funnel on their site. In one test, Blue Acorn hypothesize that some users did not initially realize that they had to log in to make a purchase. Neither did they realize that with their registration they could receive $25-50 in site credit. In an effort to drive account registrations and revenue, Blue Acorn implemented a banner advertising this offering on product detail pages for new, logged out users. The variation generated an 18% increase in Add to Cart rate, 45% increase in checkout success, a 65% increase in account sign-ups, and a 300% increase in revenue per visitor during a $50 credit promotional period.
VALUABLE SURPRISE LEARNINGS
We ran into a surprise in a recent test where the objective was to drive more traffic to their consignment landing pages. We included a footer banner on the category pages that had a link to the consignment landing page. While we did increase traffic to that page, the results reported significant decreases in conversion rate and revenue, so the test was stopped.
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