Neiman Marcus offers gift cards in exchange for consignment

Neiman Marcus has partnered with online consignment store The RealReal to encourage customers to shop at Neiman Marcus, and then earn gift cards by selling used apparel through The RealReal.

The RealReal, which buys and sells preowned luxury apparel and accessories. tested a luxury gift card exchange in six Neiman Marcus stores earlier this year, Dallas News reported. Now Neiman Marcus is offering gift cards to all shoppers who frequently consign on The RealReal.

"After seeing the increased demand for this service since its pilot program launched in February, we recognized the benefit of offering the service to our customers across the country," Wanda Gierhart, chief marketing officer at Neiman Marcus, told Dallas News.

Promotion for the program is being advertised to customers through Neiman Marcus sales associates. These associates also help shoppers set up appointments with The RealReal managers, who provide pickup service for the items to be sold. In return, customers will get Neiman Marcus gift cards, which pay 10 percent more than a cash payout.

Neiman Marcus is the first retailer to partner with The RealReal. The consignment store said that 40 percent of its customers are interested in receiving gift cards as a form of payment.

Luxury consignment stores are growing in consumer popularity and investors have taken notice. The RealReal has raised more than $40 million to expand its business. Other players in the retail consignment game include Couture Within Reach, which launched a website last fall; Pose, which recently unveiled a new feature of its Web and app-based digital photo sharing service; and eDrop-Off, which recently announced the opening of its first retail store in Chicago.

For more:
-See this Dallas News article

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