The RealReal (REAL) Stock Forecast & Price Target

The RealReal is projected to achieve $1.8 billion in gross merchandise volume in 2024, establishing itself as the largest pure-play luxury resale platform in the United States. The company's effective hands-on approach to inventory sourcing and item authentication enables it to maintain a high take rate of approximately 36% of net merchandise value. As investor confidence in the company's supply-driven strategy grows, expectations for sustained positive EBITDA are likely to result in expanded valuation multiples.

The RealReal's 2025 sales projections indicate a potential decline of 15%-20% from current estimates, reflecting concerns about market demand and competition. Additionally, competitors like Vestiaire Collective, Rebag, and Fashionphile operate with significantly lower take rates, ranging from 4%-7%, which may attract cost-conscious consumers away from The RealReal. This trend could exacerbate market share losses, particularly as customer interest in pre-authenticated resale models wanes.