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Color image compression is a commonly used process to represent image data as few bits as possible, which removes redundancy in the data while maintaining an appropriate level of quality for the user. Color image compression algorithms based on quaternion are very common in recent years. In this paper, we propose a color image compression scheme, based on the real SVD, named real compression scheme. First, we form a new real rectangular matrix C according to the red, green and blue components of the original color image and perform the real SVD for C. Then we select several largest singular values and the corresponding vectors in the left and right unitary matrices to compress the color image. We compare the real compression scheme with quaternion compression scheme by performing quaternion SVD using the real structure-preserving algorithm. We compare the two schemes in terms of operation amount, assignment number, operation speed, PSNR and CR. The experimental results show that with the same numbers of selected singular values, the real compression scheme offers higher CR, much less operation time, but a little bit smaller PSNR than the quaternion compression scheme. When these two schemes have the same CR, the real compression scheme shows more prominent advantages both on the operation time and PSNR. [ABSTRACT FROM AUTHOR]