5-8 pct of total handsets sold in India returned and then sold as unboxed
New Delhi, June 6 : Business dynamics is rapidly changing today, whether they are specialty products, luxury goods or daily consumer goods-the ways they are sold and purchased are undergoing rapid metamorphosis.
The latest growing craze in the market is refurbished factory seconds-products, including electronics, IT products, telecom gadgets and others. India is a rising market power with vast untapped potential and the refurbished market here has a great potential for the coming years.
Refurbished goods are a great way to meet aspirational value without paying too much. Demand for refurbished and unboxed electronics products in the country is rising, driven majorly by buyers from tier II and III cities looking for a good bargain, finds a ShopClues survey.
According to the survey, 70 percent of the demand for used or unboxed mobiles, tablets and laptops now comes from these smaller cities, such as Hisar and Nashik. The survey also found that as many as two-thirds of the buyers in these cities were willing to pay upfront while ordering.
But the companies are witnessing a rise in demand from metros, too. On an average, the ratio, today, would be 40 percent from top metros and 60 percent from the remaining cities.
One of the biggest players today and first movers in the country operating since 2005 in refurbished and Unboxed phones is Rocking Deals whose CEO Yuvraj Aman Singh shares some more light on the industry.
“We know everyone is looking for a deal and yes India has the maximum youngsters in the country, In tier II and II towns youngsters don’t keep phones for years and prefer using the latest technology and swap to a newer better product. We feel in that stage when the whole lifecycle of a device is five to six months we must be able to give newer and better products to our customers and make them our lifetime customers,” said Yuvraj Aman Singh.
“As ecommerce is here to stay and has taken over the world the returns would always be coming. Selling the same with Authenticity and commitment of a long term lifecycle, we try our level best to keep the customers happy. Five to eight percent returns of the total handsets sold in India makes the business a multimillion dollar rotational business and upgrading our customers multiplies the turnovers many folds,” added Yuvraj Aman Singh.
“If by not having a brand seal on the product makes you save 30-50 percent with the brand warranty users see it as a great deal. Currently we are selling through Amazon India, Ebay,Snapdeal, Shopclues, Quikr, Junglee and Zopper.
Being the largest suppliers and having a quality and stock commitments, Rocking Deals commands the market. More and more people are getting to know the concept of the unboxed phones and more than advertisement word of mouth helps,” concludes Singh.