The refurbished products are different from the ones available on OLX and Quikr, where the products are neither repaired nor do they provide warranty. The refurbished items' list includes factory (seconds) to e-Commerce/retail returns and open box products, aside from only second-hand-and-repaired products.
For instance, across India, millions of users buy refurbished phones, believing they would rather use an old phone with the features they need than settle for a new phone with lower specs. Along with affordability, the shorter upgrade cycles of smartphones these days are also fueling a demand for used phones.
With regards to the above mentioned points, here are few players that aim at creating a dynamic marketplace where consumers can choose products with warranty and services attached:
HyperXchange - India's fastest growing O2O marketplace for premium refurb gadgets. Started in February 2016, the company is currently clocking revenue of Rs 25 crore a year. The Kolkata-based O2O startup is backed by Microsoft and IIM Calcutta and is looking to deep dive into refurbished products' market in India to carve out a niche market for itself. HyperXchange is aiming $280 million GMV in the next one year and launch its retail operations across 100 cities in next two years. The company is a featured startup at Collision(the biggest startup event in the world) in 2018. HyperXchange offers you with a lowest price guarantee, 12 months warranty and automated diagnostic & price offer.
Togofogo.com- It is an Online Marketplace for selling and buying Box Opened, Certified and Certified Used Mobiles & Tablets. At present, our industry is experiencing healthy competition and the existing companies have managed to inculcate interest amongst the buyers to invest into refurbished products as these products are also as good as new. All products sold on the website undergo a rigorous Quality Checking process and they provide extended warranty. And to make our life easier Togofogo has tied up with all leading Logistic service providers of India to ensure timely delivery of products in any part of India.
Surpluss.in- Funder in November 2014, Surpluss.in is an e-retailer of overstocked, excess inventory, unboxed (e-tailer returns), pre-owned and refurbished products, ranging from mobile phones and tablets to apparels and other consumer products. We are talking of at least 10 per cent to 15 per cent of all mobiles sold in the country to be of surplus value proposition. Of these, roughly 4 per cent to 5 per cent can be refurbished. We are talking of close to a billion US dollars' immediate opportunity in mobiles alone. Their motive is to provide branded products to aspirational customers at affordable rates.
Reboot - A company that has pioneered a frugal Omni-channel market strategy, where in they have been operating through B&M stores, online marketplace and also putting in place a unique assisted Re-commerce platform (soon to be launched - REBO program) - claims that it has less than 2 per cent of returns. They give a one year replaceable warranty on our PC range, which means if something is wrong with our products, they give a full replacement on the product based on the warranty terms.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)