In general, refurbished refers to the renovation or rebuilding of something. The E-commerce marketplace nowadays is providing a large platform for this new incentive to grow and sustain. The new shopping style i.e, buying refurbished products is attracting more and more people from tier 2 and tier 3 cities who were earlier denied reach due to distance, money, or other barriers.
Best Ecommerce Marketplaces To Sell Refurbished Products
Today this new marketplace is growing rapidly and is worth a $10 billion industry. Many popular e-commerce sites like Flipkart, Amazon, etc are also providing options for people to sell their refurbished products and avail discounts on buying new products.
Advantages:-
- This new innovation is a boon for middle class people as now they can buy products of big brands at a cheaper rate.
- It is not only cost effective but also sustainable. The re-usage of a product minimizes the chances of waste generation and pollution.
- As people can sell/order the products offline and online also, it reduces the distance barrier.
- It is generating a new model of employment for people .
- People have more choices in buying/selling products. It is a diversified market. In this, people can compare the selling price of the same products through many sellers and can decide according to their budget.
Disadvantages:-
- There are only a few drawbacks to this whole setup that there are possibilities of the products not having any guarantee/warranty.
- People buying products need detailed scrutinizing before buying as the products might have different conditions, performance etc from what the seller has shown in the image.
- People should beware of any frauds or from getting catfished.
However, for solving this problem some of the refurbished products selling e- sites have come up with a new strategy where they are providing warranty and services pre-attached with the products.
Here’s a shortlist with details of some of these sites:-
- HyperXchange:- started in 2016, this a company for refurbished gadgets. It is based in Kolkata backed up by Microsoft and IIM Kolkata. The company also got featured in Collision,(world’s biggest startup event). HyperXchange offers lowest price, 12 months warranty period and price offers.
- Togofogo.com:- A company for selling used mobiles and tablets. All products offered by them undergo a rigorous quality checking process and come with warranty period. It also provides smooth and swift door to door delivery.
- Surpluses.in:- Founded in 2014, the company aims to provide refurbished products, ranging from tablets, mobile phones to apparels and other consumer products to potential customer at consumer friendly prices.
- Reboot:- The company provides 1 year warranty to PCs. They are giving full replacement of the products for its malfunction within the warranty period.
Now everyone can become a certified refurb product seller just by partnering themselves with any e-com site. Every site has its own basic requirements like the making of account, Id proofs, proper paperwork, and acceptance of the company’s terms and conditions. The process may sound hectic, but the company has ensured a swift smooth way of all the documentation process. A seller just has to upload the required documents and within a few minutes, he will be an eligible and certified seller.
As this idea is growing rapidly many apps have been made specially to sell refurbished products. Some of these apps are OLX, eBay, Cashify, Blackmarket, Bol.com, etc. We can also call it a modified form of “barter system”. People can buy second-hand items with money or they can exchange them with any of their products with the seller’s consent.
Earlier, using refurbished products was looked down upon by society but with the advent of the internet, e-commerce, growing startups, awareness programs people are accepting and welcoming this idea.
Conclusion
Most frequently sold refurbished products are books, clothes, electronic items, kitchen utensils, home decor. However, the field is getting more diversified with each passing day. Hence, we can say that Old is Gold or refurbishing is as good as buying new products.
