e-Bay India forays into refurbished goods segment

In a race to top the eCommerce chart with competition from other giants like Flipkart and Snapdeal stepping up, online marketplace e-Bay India is now eyeing at the refurbished goods segment.
e-Bay India
In a race to top the eCommerce chart with competition from other giants like Flipkart and Snapdeal stepping up, online marketplace e-Bay India is now eyeing at the refurbished goods segment.
The company has tied up with a number of organised entities, such as Green Dust and My RetrunSolutions, which will sell these with a six-month warranty.
Listing of used goods is a major business for e-Bay globally, accounting for 24% of the goods sold on the open marketplace. The company recently launched 'eBay Choices', wherein customers can buy new, refurbished and used products.
"We are witnessing a great growth in refurbished goods category Our aim is to increase the share of refurbished goods to 20% in the next two years. Refurbished goods come with seller's warranty and priced at much cheaper rates. All the refurbished products being listed on the platform had been scanned for defects and functioning issues before being retailed. There were 6,000 refurbished product listings in August this year which has now grown to 20,000 product listings. We see good growth, demand for these items and hence will be expanding the portfolio", said Pankaj Ukey, Director, Catagory management and Seller Service.
Currently, in e-Bay's overall volumes, brand new products contribute 95%, while 5% is refurbished. The top selling goods are clothing and accessories, electronic, watches, sunglasses among others. The electronics and lifestyle products are the revenue generators for the company. Currently, only $ 500-600 million worth of refurbished goods are traded online using e-commerce platforms.
He added that over the next one years, the platform will not only see a 20% increase in total listings in these categories but also a change in the mix -- 80% new and 20% refurbished.
According to Ukey, the e-commerce industry had 45 million customers transacting online during January-December 2014 period, which is expected to touch 60 million this year and cross 100 million in 2016. The company said it had 3.5 million users in India across 4,556 towns and cities, and 65,000 sellers which had listed 30 million products on the website.
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