Online market place eBay is upbeat about its newly launched refurbished product category and plans to replicate its global scenario in India in a year. "Globally, our product listing ratio of new and refurbished product is 80:20.
We plan to create the same in India," said Girish Huria, Head of Communications, eBay India. Currently, more than 90% eBay listings are of brand new products.
The company says refurbished product market offers big opportunity as the online market is currently worth $600 million.
eBay itself has witnessed good demand and response in this category. The product listing has gone up from 6000 to 25000 and the demand has grown by 200% since its launch, added Huria. eBay India had launched its 'ebay Choices' campaign in August 2015 to bring refurbished supply on its platform.
Observing the growing demand, eBay India plans to expand the offering to home appliance products such as washing machines, refrigerators and gaming consoles in the coming months.
According to eBay officials, around 10-12 % of goods are returned every year which are sent to refurbishers. Mobiles phones are among one of the largest selling product in the refurbished category and every year $90 million worth mobiles are returned. eBay India has tied up with around 17 organised refurbishing companies to maintain regular supplies of the products