According to a survey conducted by shopclues.com, 70 per cent 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 per cent from top metros and 60 per cent from the remaining cities.
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. 70 per cent of the demand for used or unboxed mobiles, tablets and laptops now comes from these smaller cities, such as Hisar and Nashik.
“We know everyone is looking for a deal and yes India has the maximum youngsters in the country, In Tier 1 and 2 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 5-6 months, we must be able to give newer and better products to our customers and make them our lifetime customers. Selling the same with authenticity and commitment of a long-term lifecycle, we try our level best to keep the customers happy. 5-8 per cent 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,” said Yuvraj Aman Singh, CEO, Rocking Deals, one of the early movers in the refurbished and unboxed phones space.
The Shopclues’ transaction data (from September 2015 – February 2016) gives out some interesting figures, including increased preference for prepaid orders in the refurbished, unboxed tech products space. It says that as many as 63 per cent transactions were prepaid. According to the data, Xiaomi (27 per cent) and OnePlus (17 per cent) were two of the highest selling mobile brands, followed by Micromax, Samsung and Apple, whereas Dell leads the pack in the laptop space, with as much as 31 per cent sales.
It also claimed that while only 8 per cent buyers were interested to buy phones to the tune of Rs 20,000 (and above), a total of 48 per cent sought for phones ranging from Rs 6,000 to Rs 10,000. The report said that more than 68 per cent of the total laptops booked are from Tier II, III cities; the number rises to 76 per cent in case of mobile phones.