How refurbished is a win-win retail category?
Yuvraj Aman Singh who is CEO and Founder for Rocking deals is now an established player in the refurbished category.BY Shipra Srivastava | November 01, 2018 | comments ( 0 ) |
Yuvraj Aman Singh
Headquartered in South Delhi, Rocking Deals, a subsidiary of Technix Group of Companies. The company procures returned phones, unboxed, and End-of-Life (EOL) products from leading brands and sell them after testing and repackaging. Yuvraj Aman Singh who is CEO and Founder for Rocking deals is now an established player in the refurbished category. Singh spoke to Indianretailer.com at the sidelines of Opportunity India Show 2018 recently concluded in the capital city New Delhi. The brand has a humble beginning started from a table placed outside a Sony Ericsson outlet in Delhi.
Tell us about Rocking Deals. Also shed light on your business model.
We are into unboxed/access inventory and refurbished products. We buy such items and repackage them after proper testing and sell them at a very good discount. Categories we do include electronics, mobile accessories, cameras, laptops, mobile phones, large appliances, personal care products, smart watches amongst others. We have started this category for major ecommerce players including Amazon, Shopclues amongst others. We retail maximum number of unboxed unites in the country. As far as our distribution is concerned, we have about eight distributors in the country.
Are you official partner of any major CDIT/ Electronics company to look after their open-box or refurbish goods category?
We have agreements with Amazon, Flipkart also we have collaborated with many brands like Bose, JBL. Since, we are in legal clause with them I cannot mention many names here.
What kind of operational challenges do you see as far as refurbish category is concerned?
When we started, it was very difficult to explain this category to customers as the perception was since it is‘already used’ so the quality would be not up to the mark. We had to take extra efforts to make them experience the product. It was very difficult task to make customers explain basic difference between unboxed and brand new products. Gaining the trust was big issue, now is the time we have more than 4 million people using our products. We have changed the whole dynamics of the country as far as refurbish is concerned.
How many units of such products you are selling on daily basis? Also tell us about your largest category?
On an average we are selling more than 2000 units on weekly basis. Electronics is the biggest category for us.
What are the plans to expand footprint from here on?
We used to run about 11 retail stores but now we are only on e-commerce. So any e-commerce firm which is selling certified refurbished goods we are largest supplier to them. However, now we are keen to expand our retail footprint. Franchising is a win-win model as we are not asking vendor to invest much in retail store. We are looking add at least 100 retail stores on franchised model.
What are the plans for tier II market?
We are working towards creating a hybrid model. Under this model all our dealers and franchise partners will not only sell via retail front. They will exclusively get listed on Amazon as well. So all franchised inventories will be connected via single channel which will be also accessible online.