Sell your gadgets for instant cash
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Sell your gadgets for instant cash

ReGlobe is a re-commerce company that offers and online platform to sell old and used gadgets like mobile phones, air conditioners, and laptops/tablets.

Cashify app, formerly known as ReGlobe, lets you sell all your electronics, be it mobile phones, laptops or air conditioners, after checking the devices one wishes to sell and quoting the buying back price.

Once the customer is satisfied with the selling price, Cashify will arrange for a free pick-up and initiate the payment. Cashify today initiates the buy-back or exchange programmes for many eCommerce players, such as Amazon and Snapdeal, and OEMs. In a recent conversation with Retailer media, Mandeep Manocha, CEO and Co-founder, Cashify – a re-commerce marketplace launched by the name ReGlobe in 2013, talks about re-commerce market place in India, challenges, opportunity and future plans.

Why did you venture into selling second-hand products?
We don’t sell but buy old and used gadgets. You have an old gadget to sell, go to and take an immediate price quote for your gadget. Alternately you can also download Cashify app which will diagnose the phone automatically and give you an accurate price for the old phone. Schedule a free pick up wherein our technician picks up the old gadget from your home in exchange of instant cash at the same time. By following such easy steps, we enable customers to sell old gadgets hassle-free and deliver convenience at their doorstep. This is why we ventured into this business because we wanted to personify convenience above all!

Isn’t price perception a challenge in buying back used electronics?
The actual challenge is to deal with a scenario wherein the customers do not provide appropriate details and then try to negotiate when our technician who goes for picking up the device. Then the price has to be revised as per the right configuration which is not acceptable by customers most of the times. Making them understand our price algorithms is a challenge in its own.

There is another challenge that we face. Most of the customers are comfortable talking in their local languages despite the knowledge of English. Even though we have a Pan-India presence, we face a lot of issues when language becomes a barrier. When this happens, customer loses patience and making them understand our buying process becomes a challenge.

What’s the opportunity you are looking to tap?
Initially, we had started buyback services only for laptops but soon started services for mobiles as well. Mobiles are the driving force for majority of the businesses in India and we realised the potential that mobiles held in the second hand market. Thus we started buyback services for mobiles and now we also have Cashify App that offers automatic diagnosis for mobiles. It takes our online platform to users’ pockets. Now that we have an app on board, we look forward to dig deeper in the mobile market.

Talk to us about your strategy and expansion plans.
From the time we launched services for laptop till now, we’ve improvised a lot on many categories. As mentioned earlier, we are looking forward to dig deeper in the mobile market but with a touch of convenience. We do have plans to expand slowly but steadily and we aim to provide our dedicated services in more than 50 new cities in India within next six months. Also, with the implementation of advanced technology, we are working on new strategies that will help us to reduce our TAT (turn-around time) from 48 hours to 4 hours. The work is in progress. Watch out for this space!

How and from where do you initiate the buying of used goods? Do you refurbish them?
We have an established online portal that enables our customers to unlock the best price quote and further helps them to successfully sell their gadgets for instant cash. We believe in extending life of gadgets so that it can become accessible to more people at affordable prices.

Though we do not directly refurbish these gadgets, we have an offline distribution network across cities to make these secondhand but affordable gadgets available across India for sale. Apart from this, we make sure our partners get connected to each other post the partner training period wherein we open gates for them to get access to more resources for right spare parts. This way our partners feel a strong sense of belonging, get expertise in their field and hone their professional relationship with other partners in the network.

What’s your monthly gross sale? How many categories does the site offer?
As compared to the initial stage wherein we started the journey only with laptops, we have multiplied our services million folds. From the buyback services of laptops only, we have now diversified to offer buyback services for eight categories, i.e. mobiles & tablets, laptops, gaming consoles, desktops, TVs, refrigerators, air-conditioners and washing-machine.

Aren’t logistics and sourcing of used products an issue for you?
Once the customers unlock the best price for their old or used gadgets, we make sure that our customers are able to sell their gadgets fast & easy through our localized network of professional buyers across the country, i.e., across 50+ cities. These buyers are professionally trained through our partnership program wherein they are trained on etiquettes, technology and other soft skills in order to maximize our customer’s satisfaction.

Do you also tie up with eComm players to get returned goods?
When we say convenience, we mean it literally and in every possible way. We do not offer just a platform but an end to end service wherein the customer can sell old gadgets hassle-free. This also includes our buyback programs for buying old and used gadgets from customers through various portals such as Snapdeal, Amazon, Infibeam and Ebay to name a few. Recently we had partnered with OnePlus also for a buyback program which pulled off pretty well.

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