In an era where sustainability and cost-effectiveness are becoming paramount, the refurbished gadget market in India is witnessing a remarkable surge. Leveraging this transformation is NewJaisa, a company that has swiftly ascended from a modest startup to a significant force in providing high-quality refurbished laptops and desktops.
I spoke with Vishesh Handa, Founder & CEO, NewJaisa, to explore the company’s inception, its approach to technology and AI, and the challenges and opportunities within India’s refurbished gadget landscape.
NewJaisa technologies was launched in 2020. We were Covid babies, and the divide between Haves and Have nots was so stark – only 9% of India could afford to come online for education as affording a PC was a luxury for most of Bharat. We took up the challenge of providing a fully featured AIO for less than ₹13,999, a price point we thought will help many. With five people, 2000 sq ft of space, few bucks and a lot of passion to deliver we got the product ready in 7 days flat and to our own surprise, within a week we became the best seller on Amazon. Four years on, from 2K to 50K sq ft of space, from 5 to 500 employees, from 1 to 250 SKUs, from 0 to ₹62 Cr revenue – it’s been a rocketship!
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Since our inception, the market has witnessed significant growth. Initially, refurbished gadgets were seen with scepticism, but over the years, consumer perception has shifted. With increased awareness of sustainability and cost-effectiveness, more people are opting for refurbished electronics. The market has become more organised, with greater transparency and improved quality control measures, which has helped build trust among consumers.
Our typical customers are price-conscious individuals, small businesses, educational institutions and students who need reliable technology at a lower cost. Over time, we’ve noticed a growing trend of environmentally conscious consumers who prefer refurbished gadgets as a sustainable choice. Additionally, there’s been an increase in demand for higher-end refurbished gadgets as customers realise they can get premium products at a fraction of the cost.
Technology and AI play a vital role in our operations. We use AI to automate the grading and refurbishing process, ensuring consistency and accuracy. Additionally, data analytics helps us understand customer preferences and optimise our inventory. AI-driven customer service tools allow us to provide timely and personalised support, enhancing the overall customer experience.
Also read: “Sustainability is the driving force shaping the future of technology”, says ControlZ’s Yug Bhatia
The biggest challenges include educating consumers about the benefits of refurbished products, ensuring a consistent supply of high-quality devices, and navigating the competition from large unorganised markets which rely on illegal imports. However, there are exciting opportunities in the growing awareness of sustainability, increased demand for affordable technology, and the potential to expand into new markets and product categories. India’s PC penetration at 13% is significantly lower than USA (81%), China (47%) and EU (81%) – presenting a high growth potential. Refurbished laptops present a ~$2.5 billion market opportunity by FY33, and the Indian organised sector is expected to penetrate ~50% of the market by 2028, up from ~10% currently.
As the demand for affordable and eco-friendly technology solutions escalates, NewJaisa’s rise is evident of a significant shift in consumer behaviour. By leveraging advanced technologies like AI and focusing on customer-centric strategies, the company is not only addressing current market challenges but also paving the way for a more sustainable and inclusive tech future in India. The mantra “Say no to new” encapsulates a movement towards smarter consumption, one that NewJaisa’s embracing all the way.
Also read: India’s refurbished smartphone market booming: Flipkart’s Recommerce Business Head
