To say that the refurbished gadget market in India is experiencing a renaissance of sorts would be a massive understatement. Part of this burgeoning transformation is OldSold.in, a Mumbai-based online platform dedicated to bringing high-quality refurbished electronics to consumers nationwide.
Also read: Embracing refurbished gadgets: NewJaisa’s journey in India’s second-hand tech market
In an interview with Alok Parmar, Director of OldSold.in, we discussed how the Indian refurbished market has evolved since their inception, the changing customer demographics, the challenges faced by small businesses, and their unique marketing strategies.
Q) How has the refurbished gadget market evolved since you launched?
OldSold.in was launched in 2015. Since then, we’ve observed three major shifts in the refurbished gadget market: Initially, the supply of refurbished gadgets was highly fragmented, with no major organised players. This lack of structure made the industry heavily reliant on cash transactions, creating inefficiencies. However, the entry of large e-commerce companies into the market brought much-needed organisation, streamlining the supply chain and making it more reliable and scalable. The introduction of the Marginal Scheme in GST, which specifically recognizes refurbished products, has been a game-changer for the industry. Under this scheme, GST is paid only on the margin, not on the full sale price. This has made the business of selling used mobile phones more lucrative, transparent, and official, encouraging more players to enter the market. Today, there’s a much greater awareness and acceptance of refurbished gadgets as both a cost-effective and eco-friendly alternative to buying new. Overall, the landscape has evolved from a fragmented, cash-dependent market to one that is structured, regulated, and increasingly trusted by consumers.
Q) Who’s your typical customer for refurbished gadgets?
Our typical customers range from budget-conscious business professionals, deal seekers, WhatsApp upgrading or having a second phone, to eco-minded tech enthusiasts. They seek high-quality, certified refurbished gadgets with clear information about product condition and warranty. Over the years, we’ve noticed evolving trends in customer behaviour: Customers now prioritise high-quality, certified refurbished products and appreciate transparent information about the device’s condition and warranty. Initially, refurbished phones were seen as budget options for the masses. However, as new phone prices have surged – from around ₹50,000 to ₹1.5 lakh – refurbished phones have become more appealing to a wider audience, including those from higher income brackets. Consumers who have started using WhatsApp for the first time or want to use it for business purposes only.
Also read: Indians want more refurbished smartphones, Cashify explains why
Q) Biggest challenges faced by small businesses like yours in the refurbished gadget market?
The biggest challenges we face include maintaining a consistent supply of high-quality gadgets and building consumer trust in refurbished products. Ensuring a steady stream of devices that meet our stringent standards can be difficult, especially in a market that’s still somewhat fragmented. Additionally, convincing consumers of the reliability and value of refurbished products requires ongoing effort, particularly in an industry where perceptions can vary widely.
Q) How do you market your refurbished gadgets?
Word of mouth and customer referrals have been our most powerful marketing tools, driving a significant portion of our success. We place a strong emphasis on repeat business, ensuring that our customers have such positive experiences that they return to us and recommend us to others. In addition to organic growth, we leverage digital marketing strategies to expand our reach.
As OldSold.in continues to grow in the expanding Indian refurbished gadget sector, by overcoming challenges and adapting to evolving consumer needs, they are not only making technology more accessible but also promoting sustainable practices. OldSold.in’s journey underscores the potential of refurbished electronics to redefine consumer habits and contribute to a more eco-friendly future.
Also read: India’s refurbished smartphone market booming: Flipkart’s Recommerce Business Head
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Jayesh Shinde
Executive Editor at Digit. Technology journalist since Jan 2008, with stints at Indiatimes.com and PCWorld.in. Enthusiastic dad, reluctant traveler, weekend gamer, LOTR nerd, pseudo bon vivant. View Full Profile
