Returned E-commerce goods hot sellers in refurbed markets
Ever wondered what happens to the products you return to ecommerce companies?
While there is a slim chance of the new mobile phone you sent back getting resealed and sold to another buyer on the platform, a large bulk of these are sold to sellers of 'unboxed' or 'refurbished' products at throwaway prices.
This marks the entry point of a bustling 'unboxed' or 'refurbed' market in India which spans across product categories ranging from electronic goods to wearables, home appliances, furniture, apparels and even footwear. According to analysts tracking ecommerce in India, the 'unboxed-refurbed' product market is currently valued at $6-8 billion. Apart from a host of specialised sellers (who sell via their own platforms or through offline stores), this "seconds" market - also called the 'reverse ecommerce market' - has evinced interest from ecommerce giants Amazon and Flipkart and product manufacturers like Apple, Samsung and Boat.
Amazon, with its 'Amazon Renewed' range, is among the largest sellers of refurbished and "like-new" (unboxed) products.
"Customers can discover and buy refurbished products that have been professionally inspected and tested to work, and look like new, by Amazon-qualified suppliers," a company spokesperson said.
Read More at https://economictimes.indiatimes.com/industry/services/retail/returned-e-commerce-goods-hot-sellers-in-refurbed-markets/articleshow/90024107.cms