Cashify Opens Its First Exclusive Store in India
"Cashify will buy old smartphones, offer screen repair services, sell refurbished smartphones and accessories at its first exclusive store in India. India is one of the fastest growing and untapped refurbished handset market in the world, but most of it is unorganized. E-commerce giants like Flipkart and Amazon have entered the refurb market, and even though these platforms offer warranties on refurbished phones, the trust and awareness still remain primary barriers for refurb adoption in India. Foraying into the offline segment, like the move by Cashify, will go a long way in bridging this gap. Cashify is the only notable player in this segment promoting trade-ins, in a country where 70% of the pre-owned phones are drawered. Building a brand in this segment will grant Cashify a first mover advantage in India. With China’s recommerce giant AiHuiShou as a strategic partner, diversification of its business into repairs, accessories, and a plan for aggressive offline expansion, Cashify appears well prepared for strong growth in the Indian recommerce space." - Varun Mishra
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Category
Report Type
Report
Time period
Half-Yearly
Summary
Category
Published
Jun 25, 2019
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