Online marketplace ShopClues is entering the unboxed and refurbished electronic gadgets category and targets doubling its gross merchandise value with a customer count of 9 million by the end of this fiscal. The company aims to organise the mostly unstructured category of used and unboxed electronics, it said. With a focus on the ‘re-new’ gadgets category, ShopClues is structuring the massive opportunity around unboxed and refurbished electronics.
“Extensive primary research has informed us that there is a huge need gap when it comes to consumers buying unboxed and refurbished gadgets, especially with awareness, availability, and quality assurance,” Radhika Aggarwal, co-founder and chief business officer, ShopClues.com said here.
It is targeting to grow its gross merchandise value (GMV) by two-times, with a customer base of 9 million, she added. ShopClues currently services 30,000 PIN codes and is targeting a GMV of about Rs 20,000 crore by the end of this fiscal.
The ecommerce company will be among the first marketplaces to enter this category.
“Our product teams have also solved the fundamental problem of trust and quality through a specific surety badge – Surety Re-New – which signifies that the product has gone through 5 levels of quality checks, something that no local seller can replicate,” she added.
The company plans to focus on tier-III and IV towns like Bankura, Tiruvallur, Krishna and Godavari, in the South.
The company has tied up with top selling brands like Nokia, Samsung, OnePlus and Motorola, Xiaomi and Asus. It aims to move beyond the consumer-to-consumer nature in this market and add value to products in this category. Going forward, the company plans to grow this category to include TVs, watches and more, it said. ShopClues has over 20 million listed products, with five lakh merchants and 7,000 online brand stores. The company received ‘Series E’ funding from sovereign wealth fund GIC. Its other investors include Tiger Global, Helion Venture Partners and Nexus Venture Partners.
Source: Financial Express