In order to provide additional channel and increased accessibility for its consumers, QuikrBazaar is planning to have more than 100 such stores across India in the year 2020.
Quikr has opened its sixth QuikrBazaar store in Telangana at Warangal. It is a platform behind leading transaction marketplaces built on top of India's largest classifieds business.
With this new store, Quikr will offer a seamless digital experience before, during, & after, along with the growing demand seen on the platform. It is providing a touch-and-feel experience to its consumers offline as well.
Sarath Chandra Gudlavalleti, VP, QuikrBazaar, said, “There is a huge demand for quality tested new, unboxed and refurbished products across India and some customers still prefer to touch & feel the product before buying.”
QuikrBazaar’s first few stores are already operational in Haryana, Tamil Nadu, Uttar Pradesh, Telangana, and Karnataka.
The newly launched store brings its assured products in categories like furniture, electronics, and appliances. Quikr checks all products in the assured offering for quality, and offers products with a full warranty and replacement guarantee.
“With the launch of these QuikrBazaar stores, we will be able to reach markets where customers don't have access to these products and bridge the gap between aspirations and affordability in tier I, II & III cities of India,” Gudlavalleti added.
In order to provide additional channels and increased accessibility for its consumers, QuikrBazaar is planning to have more than 100 such stores across India in the year 2020.
Refurbished products market
The refurbished products market is anticipated to reach $12-15 billion in the year 2020. This space, which is largely driven by unorganised local retailers, is getting taken up by organised players slowly and steadily. What separates the two business models is the latter’s ability to completely transform the product and give it a complete ‘new’ look and feel.
Today, many firms have their firm fingers on this sector and aim at standardising and augmenting the pre-owned electronic devices market.
These players essentially target to create a dynamic marketplace where the consumer can choose products with warranty and services attached with the help of service providers.
Franchising as a medium to expand
In order to broaden their horizon, many of these refurbished startups are now aiming to grab the lion’s pie by taking the franchising route. No doubt, franchising enables a brand to onboard a bunch of talent from the industry which further helps in building the business.
Many well established online players in this segment prefer expanding their sphere via franchising as having a retail touch-point can do much better than e-commerce if managed well.
The consumer base is surely increasing and soon we expect the refurbished industry to stand tall as one of the mainstream verticals of modern-day retailing.