Around 5-6 years ago, the emergence of Refurbished industry was seen with skeptical eyes, but recent reports published by leading Research Institutes tell a totally different story. According to Counterpoint Research, India alone has witnessed a growth of more than 40% in the Refurbished Market in the second quarter of 2018. This percentage is higher than any other country in the world, and India is perhaps the only country where both refurbished and new Smartphones have ample opportunities.
In coming times, experts have indicated growth of at least 25-27% growth in Refurbished Market by 2019 and 2020, and the leading factor behind this growth is the rise of startups such as Secondhandkart .
According to Dazeinfo, the world is witnessing a slower growth in the new smartphone industry. Innovation has declined a little, and this has given the opportunity for refurbished Smartphones to compete with the new Smartphones.
Apple products are no doubt the most sought after refurbished devices, and we can easily see why. They depreciate at a lower rate over time and recent updates are available for the older versions as well. After Apple, Samsung is the star of this market, and we’re in the perfect position to witness the arrival of other brands too in this market.
Time will tell how the Refurbished Market performs in the future, but one thing is sure that this market is poised to grow.