'Covid has boosted sale of refurbished electronic goods'

Each phase of the recent lockdown saw a surge in interest for different kinds of products which gives an understanding of the consumer mind-set. There's an increasing interest amongst consumers for refurbished electronics & appliances and some of the most in-demand Quikr Assured products include TVs, refrigerators and washing machines. In the light of the market of refurbished items during the lockdown Sarath Chandra Gudlavalleti, VP, QuikrBazaar talks to The Hans India's Aksheev Thakur.

How has been the demand for refurbished items during pandemic and post lockdown? Especially in the background of e-retailers giving discounts on non-essential items?

While the economic impact of the current pandemic is likely to affect consumer behaviour, we foresee consumers to largely lean towards options which deliver better value. Owing to the cost-saving benefits they offer, pre-owned and refurbished products like laptops and other electronics and appliances are gaining momentum along with refurbished and unboxed furniture as well. Each phase of the recent lockdown saw a surge in interest for different kinds of products which more or less gives us an understanding of the consumer mind-set. Lockdown 1.0 clearly showed an interest in enhancing personal skills as consumers showed more interest in guitars and carrom-boards. This phase also saw fitness enthusiasts search for equipment like treadmill and dumbbells. This shows that Indians wanted to make use of the lockdown for self-growth. Interestingly, lockdown 2.0 saw a shift in the consumer focus towards pre-owned items like study tables, printers and computer tables. When we stepped into lockdown 3.0, consumers had already accepted the reality of the lockdown and this reflects in their interest to search for pre-owned items like laptops and dumbbells. With an increase in the searches for air conditioners, clearly this phase saw climate have an impact in consumer-buying behaviour too. Additionally, the observations backed by QuikrBazaar data shows that, post-COVID, there's an increasing demand for Quikr Assured Furniture such as Office furniture, Tables, Bed sets, Sofa sets, and Wardrobes as compared to pre-COVID times in Jan & Feb. People are spending more time at home and are looking at upgrading their lifestyle which could be the reason for the increased interest in furniture.

As consumers adapt to the 'new normal' they can buy good quality products at affordable prices as refurbished and pre-owned products can be about 20-30% cheaper as compared to new products. They also have exciting options like no-cost EMI, warranty, discounts, doorstep delivery, product installation, demo options and buy-back options which make pre-owned products more attractive. The bonus point being, its effect on the environment as reusing helps save mother nature.

Which electronic item has the huge demand given the WFH opportunity given to IT employees, teachers and students as well?

There's an increasing interest amongst consumers for refurbished electronics & appliances and some of the most in-demand Quikr Assured products include TVs, refrigerators and washing machines. As consumers spend more time at home now, they are opting for such products as they are known for their convenience (refrigerators and washing machines), and entertainment (TVs) factors. We are also seeing an upsurge in the demand for laptops mainly because many consumers are continuing to work from home and children are continuing to take virtual classes from home and there's a requirement for such items that aid the setup. Clearly, the concept of reusing is not new to Indian consumers, also, being a made-in-India-for-India business and having seen the trends, we believe the demand for refurbished products to continue to grow in the times to come.

Students across the country right from junior to senior have had to buy smartphones to take online classes. Could you tell me something about the demand for smartphones?

If this lockdown has taught us anything, it is to put second-hand first and considering the environmental benefits associated with reusing products, this concept is clearly gaining popularity. In fact, even during the lockdown, cities like Chennai and Noida saw an increasing demand for pre-owned mobile phones on QuikrBazaar. Additionally, the searches for pre-owned mobile phones

has increased since Unlock 1.0 with a rising demand for brands like Apple and Samsung.