ebay In­dia shuts down; Flipkart to Rolls Out Plat­form for re­fur­bished goods

Shoes & Accessories - - Updates I India -

Flipkart is shut­ting down ebay In­dia. ebay In­dia will stop tak­ing new or­ders and is now di­rect­ing users to Flipkart to buy and sell.

Ac­cord­ing to a state­ment by Flipkart: “ebay In­dia will cease to ex­ist. We will be launch­ing a new value plat­form start­ing with re­fur­bished goods very soon.”

Flipkart had ac­quired ebay’s In­dia unit last year as it raised $1.4 bil­lion from global tech­nol­ogy ma­jors such as Ten­cent and Mi­crosoft. Along with sell­ing its In­dia arm, ebay had also in­vested $500 mil­lion for an equity stake in the In­dian e-com­merce gi­ant.

“ebay.in has stopped ac­cept­ing new or­ders. You can still reg­is­ter an ebay ac­count on www. ebay.in and con­tinue to buy and sell on www. ebay.com or other ebay sites in­ter­na­tion­ally. Please visit www.flipkart.com to buy and sell within In­dia,” says ebay on its web­site.

Users can­not use their ebay.in ac­count to buy and sell prod­ucts on Flipkart.

“Your pur­chase his­tory will re­main avail­able on My Pais­a­pay and My ebay un­til fur­ther no­tice. Your war­ranty will re­main valid till its va­lid­ity date. Please con­tact ebay.in cus­tomer sup­port for any is­sues re­gard­ing your item,” the web­site adds.

Mean­while, Flipkart is now plan­ning to kick­start a new plat­form to sell re­fur­bished goods – a seg­ment that has stayed un­tapped by the e-com­merce play­ers in In­dia.

Ac­cord­ing to a re­cent re­port in March this year, the global mar­ket for re­fur­bished smart­phones grew 13% year-on-year in 2017, reach­ing close to 140 mil­lion units. It also high­lighted that In­dia was one of the fastest grow­ing mo­bile phone mar­ket for re­fur­bished de­vices. At the mo­ment, the seg­ment has smaller play­ers like To­go­fogo, an on­line mar­ket place which claims to have a 35% mar­ket share.

ebay had launched in In­dia in 2004 through Bazee.com. The com­pany also in­vested in e-com­merce firm Snapdeal in 2013 but had to write off $61 mil­lion in­vest­ment in Fe­bru­ary this year. The com­pany lost a sig­nif­i­cant amount of mar­ket share to Flipkart and Snapdeal. The com­pe­ti­tion in­ten­si­fied fur­ther with Ama­zon’s en­try into the In­dian mar­ket. Apart from los­ing rev­enues, ebay faced a poor rep­u­ta­tion among buy­ers and sell­ers. Cus­tomers were largely unhappy with the grow­ing num­ber of fake list­ings and poor cus­tomer sup­port.

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