Own your dreams
According to the 2014-15 OLX CRUST survey, goods worth cr are simply lying locked at people’s homes in the form of items which are no longer being used, across urban India*. This huge repository of used articles and the emergence of an aspirational consumer class have created a sustainable market for refurbished goods.
The term ‘re-commerce’ means commerce or trade in reverse—the goods go through the same process as when they were sold as new, but in reverse. Surpluss, Gobol, GreenDust, and Overcart have become the leading players of over-stocked, unboxed, refurbished, and unused products using the smart re-commerce concept. They have aligned with various leading brands and retail giants in channelizing their surplus or excess stocks and returned goods. At present, these companies are biting into the reverse commerce prospect by selling to customers in Tier II and III cities, along with deal-seekers in urban India.
The aspirations of customers are rising, but their disposable income is often not enough to meet their brand aspirations. In such a scenario, the re-commerce industry
comes as a welcome relief. Also, what is significant here is that re-commerce companies are not selling cheaper brands, but making aspirational brands available at a cost lower than the market price. And the products range from clothing to electronics.
With the increasing demand for excess stocks (there is good response from those who have a liking for aspirational brands), the sector is expected to grow manifold in the coming years. Furthermore, the mobile phone category, specifically in the un-boxed and returned goods market, is expected to grow 30% every year till 2020.
The market today is flooded with customers with an acceptance for surplus stock. Tier II and III cities are responding quite well to excess inventory goods, and