The sale of pre-owned phones is increasing in India as a result of the epidemic. According to a study, Covid-19 has prompted individuals to purchase a second device for work from home and educational reasons. Resulting in a rise in the pre-owned smartphone market in India.
In order to produce the study, Cashify surveyed almost 4,000 individuals throughout the nation, according to the e-commerce marketplace Cashify.
The availability of no-cost EMI options, replacement warranties, and contactless delivery is regard. As the most important considerations when purchasing used electronics. Affordability was citing as the main reason for purchasing reconditioned devices. Rather than brand new ones by almost 50% of respondents.
Xiaomi topped the list of the most popular smartphone brands. Followed by Apple and Samsung in second and third place respectively.
New Delhi (23 percent), Mumbai (13 percent), Bengaluru (11.1 percent), and Hyderabad (11 percent). These are the top four cities in terms of pre-owned smartphone sales (7 percent).
Furthermore, the study revealed that in 2020, 80 percent of men sold their cellphones, compared to just 20 percent of females who sold their smartphones.
The pre-owned smartphone market was shown to be heavily controlled by men — the most in-demand was OnePlus with 86 percent of the market, followed by Xiaomi with 85 percent, Samsung with 82 percent, and Oppo with 80 percent. Males were the least interested in purchasing iPhones (71 percent).
“Last year, there was a major movement away from traditional retail and toward online purchasing. Everyone is force to make do with whatever information they could get on the internet while they were confine to their homes. Work, school, and shopping have all moved to the digital realm “Nakul Kumar, Cashify’s COO and co-founder, released a statement.
“When lockdown limits were lifted and more people began to go outside the facility. We shifted our attention back to increasing the number of touchpoints we had with smartphone users. In the third quarter of 2020, the e-commerce sector saw a boom. And for those who prefer to shop offline, we opened more than ten Cashify Stores in the second half of 2020 throughout India. The brand has seen a significant increase in popularity in 2019-20 “He went on to say more.