BY SOUMITRA GUPTA
New Delhi – Global supply networks have been hit by the onslaught of the Covid-19 pandemic, driving up the cost of new goods. Indian consumers are increasingly interested in refurbished electronics as the cost of smartphones, laptops and various other electronics continues to skyrocket.
In recent years, there has been an exponential increase in the demand for refurbished technology. In addition to global supply chain disruptions, consumers have been persuaded to buy refurbished technology due to price considerations, environmental concerns, and the availability of lifetime management services.
In India, the refurbished electronics market is expected to grow from $5 billion in 2021 to $11 billion in 2026. E-commerce businesses have entered this mostly unorganized market owing to the increase in sales of refurbished electronic products. Additionally, organized sellers only accounted for 1% of the market in 2016, but this percentage increased to 8% in 2021 and is expected to reach 20% by 2026.
Make a difference in the environment
Due to inadequate waste management, 95% of e-waste (or ‘e-waste’) in India is currently not recycled. Moreover, 85-95% of the carbon emissions produced by the ongoing production of smartphones are produced during this stage. Consumers and businesses must switch to sustainable products as waste streams and carbon emissions increase.
Customers can intentionally choose to keep e-waste out of landfills by using a refurbished device. Refurbishment of electronics will also help conserve resources, reduce e-waste, mitigate climate change and start a circular economy.
Pay only half the price
Even though buying new smartphones and electronic devices can be tempting, the ongoing pandemic has caused most customers to cut their budgets. Refurbished gadgets allow customers to purchase comparable products at a lower cost. It goes without saying that refurbished technology is much more affordable than new technology.
These electronic products have the same specifications and features as new products and are priced between 30-50% less than original. Therefore, buyers don’t have to lower their expectations when they can simply cut costs by buying used technology.
Use Gadgets For Longer Life
Contrary to popular belief, refurbished products actually have a longer life cycle than new products. The longevity of an electronic device, such as a computer or laptop, can be nearly doubled by remodeling it. Electronic gadgets that have been refurbished tend to last longer due to upgrading and repairs, which keeps them from ending up in the trash any longer.
Due to their longer lifespan, a number of leading IT organizations are investing in refurbished desktops and laptops. Refurbished technology thus offers customers another way to save money and the environment.
Reduce risk with additional guarantees
A variety of after-sales services are also becoming more readily available to customers as more organized players and markets emerge in the refurbished technology market. These services include, but are not limited to, vendor backed warranties, accident insurance, operational service centers and dedicated CRM support.
Not only do vendors completely repair and update refurbished equipment; they also include warranties that can last anywhere from 90 days to a year. These devices also undergo extensive quality inspections to ensure optimum performance. As a result, consumers purchasing refurbished equipment benefit from cost savings and brand certainty.
Get gadgets like new
Contrary to popular belief, refurbished technology isn’t always outdated or a waste of money. In reality, these are usually items that were slightly damaged in shipment, displayed at trade shows and in stores, or were returned by buyers who had changed their minds.
These devices are painstakingly repaired when they are returned, updated with the latest technology, and then offered for sale to consumers. The fact that refurbished devices are in superb condition and have a longer lifespan than new allows consumers to breathe a sigh of relief.
Refurbished devices are a great way to save money in a time when technology is changing rapidly and new models and gadgets are coming out daily. Your risks and costs will be reduced if you buy from reputable retailers or tested manufacturers who offer guarantees and after-sales services. (IANS)