India: Flipkart launches e-commerce portal for refurbished goods

Flipkart. Photo: Hemant Mishra/Mint

After closing down eBay.in, the India operations of the e-commerce website which it acquired last year, Flipkart today launched its new website to sell only refurbished products. Named 2GUD, the portal is like any other e-commerce site selling electronic items but has only certified refurbished products.

At present, the refurbished store is selling mobile phones, laptops, smartwatches, tablets and streaming devices. In the coming days, Flipkart will launch speakers, power banks, smart assistants, hair dyer, hair straightener, TV sets and other 400 product categories.

According to the new e-commerce portal, 2GUD sells only unused and returned products or used products which are restored to full functionality by professionals. Each product is certified and graded by experts at F1 Info Solutions and Services or other partners of Flipkart. All products are certified to be fully functional.

Flipkart CEO Kalyan Krishnamurthy said with 2GUD, the e-commerce major has removed the trust deficit that exists in the refurbished goods market.

“The refurbished goods market has remained highly fragmented and unorganised despite its size, primarily due to complex processes, and missing assurance on the quality of products. Unlike existing C2C (customer-to-customer) platforms, 2GUD offers an organised space devoid of regular buyer-seller interactions, which simplifies the process for both parties,” said Anil Goteti, VP, Flipkart, who will be heading 2GUD along with Flipkart Marketplace.

According to the e-tailer, the refurbished goods market is expected to be a $20 billion market in 5-6 years.

2GUD has been rolled out on mobile website initially and will be available on desktop soon. Flipkart is also coming out with a mobile app.

You will find products divided into 5 grades of refurbishing:

1. Unboxed like new: Unused with zero scratches. 12-month warranty.

2. Refurbished superb: Minimally used with negligible scratches

3. Refurbished very good: Moderately used with minimal scratches

4. Refurbished good: Extensively used with visible scratches

5. Refurbished okay: Heavily used with significant scratches

Flipkart says all products listed on this website goes through a rigorous 47-step quality check. For a mobile phone, for example, everything from its screens to batteries are tested. If any parts are found faulty, then the phone is replaced to its full functionality.

Flipkart is offering 3 to 12 month warranty across product categories.

eBay.in, which was sold by American ecommerce company eBay to Flipkart in 2017, had stopped accepting new orders from 14th August after which it was clear that Flipkart will launch a new portal.

Also Read:

Walmart completes deal to buy Flipkart for $16b

Flipkart India races ahead of rival Amazon in six monthly sales growth

This article was first published on livemint.com

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.