It looks like the wise words - 'creativity is making marvellous out of the discarded’ - have become a major business opportunity in India.
It looks like the wise words - 'creativity is making marvellous out of the discarded’ - have become a major business opportunity in India.
From used cars to books, everything can be sold and bought online these days.
You have portals like Olx and Quickr that let you buy and sell almost every article, device or object. At the same time, if you are looking for specific products there are specialised portals too. Urban Ladder for furniture, Bookchor and Pustak Kosh for books, Cars24 and CarDekho for cars.
In fact, leading e-tailer Amazon also lets you sell used books online. How can you forget eBay? Fashion, toys, accessories, home furnishings and more, you name it and they have it.
The good side of used goods business
A larger section of people have better access to luxury goods or even necessities at cheaper prices. Buying an air-conditioner or a bigger car doesn't have to burn big holes in your pockets. For students or book addicts, more reading options can be explored at lesser cost.
In the age of fast changing technology, some people crave to get their hands on the latest while the goods they have are in perfect condition. These platforms help such people discard products in a better manner while they still hold value.
It helps the environment as much as it helps the consumers. There is better waste management. The life cycle of the products can match the usage period of the products.
But, how is the business of second-hand goods?
While several such ventures are facing teething issues, there are some companies flourishing on the business of second-hand goods.
According to Hindu Business Line, Olx India reported a 95 per cent jump in its profits at Rs 15.6 crore in 2017-18 as against Rs 8 crore last year. The report mentions that the cars owned for less than two years are seeing 18 per cent yearly growth on OLX auto platform. Buyer inquiries for such cars have gone up by 50 per cent. However, Quickr is yet to post profits.
Parent company of CarDekho.com, Girnar Software has recorded a 40 per cent growth in revenue and a narrower loss for the year ended March 2018, VCCircle reported earlier this month.
India’s average per capita income was higher at nearly Rs 80,000 as compared to last four years, Minister of State (Statistics) Vijay Goel informed Parliament in August 2018.
The higher income has resulted in better purchasing power. The want for goods has perhaps overpowered the need for goods.
From used cars to books, everything can be sold and bought online these days.
You have portals like Olx and Quickr that let you buy and sell almost every article, device or object. At the same time, if you are looking for specific products there are specialised portals too. Urban Ladder for furniture, Bookchor and Pustak Kosh for books, Cars24 and CarDekho for cars.
In fact, leading e-tailer Amazon also lets you sell used books online. How can you forget eBay? Fashion, toys, accessories, home furnishings and more, you name it and they have it.
The good side of used goods business
A larger section of people have better access to luxury goods or even necessities at cheaper prices. Buying an air-conditioner or a bigger car doesn't have to burn big holes in your pockets. For students or book addicts, more reading options can be explored at lesser cost.
In the age of fast changing technology, some people crave to get their hands on the latest while the goods they have are in perfect condition. These platforms help such people discard products in a better manner while they still hold value.
It helps the environment as much as it helps the consumers. There is better waste management. The life cycle of the products can match the usage period of the products.
But, how is the business of second-hand goods?
While several such ventures are facing teething issues, there are some companies flourishing on the business of second-hand goods.
According to Hindu Business Line, Olx India reported a 95 per cent jump in its profits at Rs 15.6 crore in 2017-18 as against Rs 8 crore last year. The report mentions that the cars owned for less than two years are seeing 18 per cent yearly growth on OLX auto platform. Buyer inquiries for such cars have gone up by 50 per cent. However, Quickr is yet to post profits.
Parent company of CarDekho.com, Girnar Software has recorded a 40 per cent growth in revenue and a narrower loss for the year ended March 2018, VCCircle reported earlier this month.
India’s average per capita income was higher at nearly Rs 80,000 as compared to last four years, Minister of State (Statistics) Vijay Goel informed Parliament in August 2018.
The higher income has resulted in better purchasing power. The want for goods has perhaps overpowered the need for goods.