Togofogo.com an online marketplace for re-furbished and pre-owned products in the mobile phones category, has sold 3,50,000 units in three years. Founded by Soumitra Gupta, the company aims to change the perception of the second-hand mobile phone industry in the offline grey market by establishing an organised online marketplace.
Togofogo.com claims to give valuable offers and warranty in addition to selling authenticated and certified products. Further, the website captured a 35 per cent market share. Data shows a repeat customer percentage of 25 per cent, indicating customer satisfaction.
The founder, Soumitra Gupta, commented on the milestone achieved by Togofogo.com: “While I had envisioned that the market for pre-owned mobiles in India will be high potential a few years back, there was a huge gap in the market, which stopped the growth of refurbished and second-hand phones in India.”
He explains the company’s vision as an ecosystem where sellers can leverage Togofogo’s logistics support to open up their sales to buyers looking for refurbished and certified mobile phones.
In India, millions of users still buy second-hand phones because they would rather opt for a pre-owned phone with features they need, rather than settle for a new phone with lower specifications. Along with affordability, the shorter upgrade cycles of smartphones these days is also fuelling demand for used phones.
Source: The Hindu