By Soumitra Gupta
New Delhi, Aug 5 (SocialNews.XYZ) Global supply networks have been affected by the onslaught of the Covid-19 pandemic, which has increased the cost of new products. Indian consumers are increasingly interested in reconditioned electronics as the cost of smartphones, laptops, and various other electronic products continues to rise.
In recent years, there has been an exponential increase in the demand for improved technology. In addition to global supply chain disruptions, consumers are drawn to purchasing refurbished technology due to price considerations, environmental concerns, and the availability of lifetime management services.
In India, the market for reconditioned electronics is expected to grow from $5 billion in 2021 to $11 billion in 2026. E-commerce businesses have entered this largely unorganized market as a result of increased sales of reconditioned electronics. In addition, organized retailers made up only 1 percent of the market in 2016, but that percentage increased to 8 percent in 2021 and is predicted to reach 20 percent in 2026.
Make a difference in the environment
Due to inadequate waste management, 95 percent of electronic waste (or “e-waste”) in India is not recycled today. In addition, 85 to 95 percent of the carbon emissions produced by the ongoing production of smartphones were produced during that period. Consumers and businesses must switch to sustainable products as waste streams and carbon emissions increase.
Customers can consciously choose to prevent e-waste from ending up in landfills by using a refurbished device. Refurbishing electronics will also promote resource conservation, reduce e-waste, mitigate climate change, and start a circular economy.
Only pay half price
Although buying new smartphones and electrical devices may be tempting, the ongoing pandemic has caused many customers to reduce their budgets. Refurbished gadgets allow customers to buy similar items for less money. It goes without saying that refurbished technology is cheaper than new technology.
These electronic products have the same specifications and features as the new ones and are priced between 30 and 50 percent cheaper than the original. Therefore, buyers should not lower their expectations if they can only lower their costs by purchasing used technology.
Use gadgets for a longer lifespan
Contrary to popular belief, reconditioned products actually have a longer lifecycle than new ones. The longevity of an electronic device, such as a computer or laptop, can be doubled by changing it. Refurbished electronic gadgets tend to last longer due to upgrades and repairs, keeping them out of landfills for longer.
Because of their longevity, many prominent IT organizations have actually invested in reconditioned desktops and laptops. The improved technology thus gives customers another way to save money and the environment.
Reduce risk with additional guarantees
Various after-sales services have also become readily available to customers as more organized actors and markets have emerged in the market for renewable technology. These services include, among others, dealer-backed warranties, accident insurance, operational service center, and dedicated CRM support.
Dealers not only completely repair and update refurbished equipment; they also include warranties that last anywhere from 90 days to a year. These devices also undergo thorough quality inspection to guarantee maximum performance. As a result, consumers who purchase refurbished equipment benefit from cost savings and brand assurance.
Get gadgets like new
Contrary to popular belief, refurbished technology is not always outdated or a waste of money. In fact, they tend to be items that are slightly damaged in transit, displayed at trade shows and in stores, or returned by buyers who change their minds.
These devices are completely refurbished when they are returned, updated with the latest technology, and then offered for sale to consumers. The fact that refurbished devices are in excellent shape and have a longer lifespan than new ones allows consumers to breathe a sigh of relief.
The Bottom Line
Refurbished devices are a great way to save money at a time when technology is rapidly advancing and new models and gadgets are released every day. Reduce your risk and costs if you buy from reputable retailers or proven manufacturers who provide warranties and after-sales service.
(Soumitra Gupta, Chief Executive Officer, XtraCover)
(IANSlife can be contacted at [email protected])