Starting with refurbished smartphones and accessories with warranty benefits, the app will cater to retailers across India who are looking to buy refurbished phones and accessories
The app, 'Flipkart Reset for Business’, offers a wide selection of quality-checked refurbished smartphones and accessories, catering to the rising demand, particularly in Tier II & III cities
The refurbished electronics goods market is expected to reach a size of $11 Bn by 2026 in India
Ahead of its festive season sale, The Big Billion Day Sale, ecommerce major Flipkart
has introduced a new business-to-business (B2B) app called ‘Flipkart Reset for Business’ to help sellers of refurbished products connect with customers across India.
Starting with refurbished smartphones and accessories with warranty benefits, the app will cater to retailers across India who are looking to buy refurbished phones and accessories in varied quantities with no minimum order quantity restrictions.
“… With the B2B app from Flipkart Reset, Flipkart aims to level the playing field for sellers by offering a platform to tap into this demand. By providing access to high-quality and affordable refurbished products seamlessly, we’re empowering sellers with an organised market while promoting sustainable consumption…,” said Ashutosh Singh Chandel, senior director and business head of recommerce at Flipkart.
The launch is part of Flipkart’s effort to create a smoother marketplace for both small and large sellers.
Chandel said that the booming refurbished electronics goods market is expected to reach a size of $11 Bn by 2026 in India.
It is pertinent to note that recommerce has been one of the focus areas for the Walmart-backed ecommerce giant for quite some time. In 2022, Flipkart acquired electronics recommerce startup Yaantra. Prior to that, it launched its refurbished platform 2GUD in 2018.
The latest development comes on the heels of Competition Commission of India (CCI)’s investigation finding Flipkart, along with Amazon, guilty of violating the country’s competition laws by giving preference to select sellers on their shopping websites.
Following up on that, the antitrust watchdog has sought turnover details from the duo to determine a penalty. Notably, the ecommerce duo are facing a penalty of up to 10% of their global annual turnover or income, as per a report.
Meanwhile, Flipkart continues to expand its services amid the intensifying competition in the ecommerce space. Most recently, it launched quick commerce service ‘Minutes’ in Bengaluru and expanded it to Delhi.
The company is also reportedly planning to operate 100 dark stores—mini warehouses used for faster deliveries—during the festive season to strengthen its quick commerce strategy.
Notably, the operating revenue of Flipkart’s B2C arm rose 42% year-on-year (YoY) to INR 14,845.8 Cr in the financial year 2022-23 (FY23). Its loss declined 9% to INR 4,026.5 Cr during the year from INR 4,419.5 Cr in FY22.
