by Elton Gomes
On Wednesday, Flipkart launched 2GUD, its new e-commerce platform for refurbished goods. The platform had been announced late last month after CEO Kalyan Krishnamurthy announced the shutdown of eBay India. Called 2GUD, the platform will mark Flipkart’s maiden foray into the refurbished goods market, which is predicted to be a $20 billion market within the next five to six years.
Only stock refurbished smartphones, laptops, tablets, and electronic accessories will be initially accessible on Flipkart’s 2GUD platform. In the near future, the platform will also include other categories such as home appliances. The platform has already gone live via its mobile website and will soon be available on the desktop. Flipkart is also planning to come out with a mobile app in the days to come.
How will 2GUD get customers to trust the platform?
Walmart-owned Flipkart said that all refurbished items on 2GUD have been “thoroughly tested and certified with warranty”—this will help in alleviate trust issues that consumers seem to have in this space. All products on 2GUD will come with a post purchase warranty ranging from 3 to 12 months, and products sold will be serviced through existing service centres across the country.
“As a market leader, Flipkart has always tried to solve for India and offer a more fulfilling shopping experience in every aspect,” Kalyan Krishnamurthy, CEO of Flipkart, said. “With 2GUD, we have removed the trust deficit that exists in the refurbished goods market, and along with the added convenience, are offering customers yet another avenue to access quality products at most-affordable prices,” the Indian Express reported.
Currently, 2GUD will be selling mobile phones, laptops, smart watches, tablets, and streaming devices. In the coming days, Flipkart will launch speakers, power banks, smart assistants, hair dyer, hair straightener, TV sets, and 400 other product categories on the platform.
Flipkart certifies that all the products will be fully functional. “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, vice president at Flipkart, Live Mint reported. Goteti will be heading 2GUD along with Flipkart Marketplace.
Flipkart’s latest move to launch a new platform for refurbished products comes after eBay’s decision to break up with the company. Bengaluru-based Flipkart managed to raise $1.4 billion from giants such as Microsoft and Tencent. Approximately $500 million was invested by eBay in the equity stake along with selling its Indian arm.
Flipkart has taken several steps to expand its online business. In September 2017, the e-commerce giant acquired F1 Info Solutions, a company dedicated to mobile and IT services. This acquisition has now been integrated with Jeeves, the platform that supplies home appliances and furniture.
In addition, Flipkart announced that it has also purchased Bengaluru-based artificial intelligence (AI) startup Liv.ai, which has developed a platform that converts speech-to-text in nine regional languages other than English. With this acquisition, Flipkart hopes to offer an seamless shopping experience for consumers.
Elton Gomes is a staff writer at Qrius
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