What are Refurbished Products?
Generally, if a product is refurbished, it may have been used a bit or is returned from the buyer due to various reasons. The product undergoes checking and testing the same as the new product, but it is not considered a new product. Electronic goods, like laptops, hardware components, mobile parts and other reconditioned products can be sold as refurbished products on online platforms like Xfurbish, eBay etc. There is a growing trend in the eCommerce industry of refurbished products in recent times.
Many choose to buy refurbished products rather than new ones as they undergo similar testing and are way cheaper than the original one. Also, if a small part of a laptop is broken, one cannot choose to buy a new laptop, they have to get it repaired. And, buying a new hardware component for an older laptop or mobile is also not worth it. Depending on the product, its lifetime, the parts of the product and user requirements one can decide on buying a new one or a refurbished product.
Here we have a list of the best market places that sell refurbished products on the Internet.
- Amazon renewed :
Amazon has started its journey by selling books, and now it has almost all the products including handlooms from local markets, electronic goods, home storage, etc. Amazon renewed has started to sell refurbished products, that are sold by the sellers after reconditioning, and undergoing testing and checking like a new product. The seller needs to check with all the required accessories to be shipped with the product. Amazon renewed sells products like Smartphones, laptops, cameras, smart gadgets etc.
- 2GuD by Flipkart:
Flipkart started its own initiation of selling refurbished goods, naming it 2Gud. The electronic commerce centre, which started in 2019, sells electronic goods like mobiles, laptops, home appliances, audio devices like headphones, soundbars, smart gadgets, etc. All the products are mentioned with a particular warranty and reconditioned before selling. It has increased its growth in lesser time. The seller protection is maintained and Flipkart assurance builds trust in sellers as well as buyers.
- Xfurbish:
Xfurbish is an online marketing lace to sell or buy electronic goods, that are refurbished and go through testing, checking and inspection just like a new product. Xfurbish is a huge market that has laptop parts, servers, networking, mobile spare parts, electronic boards, etc. Internal Electronic parts or components aren’t easy to find, even if found compatibility may not be guaranteed.
But, in Xfurbish you will find various compatible brands and specific models for all the components of laptops or mobiles. It started its journey in recent times but has grown well in the industry.
- Back market:
The Back market has international standards, selling refurbished goods, like electronic goods, laptops, TVs, headphones, etc. It also sells refurbished apple products from the factory, product listing is made through machine learning. This online market has gained much popularity in just a few years. The products are displayed after going thorough inspection and quality check.
- Facebook marketplace:
Facebook is a well known social media popular globally, and it introduced online marketing into its platform in recent years. It gave scope for many local markets to engage and sell their products. These products are displayed with relevant descriptions and pictures on the Facebook marketplace.
The processing fee for product listing is absolutely free, and it has the benefits of promoting marketing and could reach more audiences through social media.
Things to know before selling online refurbished products:
- Research the products which you want to sell, study the online market, and know which market is best for your products based on its category.
- Understand the Market traffic, before selling your product in a particular market, analyse its traffic, whether it attracts more users or not. Website traffic is an important factor to check before selling your product.
- Analyse the fee policy for selling products, there are different types of fees like insertion fee, store fee and commission fee. The Commission fee is a percentage of profit or gains to be paid to sell on their website, Insertion fee is nothing but the product listing fee, some websites charge for this, while some websites like Xfurbish and Facebook marketplace don’t charge any. Store fee is like a registration fee, again some may charge and some may not.
- Check which websites offer better pricing or fee policy for your products, based on their traffic and steadiness.
- Check with the support from the marketplace, whether they offer seller protection or not, whether they have a quick response to the users, research and study the reviews of the marketplace.
- Also, have a quick analysis of rules and regulations, study thoroughly all the conditions mentioned to sell the product, and whether there are any mistakes posed in the contract or whether you could fulfil all the mentioned conditions.
- Understand the shipping and logistics to sell the product, and whether the website could offer any help regarding that.
- Check with the website, if the marketing is manageable, some markets do not have such capable advertising or marketing platforms, while some websites offer it.
Strategy to sell Refurbished goods:
- First things first, any product needs an appropriate title and product description with better quality pictures. Genuine pictures gain more attention. Product content plays a major role in selling a product.
- Reviews have to be encouraged by the buyers so that the upcoming orders can take place. Make sure you give the best service for the buyers, like on-time delivery, tracking for the purchase, and quality products. Defective products or late delivery may result in a negative review, which might affect the upcoming sales.
- Shipping and Logistics are important for any seller, when a product is ordered it undergoes packaging and delivery through various places to reach the destination. So, the single products or delicate products need better packaging in order to avoid any breakage or loss of products.
- Maintaining contact and quick response with the eCommerce site, whenever the buyer raises an issue. So that the eCom site would respond the same to the buyer quickly and could resolve the issue.
- Advertising your product is a good strategy for marketing. Some markets used Goggle search analytics to reach customers, and know the best marketplace that uses better search engines and marketing strategies.
Calculate and analyze your pricing and the commission price that you pay for the eCommerce sites. So that you will have an idea of how much price to fix for a product based on the market. Search all the similar products and their pricing in the market, and fix a price which is not very low or not very high, as both the ways you may lose sales. Understand the need of the audience, pricing a product as 699/- only may look smaller than pricing at 701/-. Try to make the prices look smaller and beneficial for you.
Being a seller isn’t an easy job, but with the right strategy and right market analysis, you could sell your products in the best marketplaces at better profits. Study the market, collaborate with better shipping and logistics, and minimize the complaints from the buyers. Ecom sites like Xfurbish provides a better platform for sellers, with less price, protection and guidance on the shipping process.
