Just after CEO Kalyan Krishnamurthy announced the closing down of e-bay last month, Flipkart is yet again back with its latest e-commerce platform for refurbished goods that it had revealed then. Termed as 2GUD, this would be the company’s first venture into the refurbished goods market, and in all hopes, expecting a turnover of $20 billion which is roughly ₹1,39,740 crores market value in 5-6 years. Flipkart’s 2GUD platform would initially only stock refurbished smartphones, laptops, tablets, and electronic accessories, though this would also extend to other categories including home appliances in the future. Also, this platform has already gone live.
The Walmart-owned e-commerce giant here added that all the refurbished products on 2GUD have been “thoroughly tested and certified with warranty”, something which claims to help mitigate the trust issue in the space that it claims is “still largely unorganized.” Flipkart’s 2GUD thus would provide a post-purchase warranty ranging from 3 to 12 months, and that products sold would be serviced through a network of service centers across the country.
Flipkart’s 2GUD platform would be available only via the mobile Web, however, soon be made available via a desktop Web interface and mobile app, apart from “other channels” that remained unnamed at this point. Of course, the company added that the platform would definitely remain “distinct and separate” from Flipkart, and is targeted at “value buyers.” To recall, at the time of the eBay India closure announcement, Krishnamurthy had said the new refurbished goods platform would be built on the “learnings from eBay.in”. In fact, eBay India officially ended its operations on August 14.
In the words of Krishnamurthy, “As a market leader, Flipkart has always tried to solve for India and offer a more fulfilling shopping experience in every aspect. 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 the most affordable prices”.
To conclude, Anil Goteti, VP, Flipkart, who will be heading 2GUD along with Flipkart Marketplace added that, “The refurbished goods market has remained highly fragmented and unorganized despite its size, primarily due to complex processes, and missing assurance on the quality of products. Unlike existing C2C platforms, 2GUD offers an organized space devoid of regular buyer-seller interactions, which simplifies the process for both parties. 2GUD further leverages Flipkart’s capabilities in the service and support network to make it the preferred destination for certified, great-quality refurbished products”.