Have you ever wondered what to do with your old gadgets when you buy new ones? Is there someone you know who has thought the same? Well, you are not alone. Gadgets and technology get obsolete every day. Many people switch to newer tech products to enjoy the latest occurring in the market. However, they need an idea about what to do with these old products. Sure, you can sell these products to the local shopkeeper or give them to any of your workers. But let’s think of something big! Let’s think about creating a business out of used gadgets and earning good money by leveraging the demand for used gadgets. According to a report by Redseer, the used electronics market will reach a valuation of US$ 10 billion by 2026. Today we will tell you everything you need to know about selling gadgets online in India. The pros, the cons, the market, and best of all, how to succeed? So, let’s begin!
How to Sell Gadgets Online to Earn Money?
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- Launch your Platform: Entrepreneurs who aim to make a name in the market can even launch their own websites on which they can sell these gadgets. They can learn from the infrastructure set up by Cashify and learn from it. Launching your platform may require you to buy a domain, hosting, and professional mail and may require other investments. So, go for this route if you have some cash to put into your business.
- Use Online Retailers: Beginners and even professionals can sell used gadgets on online retailers like Flipkart, Meesho, Amazon, eBay, Cashify, and much more. These refurbished products are thoroughly checked by online retailers before listing them on the website. You gain benefits like a huge user base, great marketing capability, and high earning potential by using this route. If you do not aim to source products extensively, it is a good idea to sell used gadgets already available on online retail platforms.
- Use Social Media: Social media can be a game changer when you are starting out your business. You can create professional marketplaces on Facebook, Instagram, WhatsApp, Telegram, and many more platforms to start selling your used gadgets. You can gain benefits from your personal contacts and through huge user bases on these social media platforms.
Best Online Retailers to Sell Gadgets and Earn Money
1. EarnKaro: EarnKaro is an online affiliate marketing platform through which you can share a large variety of products with your network and earn money. For gadget sellers, there are different offering websites partnering with the platform, which will help you earn money by selling these products.
2. Meesho: Meesho, one of India’s top resale applications, was launched in 2015 by two IIT Delhi graduates. Gadget resellers can browse Meesho’s product catalogue as and tell their pals what they find. If their friends like and purchase the product, they will be compensated. Additionally, this software provides a number of opportunities to make money.
4. Flipkart: One of the most well-known online retailer apps in India, Flipkart offers about 30 million products in 70 distinct categories and gadgets are also one of them. The financially sound business platform has over 75 million clients listed and receives about 10 million daily visits from a wide range of users.
5. Amazon: Amazon is a well-known app with the biggest user base across the globe. The online marketplace promotes a variety of goods, particularly technology-related items. Its versatility allows it to be used in a variety of languages, which is extremely convenient for those who like to do business in their mother tongue. Amazon allows resellers to list their refurbished products after thorough product checks and gives them the Amazon Renewed tag, which means the products are of the best quality.
6. Cashify: Trusted by more than 60 lakh consumers, Cashify is a premium online gadget reselling platform. The platform rated highly at 4.5 deals in phones, gaming consoles, ACs, DSLR Cameras, Cars, and many more. The app has a simple procedure to sell your gadgets which includes you checking the prices, scheduling a pick-up, and easily getting paid.
7. OLX: One of the easy-to-use online reselling apps, OLX has a wide reach with a huge market for gadgets. The company is well-liked by many customers due to its user-friendly interface. The platform also has a unique chat-first feature that allows users to understand the authenticity of the seller. Loved by many, OLX is a great place for gadget resellers to start their business.
8. eBay: Resellers can sell used electronics on eBay, one of the first and most well-known online reseller apps in the world. If you have bulky products, eBay gives you the option to localize the listing of such items for easy delivery. The app has hundreds of millions of downloads to date and currently has a 4.6-star rating.
9. Glowroad: An outstanding software for people looking to launch a reselling business and make money from the comfort of their homes, Glowroad can be a great place to sell used gadgets and make good money. Glowroad’s network is spread across more than 2,000 cities and can help you launch your gadget reselling business in no time.
Quikr: Quikr is a one-stop shop for purchasing and selling a variety of electronics and appliances. With simple and safe online transactions, customers, as well as resellers, can have a fantastic time purchasing and selling products from the comfort of their own homes.
Why should you think of selling used gadgets in India?
- Indian Poverty: In 2023, everyone needs and wants a smartphone. Even though companies like Vivo, Oppo, and Xiaomi have brought the best features in the market at an affordable rate to the customers, these prices are still much higher than what an average poor person in India could afford. These people are one of the top buyers of used smartphones. They visit shops and agencies that arrange used mobiles and smartphones for them at a much cheaper price than the original. India has more than 25 crore people who live below the poverty line. This huge potential customer base can be a part of your online business.
- Emotional Value: For people who can afford to buy electronics just for the sake of it, the emotional value of products holds high importance. These people buy used gadgets to keep them as memorabilia or to get the nostalgic feel of gadgets that are no longer available in the market. The top gadgets under this category include video games, old PCs, tape recorders, old mobile phones, and much more.
- Unorganized Market: Reselling old appliances & gadgets has been a very unorganized task up until now. Entrepreneurs have just started to realize how much they can earn from this business. There are only a few players in the game who are available online for anyone who needs used gadgets. You could be one of them. You could set up your connections with on-ground buyers and suppliers and start selling these products at profitable margins.
- Price Elasticity: Since these old gadgets do not come directly from the company and no retail price is available, their prices remain highly flexible. You can buy them at the lowest prices depending upon your negotiation skills and sell them at a price set by you. You can balance your profit and customer expectations to strike a good price for every product.
- Online Selling Platforms: The technological revolution has improved the working of every kind of business, and reselling gadgets is no different. You can choose any online platform, from Amazon, Cashify, Flipkart, eBay, etc., to sell your old products or even choose to create your own website to launch your business.
Things to keep in mind before Selling Used Gadgets Online
Even though the used electronics industry comes with a lot of pros, it is not free from some problems. Take a look at our top cautions before starting to sell used gadgets online.
- Customer Loyalty: Unless you are selling these products through online retail giants like Amazon and Flipkart, it can get really hard for you to gain customers’ trust and make them loyal to your brand. Customers do not easily get tempted to buy from newer websites when it comes to gadgets.
- Pricing: Since there are no set guidelines about how to price your used gadgets, it can become a problem to find buyers at your decided prices. You will need to have deep knowledge of the market, which will help you gain a better understanding of how to price your products so that customers may want to buy them.
- Product Condition: Selling used gadgets can be a great business, but you need to ensure that you are only sourcing the best and original products for your customers. This means having a knowledge of whichever product you are dealing with and checking the condition and originality of the gadgets before selling them.
Affiliate Marketing along with Gadgets Reselling
To maximize your profits, you can combine your gadgets reselling business with affiliate marketing. You can share new and used electronics from different websites with your network and earn commission whenever someone purchases a product through your link. Use trustworthy platforms like EarnKaro to maximize your earning potential.
Conclusion
Selling used gadgets can be a great way to earn huge profits. There is great potential in the market, and you just have to use the best tactics and resources to leverage this opportunity. If you have come this far, you must now have all the needed information to start your gadgets reselling business. Now, all you have to do is start. Good luck with your journey!
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