Are you really interested to pile up the e-waste at your home? Most of us would obviously not gonna say yes! So, why do we create a museum of old Smartphones at home? The answer is – we actually do not know how to do away with those outdated or irreparable pieces. Here are some fantastic and simple ideas which most of us can surely try sitting at home only and earn cash by clearing our cupboard and filling our bank accounts.
What to do with Refurbished phones to earn some cash?
Nearby shops which do sales of new Smartphones, repairs and also buys old Smartphones for their low tickets customers. Customers who aspire to buy high-end models but unable to afford brand new product due to high prices are the targets of the shopkeeper who buys such old phones and sells refurbished phones with some margins. But do we have time to go to the secondhand shops to sell? Apart from the time constraint, we always doubt on the pricing offered by such shopkeeper due to lack of any trustworthy mechanism of deriving price. As per industry estimates, about 75% of secondhand Smartphones in India are still sold in this traditional and unorganized market due to lack of awareness on other smart methods.
Directly customer to customer (C2C) selling is what matters comparing the traditional shopkeeper method. Quicker and OLX are the best platforms that enable customers to display classified advertisements of old Smartphones. The best part of this channel is that you are directly reaching to a large customer base who wants to buy secondhand Smartphones in a cheaper range. The only challenge with this set-up is the time-frame in which you could sell your stuff. No one knows how much days or months or years will take to sell your old phones at your desired price. So, as much as you wait to get a fair price of your phone, the price in the secondhand market keeps reducing.
Offline Exchange Offers by OEMs
Original Equipment Manufacturers (OEMs) are the ones who bring newer models of Smartphones at least twice in six months or more. Since they see India as a second largest Smartphones market, they bring exchange offers to keep rolling newly launched Smartphones in the market. Serious customers can definitely go and avail these offers as there is no harm in case the exchange value is worth buying new. But then too, this option is only available if we want to buy a new one of the same brand. If you have Lenovo’s old model and want to buy Samsung’s new model, you may not be offered exchange under this route.
Online Exchange Offers by e-Commerce Platforms
Amazon, Flipkart, Snapdeal, Shopclues and many such more are playing best role in the penetration of internet in the country by bringing best of the Smartphones offers to the customers across the country. One of such e-commerce offers under Smartphones category is to buy-back the old phones under an exchange programme and at the pre-decided flat value of each and every brand and models. This certainly gives relief to those who want to buy a new one and wants to also do away with any old model in place. But here the pricing offered is flat and pre-decided on every model which does not consider the phone’s current condition.
The best solution should be – price discovery on performance-based and instant cash in return of appropriate old phones. Read the last and the best option available on making cash out of trash!
Customer to Business (C2B) Apps
In the countries like China and US, there are many C2B apps where customers can easily sell old Smartphones and get the quick bucks in the bank account/wallet. India is the next evolving C2B market of refurbished Smartphones and about Rs. 7 cores of business churn under organized channels, unlike the traditional shops where price discovery is not done scientifically. InstaCash, Cashify, and Atterobay are the Indian C2B apps which buy any Smartphones instantly based on the scientific price discovery technology.
Scientific Price Discovery
In above all four channels, a scientific grading and price discovery technology was missing, which C2B apps have enabled to a customer right in their hands. Under this revolutionary technology, the app scans the phone’s scientific performance and provides its grading quickly with a price offer. So, we get customized pricing of a phone unlike a flat exchange pricing offered by e-Commerce platforms.
Quick Pick-ups and Payments
With the evolution of tech backed logistic market, the quick pick-ups of the old phones have become reality as these are being monitored with the data registration. The customer sets their own choice to time and date; pick-ups are lined-up accordingly. During pick-ups, again the parameters on which the pricing was agreed is audited by the pick-up expert and reported to the data-center. If a customer has acted honestly on the responding parameters at a time of scientific check, the price agreed is locked and paid immediately and directly to the bank account or wallets, as per customer’s choice. If parameters are not matching at a time of pick-up audits, the revised price is offered to the customer.
What happens to Secondhand Smartphones?
What happens to these old refurbished phones is the second interesting mysterious fact. About 80% of these bulk reaches to the bulk buyers who refurbishes these phones and routes the bulks through other channels of selling refurbished phones in the tier-II markets of India. India has just 30% of phone users those use Smartphones as most of them are using internet on these gadgets. About 70% of phone users are still using feature phones in the country due to affordability reach and lack of technological awareness issues. The major demand comes from feature phone users as they aspire to upgrade to Smartphones.
All above-mentioned buy-back channels eat margins between ‘Collect-Refurbish-Resell’ chains. Under these various channels the best channels that pass on the value to the customers (old phone sellers and buyers of refurbished phones) at both the levels, is C2B channel, where the Trust and Price factors are optimized in real time when the customer satisfaction parameter is considered.