Earlier SecondaryMarket.news published an article on India’s secondary smartphone market unprecedented growth, with over 38 million units sold in 2023, according to research firm Gartner. Of these, 30% were refurbished, reflecting a strong demand for sustainable and affordable technology. The market is projected to reach a value of €4.7 billion by 2026, a significant rise from €2 billion in 2023. This growth positions India as the third-largest secondary smartphone market globally, trailing only the USA and China.
Bengaluru, known as India’s Silicon Valley, has become a vital hub for secondary smartphone sales. The city’s tech-savvy consumers, high disposable incomes, and demand for cost-effective, sustainable solutions have made it a focal point for industry expansion. Cashify, an omnichannel platform for pre-owned smartphones and gadgets, is capitalizing on this trend by expanding its retail footprint.
Cashify strengthens presence in Bengaluru region
Cashify has announced the launch of its 15th retail store in Bengaluru region, further solidifying its commitment to the market. This expansion contributes to the company’s 35-store presence across South India and a nationwide network of over 200 stores. The move aligns with Cashify’s strategy of blending online convenience with offline trust, allowing consumers to buy, sell, and repair devices seamlessly.
A city with strong consumer trust
Mandeep Manocha, CEO and Co-Founder of Cashify, emphasized Bengaluru’s importance in the company’s growth journey. “After Delhi, this is the city where we have the highest number of stores. The overwhelming response from Bengaluru’s consumers reaffirms their trust in our vision of providing accessible, affordable, and sustainable smartphone solutions,” he stated.
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