New Delhi, March 20, 2019:
- Evolved business from repair to recommerce in just 5 year
- Registered the remarkable YOY growth of 250%
Yaantra, India’s leading recommerce company in smartphones & wearables received ‘The Fastest Growing Recommerce Company of the Year’ award in the recently concluded 2nd edition of Global Leader’s Summit 2019, Dubai. Yaantra emerged as the top performing company from the 2000+ best companies who applied for the awards. Yaantra has grown remarkably fastest with a YoY growth of over 250% in a short span of 5 years.
India is today the world’s fastest-growing smartphone market. The recommerce business in India is projected to witness a sharp growth with a CAGR of more than 35% this year. The refurbished smartphones market is set to grow by 27% in coming years, where the market size for the refurb is expected to reach USD 10 Billion by FY2022. As per reports, out of nearly 800 million mobile phone users, only 400 million users are currently using smartphones. Recommerce will absolutely be a catalyst in bridging this digital divide of over 400 million people who are still on feature phones.
Jayant Jha, Co-founder & CEO, Yaantra said, “Getting award is always good, but winning back-to-back ensures that we are firm and going right towards our vision and values. Technology is drastically changing education, healthcare, and financial services in India. Smartphone is the primary medium and catalyst for bringing this change while connecting technology with people. Yaantra’s operational efficiency, partnerships across the ecosystem and optimal use of technology ensures trust, convenience and value for money to all our consumers. With its recommerce concept and efficacious business model, Yaantra has the potential to bridge digital divide in India between people who have access to technology and those who don’t due to unaffordability. At the same time, we are disrupting the generation of e-waste and help save the environment.”
Innovation & constant evolution in technology keeps on adding new features and higher specifications which provokes the consumers to change their gadgets quite often. Yaantra primarily taps the first-time buyers who want to upgrade from feature mobiles to smartphones besides the students and technophiles who like to keep changing their devices regularly. Yaantra is fulfilling the huge untapped supply of used smartphones which are getting replaced every 15 months besides addressing the huge unmet demand for branded devices in good condition at lower price points, from a trusted source, with quality assurance. Delivering on ‘as good as new’ operating philosophy, Yaantra gives the power of a trusted choice, complete peace of mind with no compromise on quality for the consumer with absolute standardization of doorstep services.
Yaantra, being the leader in the refurbished category is prominently positioned in meeting the affordability factor and aspirational requirements of the common man. In addition to this, Yaantra is serving as an Exim bridge for export of refurbished phones to other emerging markets and import of used smartphones for refurbishment because of labour and cost arbitrage.
Newsvoir
