Refurbished electronics is one of the biggest growth stories of the pandemic, after healthcare. The demand explosion due to WFH, clubbed with dropping disposable income due to lockdown/recession, is making more customers choose refurbished mobiles and laptops over new ones.
The Great Depression created the second hand car market in the US. Today US sells 3.5 times more second hand cars than new cars every year. The pandemic is bringing the refurbished industry mainstream in India, but much faster and at a much more massive scale. Because the biggest sector of India’s refurbished marketspace – Tier 2 towns, are a white space today with no established brands or distribution network.
HX is changing that by quickly building a 250-strong network of stores across India’s Tier 2 towns and suburbs, utilizing local franchise partners, who understand the local environment, buying patterns and have the entrepreneurial zeal to take the brand ever deeper into smaller towns and villages.
Largely bootstrapped home grown market leader HyperXchange and it’s journey from 10 devices to 10,000 a month, disrupting a 100 billion dollar global refurbished electronics industry using patented technology, a journey of a startup of Kolkata, with a projected turnover of 100 crores for this fiscal.
A story not much heard of in Kolkata. It’s time to bring this startup in front of the world. With many ups and downs, almost wiped off with the first pandemic wave from a strong year before and then getting a hockey stick curve growth, not many startup in india can boast of currently.
How Faraday, Elvis and 100 days 100 cities is changing the way, environment will be impacted, the most positive outcomes and breathing life to a network which is now getting organized and thriving