E-commerce major eBay India has set its focus on the refurbished goods segment to tap the largely unexplored $15 billion worth of offline market in the country.
According to the company officials, only $ 500-600 million worth of refurbished goods are traded online using e-commerce platforms. Currently, in the eBay's overall volumes, brand new products contribute 95 per cent, while 5 per cent is refurbished.
Company expects to increase the share of refurbished goods to 20 per cent in the next couple of years. Refurbished goods come with seller's warranty and priced at much cheaper rates. eBay data revealed that about 90 million mobile phones were sold as refurbished goods.
For the festivities, the company expects buying from non-metro towns to pick up faster with top five goods being electronics and home appliances.
"Some of the top selling goods are clothing and accessories, electronic, watches, sunglasses among others. The electronics and lifestyle products are the revenue generators for us," informed Navin Mistry, Head, Retail Exports and Lifestyle Category, eBay India.
The e-commerce industry had 45 million customers transacting online during January-December 2014 period, which is expected to touch 60 million this year and cross 100 million in 2016. "The overall pie of the e-commerce business is also getting bigger. We expect faster growth with penetration of mobile phones and internet penetration in the rural pockets," added Mistry.