Mobiles & Tablets

Buyback scheme to drive Mobile Store sales

Priyanka Pani Mumbai | Updated on November 24, 2017

With consumers going online for mobile phone shopping, leading electronics retailer, The Mobile Store (TMS) has been trying out different initiatives to woo customers and boost sales.

The Essar Group-promoted retail chain is offering a buy-back scheme that allows buyers to exchange their old phones for a new one. Last year, the company had introduced several such offers including cash-back and easy EMIs to attract more customers.

Himanshu Chakrawarti, CEO, Mobile Store, quoted a market survey that every Indian household has at least one or two old phones that can be exchanged for a new one at a reasonable price. However, many consumers are not willing to do so on concerns of price and data transferability.

Chakrawarti said consumers would get e-vouchers, valid for a year, on every exchange of a phone. This is being offered as a door-step service in Mumbai and has received a very positive response. It plans to roll out the scheme in all major cities in the next few weeks. The buy-back market in India is estimated at 150-200 million sets. The replacement cycle for mobile phones have come down to 12-14 months as against 3-5 years a decade back on back of new launches and affordable smartphones.

Published on February 12, 2014

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