Sulekha.com, one of India’s leading players in Local and Social Commerce, Online and on Mobile, today announced the results of a study undertaken on the Used Household Items Market in India. This study—a first-of-its-kind analysis of Used Household Item Sales and Purchase behaviour—has been conducted using Sulekha.com’s database of over 196,000+ household items listed on its site between January and November 2010.
The study covers market trends in New Delhi/NCR, Mumbai, Chennai, Bangalore, Hyderabad, Pune and Kolkata.
Key interesting findings:
- Getting a ‘Better Price than Exchange Prices (offered by retailers)’ is the most important reason driving individuals to sell their used items online.
- Mobiles, Home Appliances, Furniture and Computers/Peripherals top the list of categories wherein 1.96 lakh individuals are listing their used items online for sale.
- Selling used mobiles on the internet is popular across all metros, led by Delhi/NCR and Bangalore.
- Televisions, refrigerators, washing machines and audio systems/home theaters constitute 74% of all used appliances sold online.
- Several niche categories like musical instruments, health/sports products, cameras, bicycles and business/office products are also having substantial volumes of 1500 to 5000 sellers in most cities.
- ‘Moving to a different city/house’ and ‘clearing old stuff/making space’ are the second and third most important reasons respectively for the sale of used household items.
The Diwali context
The study has taken into consideration the recent Diwali exchange prices to analyse the savings obtained by consumers by selling their televisions/mobiles/refrigerators on the internet. As the study indicates, the savings obtained have been substantial. When compared to the retailers’ (exchange) rates:
- An 8-year old television set could get 2.3 times the resale value, on the internet
- A 2-year old mobile could get 3.1 times the resale value, on the internet
- A 6-year old cot could get 4.5 times the resale value, on the internet
Sale of Used Household Items Online – Analysis and Trends
Download the Report at the link below
Commenting on the study and analysis, Satya Prabhakar, CEO, Sulekha.com, said, “Compared to 2009, we have seen an 80% to 150% increase in the number of used household item listings across several sub-categories, as buyers and sellers discover that it is of great value to find each other on the internet. This study shows that individuals are saving Rs 5,000 to Rs 20,000 on every transaction by selling their items to other individuals, instead of opting for exchange offers from retailers.”