As organized retailers increase their presence, the refurbished electronics market in India is evolving beyond bargain hunters. These merchants are wagering that improved quality standards, warranties, and buyback programs will make certified pre-owned devices a popular choice for high-end consumers.
"There has always been a latent desire. Shrey Sardana, co-founder and CEO of Grest, told ET that although Indian customers have always desired access to high-end technology at more affordable prices, the market has long lacked organized supply and reliable brands that could provide a reliable purchasing experience.The market for reconditioned electronics is expanding at a rate of roughly 12% each year. Sardana stated that organized players now account for 15–20% of sales, up from almost insignificant levels ten years ago, even if about 85% of the approximately $6 billion sector is still unorganized.

Over the next five years, he predicts that proportion will treble to 30–40% as more people select certified products with warranties, clear grading, and after-sales support.
"Creating demand is no longer the opportunity. It's about creating the trust and infrastructure necessary to meet the long-standing need," he stated.
Additionally, the source of demand is shifting. Due to their price, refurbished smartphones were formerly mostly purchased in Tier-II and Tier-III cities. That isn't true anymore. According to Sardana, demand is growing just as quickly in metropolitan areas, where consumers are choosing certified refurbished goods because they are confident in the product's quality and purchasing process. Currently, Tier-I cities account for half of Grest's revenue, with the remaining portion coming from smaller areas.

Apple products continue to drive the fastest growth in the premium smartphone market. More than half of India's used smartphone industry is accounted for by Apple, according to Sardana. The company's proportion of new smartphone sales has also grown recently, increasing the number of handsets entering the refurbished ecosystem. As consumers seek more affordable access to high-end devices, demand for MacBooks and iPads is also rising.
But the largest obstacle is still supply. According to Sardana, trade-ins through a number of retail partners have increased to roughly 25% of newly sold devices and are predicted to expand to 35–40% over the coming years. To guarantee a consistent supply of gadgets, the company has established sourcing alliances with major electronics retailers, insurers, logistics companies, local resellers, and Apple Premium Resellers."As the market develops, companies who sell reconditioned equipment won't be the only winners. Since supply is ultimately what defines the potential to scale in recommerce, they will be the ones to construct the greatest supply infrastructure, he said.
In an effort to boost customer confidence through physical retail, Grest, which recently established six stores in Delhi-NCR, intends to grow to more than 20 locations by the end of this year and 200 locations over the following three years.