New Delhi, Aug 5 Global supply networks have been affected by the Covid-19 pandemic's attack, driving up the cost of new goods. Indian consumers are increasingly interested in reconditioned electronics as the cost of smartphones, laptops, and a variety of other electronic products continues to soar.
In recent years, there has been an exponential increase in demand for refurbished technology. In addition to the interruptions to the global supply chain, consumers have been persuaded to purchase refurbished technology due to pricing considerations, environmental concerns, and the availability of lifetime management services.
In India, the market for reconditioned electronics is anticipated to grow from $5 billion in 2021 to $11 billion in 2026. E-commerce businesses have entered this mostly unorganised market as a result of the increase in the sale of reconditioned electronics. Additionally, organised sellers made up only 1 per cent of the market in 2016, but that percentage increased to 8 per cent in 2021 and is predicted to reach 20 per cent by 2026.
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