Diversifying and expanding its association with offline retailers, the popular re-commerce platform Cashify will help offline retailers sell refurbished smartphones online. Cashify's acquisition of UniShop, an omnichannel retail solution platform, will enable businesses to open a full-fledged online store. This new service line will be rebranded as PhoneShop.
Cashify has been supplying refurbished smartphones to offline mobile retailers. However, due to limitations, these retailers have been selling the refurbished phones only offline. This new service line will help offline retailers expand their market to online space, and even help them earn more.
"The collaboration resonates well with Cashify's commitment of democratizing technology as well as growing strategically in the e-commerce space. Further, we see this as an extension of our team and are excited to have Unishop as a partner, as they have a great understanding of the market and retailers' needs, especially in a Covid world where retailers must go digital to reach the highest potential. With UniShop's tech team and our acumen, we are sure that this product will bring direct-to-customer internet channels to neighbourhood shops and services to not just survive in this pandemic but see it as a long-term business growth opportunity," says Nakul Kumar, COO & Co-founder, Cashify.
UniShop, through its omnichannel suite, provided retailers with solutions for management, clienteling, multiple billing modes, stock management, online store development, custom domain, marketing, multiple payment options, personalized promotions, and more. Hitashi Garg, founder - UniShop, Ankit Kushwaha, CTO- Unishop and the rest of the team will now be a part of Cashify.
The re-commerce platform Cashify is in expansion mode. Primarily an ecommerce portal, Cashify has 60 offline stores in the country. In June this year, the company shared its plan to increase its offline retail stores to 150 by the end of 2021. While the company has stores across the country, it is looking at the untapped market - south/west and central regions.
Until now, Cashify provides services related to smartphones laptops, tablets, smartwatches, DSLR, gaming consoles and earbuds. The company is also planning to broaden its offerings by including more product lines in the future. However, the smartphone category will continue to drive a majority of their business. The founder believes that in the smartphone category, the refurbished market will perform better compared to the new smartphone market.
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