Flipkart launches new platform, 2GUD, for refurbished products
BusinessToday.In August 22, 2018
Home-grown online giant Flipkart, now backed by Walmart, has launched a new platform for refurbished goods. Called 2GUD, this platform is only on its mobile site now. 2GUD will eventually be available on across desktops and other channels. The site is rolling out laptops, smartphones, tablets and electronic accessories. Large appliances would be added to the catalogue soon.
Prices of the products will vary from 50%-80% of the original price depending on the certification of the product.
"This (refurbished site) is for the aspirational customer in India. The refurbished market is unorganised and we want to organise it and break the barrier of trust," said Flipkart's CEO Kalyan Krishnamurthy.
This move comes as per Flipkart's plans following eBay's decision to part ways with the company. Flipkart had acquired eBay's India unit last year as it raised $1.4 billion from tech giants such as Microsoft and Tencent. eBay also invested $500 million in equity stake along with selling its India arm.
Flipkart decided to launch a new platform to replace the eBay space after the latter decided to bow out following US giant Walmart's acquisition. To buy and sell within India, users will have to visit Flipkart's website, while you can still register on eBay and continue to buy and sell through eBay.com or other eBay sites internationally.
According to a report in The Economic Times, several members from the eBay team have been integrated with Flipkart's 2GUD team. Products on offer on 2GUD are refurbished either using Flipkart's F1 Info Solutions or other third party services. The company also offers a post-purchase warranty of 3 to 12 months.
Flipkart will be competing with platforms such as Zefo that offers second-hand refurbished products across categories. This platform will enable the company to further reach out to customers from tier 2 and beyond.
Moreover, the home-grown ecommerce giant also recently announced that it has acquired Bengaluru-based artificial intelligence (AI) startup Liv.ai, which has developed a platform that converts speech-to-text in nine regional languages apart from English. With this move, the e-tailer hopes to soon offer an end-to-end conversational shopping experience for its users.
(Edited by Anwesha Madhukalya)