Flyrobe: Shaping the collective consumption in India

Abstract

A second hand product is that which is being purchased by or otherwise transferred to a second or later end user. As economy sees a slump with the cost of capital invariably remaining high, the volume of India’s second hand and recycled market which includes fast moving consumer products, automobiles and industrial raw material & machinery has been growing significantly and will continue to grow to $25 billion by 2020. High interest rates, risk aversion and subdued investment appetite have resulted in people considering retrofitting and re-usage of multitude of items like Consumer goods (electronics, durables), Automobiles, Industrial machinery etc. This trend led to rise of many players in India who have entered to capture different sectors of this market. The first successful players in this industry were in form of online classifieds and they worked on the network effect principle. Following them were players like Shopo, a platform wherein SMBs as well as individuals can install a store and sell used or new goods and eBay Choices by eBay India, specific platform for selling refurbished products