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Re-commerce <keyword id="125920" type="General" weightage="20" keywordseo="marketplace" source="Orion">marketplace</keyword> Casify on Thursday said it has secured $90 million in its Series E funding from NewQuest <keyword id="330425" type="General" weightage="20" keywordseo="capital-partners" source="Orion">Capital Partners</keyword> and Prosus. The new funds will be utilised towards strengthening the team, building technology infrastructure and enhancing marketing efforts on branding, the company said in a statement. Existing investors Bessemer, Blume Ventures and Olympus Capital invested in this round, with participation from new investor, Paramark Ventures. "We look forward to stepping up our presence and offerings for our valued customers in India and fulfilling our broader goal of integrating the circular economy," said Mandeep Manocha, Founder and CEO of <keyword id="3501427" type="General" weightage="20" keywordseo="cashify" source="Orion">Cashify</keyword>. Apart from smartphone buyback, Cashify has become a smartphone-centric brand with comprehensive mobile care at users' doorsteps. Cashify has more than 40 lakh customers and is a buyback partner for brands like Apple, Xiaomi, OnePlus, Vivo, Oppo, HP, Samsung and Dell in India. "While there is a large opportunity set in the re-commerce space, Cashify has a clear edge as a category leader with its focus on customer experience and its data and tech-first approach," said Amit Gupta, Partner and Head of India and Southeast Asia, NewQuest. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/long-covid-symptoms-can-last-up-to-two-months-in-children-says-lancet-study/articleshow/92400864.cms">Long Covid symptoms can last up to two months in children says Lancet study</a> <a href="https://www.businessinsider.in/business/news/itc-seizes-the-market-its-sales-surpass-their-pre-pandemic-levels/articleshow/92400727.cms">ITC seizes the market; its sales surpass their pre-pandemic levels</a>

Recommerce platform Cashify raises $90 mn in its Series E funding

<ul><li><keyword id="3501427" type="General" weightage="100" keywordseo="cashify" source="Orion">Cashify</keyword> recently roped in <keyword id="3677061" type="General" weightage="20" keywordseo="rashmika-mandanna" source="Orion">Rashmika Mandanna</keyword> to spread brand awareness in the Southern markets, a part of its <keyword id="6354839" type="General" weightage="20" keywordseo="marketing" source="Orion">marketing</keyword> focus for 2022.</li><li>The platform has earmarked Rs 100 crore for marketing this year, <keyword id="342913" type="General" weightage="20" keywordseo="puneet-arora" source="Orion">Puneet Arora</keyword>, Director - Marketing (<keyword id="13195371" type="General" weightage="20" keywordseo="brand-content" source="Orion">Brand &amp; Content</keyword>) Cashify shares exactly what this budget will be spent on.</li></ul> Re-commerce start-up Cashify has big marketing plans for 2022. While it onboarded actor Rajkummar Rao last year to increase the brand’s overall visibility, this year, it has roped in Rashmika Mandanna, who was recently seen in the <keyword id="17473" type="General" weightage="20" keywordseo="allu-arjun" source="Orion">Allu Arjun</keyword> starrer movie, <keyword id="6498265" type="General" weightage="20" keywordseo="pushpa" source="Orion">Pushpa</keyword>. With this move, Cashify wants to cement its position in the Southern markets. <div type="Youtube" id="3tDq7WCcd_c" title="TVC 2 TELUGU FAMILY FILM 20 SEC" thumbUrl="https://i.ytimg.com/vi/3tDq7WCcd_c/mqdefault.jpg"></div> “Cashify has a presence throughout India at the moment, including the Southern part of the country. However, we are looking to build more awareness with a face to carry out the brand message. This is the first time we're reaching out to our consumers in South India in their respective regional languages with the young and dynamic youth star Rashmika Mandanna. Rashmika is a powerhouse of talent and has a huge fan base not only in South India but the entire country. With this campaign, our objective is to increase our brand awareness in the South,” shared Puneet Arora, Director - Marketing (Brand &amp; Content) Cashify. On what was the fit between Rashmika and the brand, Arora said, “Rashmika, as we know, is a much-loved artist and a youth icon, not just in South India, but throughout the country. We found her to be a great fit to be the face of Cashify as she resonates and connects with the youth just like Cashify which has an innovative side and a youth connect. Rashmika has now become even more popular across the country after the release of her latest blockbuster movie Pushpa. She is one of the most hardworking and dynamic actresses in the industry which is why we are proud and honoured to associate with her as a brand.” The brand also has a strong marketing strategy in place for the rest of the year and has earmarked Rs 100 crore to educate consumers about what they do. Letting us in into their marketing plans for the year, Arora said, “The focus right now is to increase the top funnel by educating as many consumers in the country as possible. On the ground, we’ve focused more on a smooth and lag-free consumer experience, which is also our biggest strength. Cashify as a product is revolutionary and has made the entire journey of selling old devices customer-friendly. Coupled with our growing network of offline stores nationally we would want to be present at the convenience of our customers online as well as offline.” So far, the platform claims to have served over 3 million users and it is working towards ensuring that the entire process where users get to sell or buy the products is transparent. The aim is to also ensure that the entire experience is seamless. “We have a strong tech backend with an AI and ML-based pricing engine, which ensures users get the best possible value for their old devices. Our in-app testing does the entire functional diagnosis of a device and a complete device report is generated. If a user agrees to the buyback value offered by Cashify, he gets paid as soon as his device is picked up. We have all the systems in place to ensure that you get a fair value of your old device from the comfort of your home through an extremely smooth process. We also focus on the data safety of an old device of a customer and ensure that it is not misused through our full-proof data wiping solutions,” explained Arora. Going ahead too, Cashify will focus on building brand awareness to bring more and more people onto its platform. “The major focus area from a marketing perspective is to build awareness about our brand and category across the length and bread of our country and also to increase our retail footprint by opening 100+ more offline stores. We have an equal focus on online and offline to make transacting with Cashify extremely easy and convenient,’ concluded Arora.

Cashify is spending Rs 100 crore on marketing this year, here’s their roadmap for 2022

<ul><li><keyword id="3501427" type="PERSON" weightage="20" keywordseo="Cashify">Cashify</keyword> has appointed <keyword id="2109220" type="PERSON" weightage="20" keywordseo="Raj-Kumar-Rao">Raj Kumar Rao</keyword> as its first brand ambassador to represent the brand in all their campaigns, in a multi-year engagement.</li><li>The association with the actor comes at a time when the company is on a business expansion spree from online to offline, after having recently raised USD 15 million from <keyword id="189140" type="COMPANY" weightage="20" keywordseo="Olympus-Capital">Olympus Capital</keyword> and has acquired UniShop to diversify its omni category services to users.</li></ul>Cashify has roped in National Award winner Bollywood actor Raj Kumar Rao as its first brand ambassador to promote its products and services across offline and online mediums. The partnership is expected to give a strong face to the brand’s philosophy as the actor personifies the brand ethos which is reliability, responsiveness, approachability and dynamic personality. During this partnership, he will promote the products across digital media platforms through campaigns and promotional activities exclusively for the smartphone buyback category. The association with the actor comes at a time when the company is on a business expansion spree from online to offline, after having recently raised USD 15 million from Olympus Capital and has acquired UniShop to diversify its omni category services to users. Commenting on the association with Raj Kumar Rao, Mandeep Manocha, CEO and Co Founder of Cashify said, “It gives me immense pleasure to welcome Raj Kumar Rao to the Cashify family. He is an exemplar of a self-made actor, someone who is extremely versatile in his choice of work and roles, delivering credible, authentic content for audiences. His story is an inspiration to the ‘aam aadmi’ of India and resonates with the spirit of our brand and aims to engender the same level of trust and dependability in our products and services.” He further said, “Most of the people in India have been used to dealing with the unorganized players where there is a lack of transparency, limited selection and availability, no quality assurance or warranty, and absence of clarity about the genuineness of the gadget. At Cashify, be it buyback or refurbished phones, the users are at the helm of every transaction. Swift device evaluation, objective diagnosis, complete data security and valid bill for every device are ensured whenever anyone sells a phone at Cashify. All refurbished devices go through multiple checks before making it to the end user who gets a 6 month warranty benefit as well. We as a brand are constantly pushing the boundaries, as we aspire to be relevant and truly connect with our customers, much like the renowned actor .” Speaking about the brand association, Raj Kumar Rao said, “With the onset of COVID-19 pandemic, the concept of a distributed workforce and distance learning became a reality. Work, studies and shopping all shifted to digital and has pushed users to buy second hand gadgets but there were people who could not afford it. Cashify efforts in democratizing technology by making it accessible to all by its various campaigns is commendable. As a brand ambassador, I seek for brands that I relate to and can be impactful for, and this partnership makes me fulfil that very purpose.”

Cashify onboards Raj Kumar Rao as its first brand ambassador

<ul><li>Re-commerce marketplace <keyword id="3501427" type="General" weightage="100" keywordseo="cashify" source="Orion">Cashify</keyword> has been witnessing good growth, owing to its focus on making the process of buying used phones and gadgets seamless for consumers.</li><li>It has also been spreading awareness about the platform through its marketing and had roped in actor <keyword id="1946388" type="General" weightage="20" keywordseo="rajkummar-rao" source="Orion">Rajkummar Rao</keyword> as its brand ambassador earlier this year to connect with a wider set of audience.</li><li>It is now also focusing on expanding its offline presence, <keyword id="342913" type="General" weightage="20" keywordseo="puneet-arora" source="Orion">Puneet Arora</keyword>, Director - Marketing (Brand &amp; Content), Cashify tells us to spread its reach in the segment.</li></ul>The pandemic has brought a lot of new users onto the internet, many of who have slowly and steadily got comfortable with transacting online. Many have said how the pandemic has accelerated the country’s digital adoption, perhaps more than two years. A lot of businesses have been focused on solving consumer pain-points have witnessed good growth. There has always been a market for refurbished gadgets but it has so far been a largely unorganized market. Cashify, a re-commerce marketplace that has been working towards simplifying the process of making used smartphones and other gadgets, has been able to make the most of this gap in the market has witnessed healthy growth. Having started its journey in 2013, Cashify is reportedly trying to raise $50 million as it is planning its foray into international markets and aiming to boost its marketing. While it had been on a trajectory, the lockdown meant the platform had to completely restructure its marketing strategies. “We diverted our budgets from offline to online and TV. Online and TV content consumption was at an all-time high. We leveraged the surge in content consumption and released hundreds of blogs, articles and news posts throughout the Covid times engaging users around mobile technology,” said Puneet Arora, Director - Marketing (Brand &amp; Content), Cashify. The move had the desired effect, Cashify’s YouTube channel gained 110K subscribers in a span of 18 months. The next step was to spread awareness about what it does and what better way of roping in a popular face like Rajkummar Rao. Speaking about its first campaign with the actor, Arora said, “In June, we planned our first major ATL campaign which started with the onboarding of Rajkummar Rao as our brand ambassador. Our first campaign was an introduction to the category and its objective was to spread awareness about Cashify’s USPs of price &amp; convenience around selling and buying pre-owned Mobiles. Other USPs and gadgets will be covered in the subsequent campaigns.” <div type="Youtube" id="qvTDlsgqwYU" title="Cashify - Old Phone Means Cash - Feat. Rajkummar Rao | 30 sec" thumbUrl="https://i.ytimg.com/vi/qvTDlsgqwYU/mqdefault.jpg"></div> While the platform’s awareness majorly exists in Tier I cities currently, Arora is hopeful that in the next few months, they will be able to penetrate the largely unorganized Tier II and Tier III pre-owned goods business and market. Cashify’s current media mix includes performance, content and BTL and ATL (TV, Radio, Print and Outdoors). “Our estimated FY22 spend on marketing is around Rs 35 crore,” he added. Meanwhile, the change in strategies also brought in growth. The platform’s business grew by 2X in comparison to its pre-Covid numbers. On how the pandemic affected its business and where it stands now, Arora said, “Overall, due to the change in online shopping behavior, the pandemic helped us increase the top funnel with more and more users becoming open to transact online. The good part is that we were the first platform to revive to 100% pre-covid levels within two months of opening up and with our major ATL in Q3 our growth sustains to 2X in Q4 so far.” We do not have a sizable organised competition in the industry as of now. Our biggest asset is our large supply chain and QC line we have built on the foundation of cutting edge technology over the last 8 years. Our ML and AI based price calculator gives you the best price for your device with millions of data points being updated each day. And even if buying old phones could seem easier, the biggest challenge starts thereafter. Bringing each and every device on the QC table and adding value to it in order to re-introduce in the market at a scale like this can take years. And with each year passing by our ever improving processes and teams have made our business formidable. So, for now our biggest competition right now is ignorance which we plan to handle through marketing and stay relevant in any time and age. On where their next phase of growth will come from, Arora said, “One third of the country’s population is yet to migrate to a <keyword id="28168" type="General" weightage="20" keywordseo="smartphone" source="Orion">smartphone</keyword>. Our growth will depend on how we can educate the users to extract value out of their old phones and not let these become e-waste and pollute the environment. An old smartphone is valuable and we want every smartphone user to avail it. This way, not only will we be able to benefit millions of users but also make a much bigger impact in protecting the environment by increasing the average lifespan of an electronic gadget which otherwise would have become e-waste.” Cashify will also focus on opening more offline stores. With over 85 brick-and-mortar stores, the plan is to add another 100 stores within the next 12 months.

How Cashify will focus on its marketing and offline stores to ring in its next phase of growth

<ul><li><keyword id="1731609" type="General" weightage="100" keywordseo="oppo" source="Orion">Oppo</keyword> today launched the Reno8 T &amp; affordable TWS buds, the Enco Air3</li><li>Reno8 T features a 108MP triple primary camera setup</li><li>The smartphone starts at a price of ₹29,999.</li></ul>Surprised everyone with a mid-year update for its Reno smartphone series, Oppo launched the Reno8 T. Sitting right in the middle of the mighty Reno 8 Pro &amp; the regular Reno 8, the Reno8 T follows a revised design and an interesting camera set-up. The brand also launched the Enco Air 3 TWS buds, an affordable offering from the brand. <cmsannotation type="cmsannotation" annotationid="Oppo Reno8 T - Features" comment="subhead" text="Oppo Reno8 T - Features">Oppo Reno8 T - Features</cmsannotation> Oppo Reno8 T sports a curved 6.7-inch AMOLED display with a peak brightness of 950 nits. The display supports a max refresh rate of 120Hz with an always-on display option. Under the hood, it is powered by the Qualcomm Snapdragon 695 5G SOC, paired with 8GB of RAM. You also get an option for RAM expansion, where you can add another 8GB to the mix. For software, it comes with Android 13 out of the box with Oppo’s Color OS 13 skin. Reno series smartphones are famous for their camera prowess, and the Reno8 T is taking forward this legacy. The smartphone comes with a 108MP triple camera set-up on the back. The primary 108MP camera is paired with a 2MP depth sensor and a 2MP microsensor. The Reno8 T packs in a 4800 mAh battery and supports 67W of superVOOC charging. <cmsannotation type="cmsannotation" annotationid="Price &amp; Availability" comment="subhead" text="Price &amp; Availability">Price &amp; Availability</cmsannotation> You can buy Oppo Reno8 T from Flipkart, OPPO stores, and mainline retail outlets from February 10, 2023. The 8GB RAM + 128GB storage variant has a price tag of ₹29,999. Also, if you are buying a device from mainline retail outlets, then you can avail 10% cashback and no-cost EMI for up to 6 months on ICICI Bank, SBI Cards, Kotak Mahindra Bank, Yes Bank, IDFC First Bank, One Card, AU Small Finance Bank, and IndusInd Bank. Further, customers can avail of up to ₹2000 Exchange Bonus + ₹1000 Loyalty Bonus by upgrading to an OPPO phone through Cashify. You can also check out our review <a href="https://www.businessinsider.in/tech/news/oppo-reno-8t-review/articleshow/97571272.cms">here</a>. <cmsannotation type="cmsannotation" annotationid="Oppo Enco Air3" comment="subhead" text="Oppo Enco Air3"><keyword id="16339569" type="General" weightage="20" keywordseo="Oppo-Enco-Air3" source="Orion">Oppo Enco Air3</keyword></cmsannotation> Another addition to the growing TWS demand in India the Enco Air3 is a budget offering from Oppo. The TWS buds come at a price of ₹2,999. The TWS buds are offered in a translucent jelly case which adds a fresh feel to the design. The earbuds feature 13.4mm large drivers and come with Enco master sound effects. A major highlight of the buds is AI deep noise cancellation enabled during calls which reduce background noise. The products offer binaural low latency here with Bluetooth 5.3 transmission. The buds promise a total battery life of 25 hours. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/oppo-reno-8t-review/articleshow/97571272.cms">Oppo Reno 8T Review: Standard Reno series experience with a more attractive design</a> <a href="https://www.businessinsider.in/science/news/china-clones-three-super-cows-to-produce-milk-by-the-gallons/articleshow/97570773.cms">Holy Cow! China clones three 'Super Cows' to produce milk by the gallons</a>

Oppo launches mid-range Reno8 T smartphone and affordable Enco Air3 truly wireless earbuds in India

The long pending wage revision talks between the General Insurers' (Public Sector) Association of India (GIPSA) and the various employee unions have begun in a bad taste. The talks were held on Wednesday. The GIPSA, the lobby body for the four government owned multiline non-life insurers and the General Insurance Corporation of India (GIC Re) made their offer that was expected to be rejected and the unions rejected the same. The wage revision for the public sector general insurance employees was due from August 1, 2017. "The GIPSA offered seven per cent hike on the wage bill (without any wage arrears from 2017) or five per cent wage hike with two per cent of arrears," Sanjay Jha, Secretary Standing committee (General Insurance, All India Insurance Employees Association-AIIEA), told IANS. Jha said the AIIEA and other unions have rejected the 'disappointing' offer. According to him, the Joint Forum of Trade Unions and Associations will hold demonstrations during the lunch recess demanding a respectable wage offer maintaining insurance sector parity. "The financial position of the companies in 2017 was good. There is no reason for the management to make such an offer. Perhaps it is done to delay the wage revision further," said Vijay Sharma, President, National Confederation of General Insurance Officers Association (CONFED) and All India President of New India Assurance Officers Association. Sharma said the employees expect at least a 15 per cent hike offer, similar to what was given to the employees of Life Insurance Corporation of India. SEE ALSO: <a href="https://www.businessinsider.in/thelife/personalities/news/pankaj-tripathi-could-have-been-a-politician-like-his-character-in-mirzapur/articleshow/92403253.cms">Pankaj Tripathi could have been a politician like his character in Mirzapur</a> <a href="https://www.businessinsider.in/business/ecommerce/news/recommerce-platform-cashify-raises-90-mn-in-its-series-e-funding/articleshow/92402742.cms">Recommerce platform Cashify raises $90 mn in its Series E funding</a>

PSU insurance unions angry with the 7% salary hike offer, seek LIC-like hikes

<ul><li>The pandemic and lockdown period has brought many new learnings for all businesses, and e-commerce has undoubtedly been one of the sectors with the biggest takeaways.</li><li>As we enter a new year, we reached out to e-commerce platforms to understand what role it would play in 2022.</li></ul>The e-commerce segment has been witnessing a good growth over the last few years and has been showing no signs of slowing down in India. And why would it? Hasn’t shopping become so much easier now? We can buy anything, from groceries and perfumes to expensive jewellery, from the comfort of our homes. The pandemic further brought fundamental and long-term changes in the way people shop and make their purchase decisions. It has accelerated the industry’s growth in the country as historically offline shoppers also downloaded ecommerce apps onto their phones to shop from within the safety of their four walls. The past year and a half has brought millions of new e-commerce users, including from smaller cities and towns who now are comfortable with buying online. The industry has witnessed an uptick of 77% between 2020 and 2021 and Tier II, III cities are transacting more than ever, said a recent report by Bobble AI. This trend has pushed e-commerce platforms to embrace a wide range of regional brands and local sellers, which offer a compelling value proposition to consumers. With increasing internet penetration, e-commerce players are expecting new growth from Tier II, III and beyond, which will cumulatively contribute to $150 billion of e-commerce as per RedSeer Consulting’s report. The Indian market is expected to surpass the US to become the second-largest e-commerce market in the world by 2034, revealed another <a href="https://www.ibef.org/industry/ecommerce-presentation">report</a>. It is poised to reach US$99 billion by 2024 from US$30 billion in 2019, expanding at a 27% CAGR, with grocery and fashion becoming the key drivers of this incremental growth. As we enter a new year and e-commerce further expands its presence deeper into the country, we speak to a few e-commerce platforms to discuss what lies ahead, where would the second phase of growth come from and trends that would dominate the industry. Here’s what they had to say: <keyword id="1922572" type="General" weightage="20" keywordseo="manish-taneja" source="Orion">Manish Taneja</keyword>, Founder and CEO <keyword id="1688931" type="General" weightage="20" keywordseo="purplle-com" source="Orion">Purplle.com</keyword>: The year has witnessed major growth in the beauty ecommerce industry, ushering in the next year with great potential. In 2022, the emergence of virtual reality tools will fuel the industry. Offering virtual beauty experiences that seamlessly merge with an omni-channel approach will be the norm. Over the next year, we at Purplle will invest heavily in technology and data science advancements to further personalize customer experience. Natural, transparent beauty products, effortless shopping with shorter delivery times, data-based product development, and value-driven experiences, are some of the other trends that will emerge in 2022. Bharati Balakrishnan- Country Head and Director, Shopify India: The Indian ecommerce market will continue to evolve in 2022, with D2C brands taking centrestage, driven by growing consumer demand and local brands increasingly making ecommerce a priority. On the one hand, the new shopping habits formed over the past 18 months will become an important factor: consumers have embraced online shopping and are actively choosing small, independent brands. This means that D2C brands are here to stay, and we anticipate the emergence of a new generation of proudly Indian brands across food, fashion and lifestyle. Simultaneously, traditional brands and retailers who dominate offline are evolving to meet the demands of the new consumer - they are building to provide a consistent experience to their consumers across online and offline, and would like to use their own online stores to truly extend their brand promise to existing and new customers. It’s an exciting time to be a consumer brand in India Amit, CEO, <keyword id="9798181" type="General" weightage="20" keywordseo="olx-autos-india" source="Orion">OLX Autos India</keyword>: Rise of the prosumer: The many faces of personalisation With the majority of buyers now clearly preferring online shopping over the traditional format of in-store purchasing, the new trend is inclined towards the forward-thinking, influential and proactive prosumer. Personalisation of the products according to customers preference will be key in 2022. E-commerce marketers will need to integrate personalizing products through advanced technologies in order to provide tailor made and seamless customer experiences. In a cookie-less world, contextual marketing has reared its head in a big way. Targeting consumers has come of age - from category, to keyword, to semantic contextual targeting, now. Many more trends like crypto payments, and dynamic pricing will grow for pure-play retailers. But it is personalization for the prosumer that will chart the way forward. <keyword id="2227756" type="General" weightage="20" keywordseo="prabhkiran-singh" source="Orion">Prabhkiran Singh</keyword>, Founder CEO, Bewakoof: Live video commerce, Virtual trial rooms (or AR/VR driven fit assists), customized lifestyle products and 3D animated UX interactions are the key trends we expect to disrupt shopping experience in the coming year. Video or content commerce would be largely driven by influencer or user generated content. To drive scalability, there will be multiple SAAS companies launching solutions to simplify handshakes between brands and influencers in content acquisition, ingestion and performance driven payments space. Early movers in the space are Myntra Studio, <keyword id="8861782" type="General" weightage="20" keywordseo="trell" source="Orion">Trell</keyword> and Bewakoof Bshots. With large VC investments going into the Web 3.0 and metaverse space, a lot of the product cataloging problems around accurate sizing or fit assessment would become more trivial. We will see brands launching virtual trial rooms, 3D product shoots and fit assistants to bridge the gap between online and offline shopping experience. 3 out of 10 customers who shop on our platform would like to customize their product design and sizing. We see this as a growing trend that multiple brands will adhere to in the coming year. 3D and animated content will become a UX trend in the consumer internet industry. Animations used to be a hindrance to many designers and developers as they may slow the loading speed of websites or apps and it is data consuming. With 5G scaling up and 4G becoming a norm across the country, designers will chose to use more animations. Kashyap Vadapalli, Chief Marketing Officer &amp; Business Head, <keyword id="864887" type="General" weightage="20" keywordseo="pepperfry" source="Orion">Pepperfry</keyword>: ‘MarTech’, which essentially means amalgamation of marketing with technology, is the future of commerce where brands will run marketing in a digital and connected ecosystem to offer an immersive experience to their customers. With the advancement of technology in marketing, consumers are constantly looking for an enhanced buying experience. Thereby meaning, from 2022 onwards we will witness more technology integrated experiences like development of offline Virtual Reality shopping rooms for consumers. Since VR offers an immersive 360-degree perspective, products in virtual design, especially big-ticket items like furniture can be easily a luscious offering for customers who want an interactive experience with the product before making the decision, therefore, simplifying the buyer’s journey. Going forward, I believe, Martech will play a dominant role in the strategic priorities and investments of brands, pushing marketers to embrace digital operations and integrated customer experience. <keyword id="12792513" type="General" weightage="20" keywordseo="shubh-darpan" source="Orion">Shubh Darpan</keyword>, VP- BI &amp; Analytics, Cashify: From the trends we have seen over the past couple of years, we at Cashify believe that the demand for refurbished mobiles is here to stay. It started with the pandemic and subsequent lockdowns when having a mobile became a necessity. Refurbished devices such as smartphones, laptops, tablets, etc. were seen to be preferred by the Indian consumer. Mainly because of the economic aspect of it, the refurbished market has seen an upward motion in India. Moreover, with the shortage of chipsets, there have been fewer smartphone launches in recent times. This too has been a factor in pushing consumers towards refurbished mobiles. Refurbished smartphones offer an optimal and sustainable solution to today's tech-dependent world and we can see it going a long way. Gitanjali Saxena, Business Head - Global Luxury, Tata CLiQ Luxury <div type="image" title="Gitanjali Saxena, Business Head - Global Luxury, Tata CLiQ Luxury" msid="88446509" hostid="261"></div> Inherently, shopping is a social experience. As people continue to spend an increasing amount of time online and on social media, online shopping, which witnessed a huge boost because of the pandemic, is now also becoming social. Social shopping, which is already booming in countries like China, has been gaining momentum in India and will be a leading trend in the coming year. Engaging and immersive formats of selling, such as live commerce, will be at the forefront. In addition, AR and VR will play a crucial role in enhancing the online shopping experience, enabling more personalization, and targeting niche customers. Some of the biggest brands in the luxury fashion and beauty industries are working closely with social media platforms like Instagram and Snapchat to leverage their capabilities of live streaming, in-app shopping, and augmented reality to offer an experience that every luxury customer desires. Snapchat has harnessed the power of technology and introduced an augmented reality lens that allows for a virtual try-on of products. Convenience, personalization, and a sense of community are some of the drivers fuelling the growth of social shopping. The advancement of technology is unlocking a slew of exciting opportunities in social shopping, including user-generated content, virtual product try-ons, direct interaction with brands and peers, and instant gratification. E-commerce platforms will reimagine their strategy to integrate social shopping elements by introducing innovative and engaging formats to bolster their reach and engagement with customers. With social shopping, e-commerce platforms can revolutionize the way people shop on their platforms by presenting a new way of shopping.

Ecommerce: The trends to watch out for in 2022

<ul><li>A number of homegrown e-commerce firms like Cashify, Togofogo and InstaCash deal exclusively in the buying and selling of <keyword id="135932" type="COMPANY" weightage="20" keywordseo="used">used</keyword> <keyword id="6354775" type="TECHNOLOGY" weightage="20" keywordseo="Smartphones">smartphones</keyword>. </li><li>The sales of <keyword id="1592421" type="PERSON" weightage="20" keywordseo="Refurbished">refurbished</keyword> smartphones in India are expected to grow at a compound rate of 27% over the next two years. </li><li>According to Counterpoint Research, worldwide sales of refurbished smartphones increased by 13% to 140 million units in 2017. </li></ul>As the saying goes, one’s man trash is another man’s treasure. In a country that boasts its own word for innovation through the least amount of resources, often called jugaad, it seems a foregone conclusion that there would be a burgeoning market for used or refurbished smartphones. A smartphone is still an aspirational product for many in India. It is connotative of a specific lifestyle, one that is in tune with the digital, information age. India is a country of 1.35 billion people of varying means. Moderately expensive products end up trickling down and being used by different owners. And homegrown companies like Cashify, Togofogo and InstaCash are looking to cash in on this process by taking advantage of the reusability of smartphones. Unlike Amazon India and Quikr, which sell a variety of used products, Cashify, Togofogo and InstaCash offer online marketplaces that are exclusively for the buying and selling of used and refurbished smartphones. Prior to the launch of these companies, the most popular place to buy a used smartphone was through your local bazaar - the unorganised physical retail market. As more Indians in tier-2 and tier-3 cities get access to the internet and more companies enter the market, sales of of refurbished smartphones in India are expected to grow at a compound rate <a href="https://tech.economictimes.indiatimes.com/news/mobile/refurbished-smartphones-market-set-to-grow-by-27-in-2-years-as-new-players-join-the-segment/64284312">of 27% over the next two years. </a> In fact, a spokesperson for Amazon told the Economic Times, that the platform’s sales of used smartphones in India was growing at a whopping 400% year-on-year. Meanwhile, Togofogo has facilitated the sale of <a href="https://www.thehindubusinessline.com/info-tech/togofogocom-sales-at-a-high-in-pre-owned-mobile-phone-market/article23912909.ece">350,000 phones </a>since its inception in 2015. The global market is also growing. According to Counterpoint Research, worldwide sales of refurbished smartphones increased by <a href="https://www.counterpointresearch.com/surprising-growth-used-smartphones/">13% to 140 million units in 2017</a> - making it the world’s fastest-growing smartphone segment. In contrast, the overall market for smartphones only grew by 3%. Even more significantly, refurbished smartphones now comprise nearly 10% of the global market. Adequate demand, adequate supply India’s second-hand smartphone market has a lot going for it. Smartphone penetration is increasing and product life cycles and refurbishment times are decreasing. For cost conscious Indians, a second-hand phone with a lot more features might be worth buying over a brand new phone with less specifications. As a result, more expensive smartphones like Apple’s iPhones and Samsung’s Galaxy series, which would normally be out of a mid-market customer’s reach, can find a second or third life after being refurbished and sold at a significant discount to their MRP. From a supply perspective, people are always looking to trade up their smartphones. In light of the rapid pace of development and the consistent churning out of new smartphone models, people are comfortable selling their old phones at a low price before upgrading.

India’s second-hand smartphone market is primed for growth

Capturing 28.52 per cent of the Indian mobile phone market, South Korean giant <keyword id="10591" type="CITY" weightage="100" keywordseo="Samsung">Samsung</keyword> sold maximum number of devices in 2016, followed by <keyword id="6354427" type="CITY" weightage="100" keywordseo="Apple">Apple</keyword> <keyword id="6354606" type="COMPANY" weightage="20" keywordseo="iPhone">iPhone</keyword> 14.87 per cent and <keyword id="11148" type="CITY" weightage="20" keywordseo="Motorola">Motorola</keyword> with 10.75 per cent, a new report said on Saturday. 
 According to ecommerce app Cashify, <keyword id="173725" type="ORGANIZATION" weightage="20" keywordseo="Samsung-Galaxy">Samsung Galaxy</keyword> Grand Duos I9082 was the most traded phone in 2016, capturing 3.02 per cent of the resale/buyback market. 
 
"This was followed by the Moto family's most successful phone of the year, Moto G 16GB (2nd Gen), with 2.71 per cent. Apple iPhone 5s 16GB (factory unlocked) came in third with a 2.34 per cent share," the report said, while noting device-wise distribution. 
 Other players, such as the <keyword id="2210217" type="UNKNOWN" weightage="20" keywordseo="oneplus">OnePlus</keyword> One 64 GB (1.78 per cent), also made their presence felt. 
 
"With a minefield of flagship launches, the resale markpicked up pace in the last few months as the number of people queuing up to trade their old smartphones with the latest market entrants went up significantly," the report stated. 
 
With a slew of smartphone launch announcements lined up for 2017, Cashify expects the resale market to show further growth as more and more people become aware of the resale value of their old phones. 
 
Recently, Cashify ranked Delhi number one when it came to upgrading smartphones with 19 per cent of online requests generated on the ecommerce app Cashify to sell used smartphones were from the capital.

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