Casify is an unique company which earn money from its competitors like Amazon and Flipkart. In this article we will be discussing how this company earn and what are their business model to sustain in the highly competitive market.
Business of Casify
Casify is a reverse ecommerce platform. It simply means to sell the products which was owned by another person. It mainly focused on second hand mobile phones. We know that after the China, India is the largest market for mobile selling.
No doubt there will be a big market of second hand mobile. This is because India is a low income people country and love to buy a product in fear of missing out. There is a need of smart phone by everyone. But everyone can`t afford a brand new phone. So they purchased second hand phone. Casify is trying to capture that big market.
Earlier Casify was known as Reglobe which was owned by Nakul Kumar. They used all the waste materials like rubber and plastic to make oil. But they sold their company as they found it is not scalable. Then they found that the electronic wastes are increasing day by day. But there are no proper ways to manage those wastes, then they got the idea of casify.
Their business model is simple. They purchase second hand mobile phones. They repair mobile units. They sell refurbished products to the customer. They even sell some new phones too. There are some secret models of this company which make them ahead in the competition.
Removing the clutter
Our mobile phone purchase decision depends on two things. First is utility so that we can features of the phone. Second is status symbol so that they can show off. Casify uses their platform to educate such things as they find out if information will not turn into knowledge, customers can take proper decision.
They have articles so that you can understand when to repair a phone or sold that or best time to buy a mobile. They also shared how to protect their date before selling mobiles.
When a company invested so much in you, you automatically inclined to their products.
Whenever you download their app to sell your mobile, casify will start to provide informative content. It builds unconsciously a companionship before even selling the products.
When you decide to sell your phone, a executive come to your home and give money hand to hand if there is no problem. But it is different from other sellers as they give option to quote their price of mobile phone many times so that they can get the best price.
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So now come to the part that how casify earn from Amazon or Flipkart. When any sales going on, amazon and flipkart spend heavily on market. So whenever we purchase a new phone we may sold it in casify or exchange them to get discount. In both cases, casify gets profited as amazon or flipkart did not keep the old devices and sold them to the casify. Thus casify generated revenue from other e commerce platforms.