The Rise of Refurbished Products
Many manufacturers and retailers have viewed refurbished products as a lesser priority...however, recent research shows there is real value in applying strategic planning to this area of business.
The Refurbished Market is Bigger than You May Think
The refurbished market for consumer electronics is estimated to be $10 billion. That’s bigger than many businesses may realize – and it shows no sign of slowing down. Why?
When organizations think of refurbished consumer electronics, they might imagine laptops that do not operate at their optimum capacity, or bear significant visual damage. The reality is much different – and consumers are starting to realize that fact in droves. Many refurbished products are restored to full manufacturer conditions, boasting the capability to provide consumers with a quality product at an affordable price.
As a result, many premier consumer brands are entering the refurbished market, providing “B” stock products which offer “A” stock quality. These brands expand share and gain loyalties with consumers who previously couldn’t access the brand on the primary market. They are growing by leveraging their reverse supply chain better and more intelligently than less progressive competitors.
In addition to providing a closer look into the refurbished market for consumers, this white paper presents strategies for building out your plan for refurbished products to tap this growing market.
What’s Related
Favorites
