Interest in pre-owned goods increased: 35% jump in used goods demand during COVID-19, laptop-mobile being the most sought after
Despite the Covid-19 epidemic, there has been an increase in demand for pre-owned or used goods in the country in 2020. Demand for pre-owned goods has increased by 35% in 2020 compared to 2019 on the online classifieds platform OLX. According to OLX, there has been an increase in demand for used goods in each quarter of 2020.
Demand for these goods was high
According to OLX, in 2020 there has been a high demand for electronics and appliances, mobile phones, accessories and furniture on its platform. At the same time, talking about technology gadgets and electronics, the demand for laptops, mobile phones, tablets and television has been the highest. When the lockdown began in the few months of the beginning of 2020, there was a high demand for goods used in home entertainment and online education.
100% boom in non-metro cities
According to the data, demand for laptops, mobile phones, tablets and televisions in non-metro cities in the second quarter of 2020 is growing by almost 100%. Demand for pre-owned goods such as electronics, appliances, furniture and mobiles is doubling in the third quarter of 2020. OLX says that there was more demand in the third quarter also due to non-fulfillment of demand in the first and second quarter. There is also demand in the fourth quarter as of 2019, indicating a return to pre-covid levels.
Boom in demand for new goods
According to the Retailers Association of India, there is a 2% jump in demand for new consumer electronics goods in September 2020. Whereas, in October, it rose by 8%. Consumer electronics companies have also reported a recovery in the July-September 2020 quarter. Companies registered the best sales in October 2020 when people purchased appliances such as refrigerators, washing machines and dishwashers. Sales of laptops, tablets and smartphones have also increased due to work from home and study from home.
More listings from non-metro cities
According to OLX, in the second half of 2020, there have been more listings of goods from non-metro cities on its platform. It has more listings of items like fridges, air conditioners (AC) and laptops. Compared to 2019, there is a jump of 45% in refrigerator listings, 67% in AC listing and 17% in laptop listings. When the unlocking process started during July-September 2020, listings on Sellers on OLX were booming.
