‘Refurbished market is a big market which comprises of anyone and everyone using a phone. It is the sale of pre-owned products. The market size and market opportunity is great as the industry is evolving. It is 10000 crores a year. Each used phone is an asset that can be sold and bought and then can be sold again. One can imagine the market size by this.’ Yuvraj Aman Singh, Founder
and CEO, Rocking Deals
and CEO, Rocking Deals
 |
| Yuvraj Aman Singh, Founder and CEO, Rocking Deals |
ST: Please tell us more about your
venture.
venture.
Yuvraj Aman Singh: Rocking
Deals is India’s leading online store for unboxed, refurbished, and pre-owned
products. Rocking Deals is the safest and most trusted place to buy secondary
products with a comprehensive quality-check process, expert product knowledge,
and unparalleled customer focus.
Deals is India’s leading online store for unboxed, refurbished, and pre-owned
products. Rocking Deals is the safest and most trusted place to buy secondary
products with a comprehensive quality-check process, expert product knowledge,
and unparalleled customer focus.
We sell phones which doesn’t come seal packed or those
which are not brand new. Our product may be excess inventory, carton damage,
refurbished or customer returns. Which we call up to 24 hours used stock as per
the 30 days return policy by the e-commerce portals. We have now started
investing in clothes, appliances, accessories, fashion and IT products
too.
which are not brand new. Our product may be excess inventory, carton damage,
refurbished or customer returns. Which we call up to 24 hours used stock as per
the 30 days return policy by the e-commerce portals. We have now started
investing in clothes, appliances, accessories, fashion and IT products
too.
Refurbished
market is a big market which comprises of anyone and everyone using a phone. It
is the sale of pre-owned products.
market is a big market which comprises of anyone and everyone using a phone. It
is the sale of pre-owned products.
ST: What opportunities do you see
for unboxed, refurbished, and pre-owned products in India?
for unboxed, refurbished, and pre-owned products in India?
Yuvraj Aman Singh: The market
size and market opportunity is great as the industry is evolving. It is 10000 crores
a year. Each used phone is an asset that can be sold and bought and then can be
sold again. One can imagine the market size by this.
size and market opportunity is great as the industry is evolving. It is 10000 crores
a year. Each used phone is an asset that can be sold and bought and then can be
sold again. One can imagine the market size by this.
The
opportunities are immense as 1 billion Sims are activated in India which means
we have 1 billion phones which need to be refurbished and sold with warranty
sometime in their lifecycle.
opportunities are immense as 1 billion Sims are activated in India which means
we have 1 billion phones which need to be refurbished and sold with warranty
sometime in their lifecycle.
 |
| Rocking Deals Team |
ST: How important is funding for
startups? Have you raised any funds or are you planning in this regard?
startups? Have you raised any funds or are you planning in this regard?
Yuvraj Aman Singh: Funding
is very important for each and every business. We have not raised funds except
from banks. We are looking for the right partners and not just investors
is very important for each and every business. We have not raised funds except
from banks. We are looking for the right partners and not just investors
ST: What are your future plans?
Yuvraj Aman Singh: I
plan to have a brand name in pre-owned products segment and have the best
quality service after sales.
plan to have a brand name in pre-owned products segment and have the best
quality service after sales.
ST: Would you like to highlight few
challenges faced by e-entrepreneurs like you?
challenges faced by e-entrepreneurs like you?
Yuvraj Aman Singh: Initially
when we started the biggest challenge was to explain the customers the meaning
of refurbished and unboxed. They
thought all the products were faulty repaired with duplicate spares etc. We
made sure we stood by each commitment and made sure that the customer got what
we promised. It was rigorous after sales service especially in retail when the
customer in his head thinks that there is a problem with the phone that’s what
we are selling it at a cheaper price but actually our fault ratio is below
brand new products. With time came trust and with trust came a customer base
through word of mouth and now here we are.
when we started the biggest challenge was to explain the customers the meaning
of refurbished and unboxed. They
thought all the products were faulty repaired with duplicate spares etc. We
made sure we stood by each commitment and made sure that the customer got what
we promised. It was rigorous after sales service especially in retail when the
customer in his head thinks that there is a problem with the phone that’s what
we are selling it at a cheaper price but actually our fault ratio is below
brand new products. With time came trust and with trust came a customer base
through word of mouth and now here we are.
Doing
business is not an easy task. It takes a lot of planning, hard work and
efforts. Currently we have a team of
250 people and close to 15 agencies to whom we outsource our work. In India
nothing is easy. Follow up is the key as customers are loyal and prefer
sticking to one seller only.
business is not an easy task. It takes a lot of planning, hard work and
efforts. Currently we have a team of
250 people and close to 15 agencies to whom we outsource our work. In India
nothing is easy. Follow up is the key as customers are loyal and prefer
sticking to one seller only.
The
cancellation rates and returns plus the unethical practice by the logistics
partners and customers make it a stressful business model
cancellation rates and returns plus the unethical practice by the logistics
partners and customers make it a stressful business model
ST: What keeps you going?
Yuvraj Aman Singh: Rocking
Deals keeps me running and going!
Deals keeps me running and going!
ST: What are your hobbies?
Yuvraj Aman Singh: I
am a fitness freak and keeping myself fit is my hobby.
am a fitness freak and keeping myself fit is my hobby.
Interviewed by Startup Terminal Bureau
