Togofogo.com announced it has successfully sold 3,50,000 units of refurbished and pre-owned phones in the past 3 years.
Founded by Soumitra Gupta, an industry veteran with over 2 decades of experience, the company aims to transform the grey market of second hand and refurbished mobile industry to organized ecosystem.
Togofogo.com is first of its kind of platform which has strengthen the entire ecosystem of buying and selling of refurbished and pre-owned phone by offering all value proposition that authenticate the second hand phone market. The brand has established a customer base of over 3,00,000 in a span of 3 years, while capturing 35% of the market share. There is a repeat customer percentage of 25% which envisages the trust built by customers on the on the brand.
Commenting on the achievement, Soumitra Gupta, Founder of Togofogo.com, said,
“While I had envisioned that the market of Pre-owned Mobile in India will be one of the high potential markets in the industry few years back, there was a huge gap in the market which stopped the growth of refurbished and second hand phones in India.”
“Becoming the first company to set the edge of authentication in a highly unorganized market, Togofogo.com has created an ecosystem where the sellers leverage company’s integrated logistics support to open up Pan-India Market in no time. While, the buyers have a place to shop refurbished / used phones and be rest assured on the quality of the products they purchase, hence strengthening the recommence industry in Mobile Category in India”, he further added
In India, millions of users still buy second-hand phones because they would rather use a pre-owned phone with the features they need than settle for a new phone with lower specs. Along with affordability, the shorter upgrade cycles of smartphones these days are also fuelling a demand for used phones.