India's used goods market to cross Rs 1,15,000 cr by 2015: Assocham

With growing consumerism and disposable income, India's used goods market is likely to touch

RELATED ARTICLES

Rs 1,15,000 crore by 2015 from Rs 80,000 crore at present, says a study.

"Whether consumer goods like electronics, durables or automobiles -- used cars, or the industrial machinery in the capital goods sector, the options of retrofitting and re-usage are being considered more actively than ever before," Assocham Secretary General D S Rawat said.

"High interest rates, risk aversion and subdued investment appetite have led to this state of second hand culture," he said quoting the study.

Moreover, the rise in income is not commensurate to the rise in aspirations, leading consumers to buy products from the second-hand market to fill the gap, the study said.

At present, the country's second-hand (used goods market) is worth an estimated Rs 80,000 crore, which includes the automobile segment as well.

Nearly 45% of the respondents covered in the study said buying second-hand goods from reliable platforms is worthwhile as needs have multiplied but income hasn't risen accordingly.

However, most dealers across major cities said sales of second-hand products like refrigerators, ACs and washing machines are definitely lower as compared to the past couple of years.

After automobiles, textbooks are the most sought after in the second-hand segment, constituting 25% of the 'for-sale' listings on OLX, an online classified site, the study said.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Back from the US of A, Modi will now have to walk the talk

    It would be no overstatement to suggest that prime minister Narendra Modi’s five-day trip to the US was an exercise in PR diplomacy.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Simon J Evenett

Where the mind leads, actions follow

Whether in business, government, non-profits, or elsewhere, what assumptions underpin ...

Zehra Naqvi

Fading empathy in the modern world

The episode of a man being mauled to death by ...

Gautam Gupta

French fashion icon Gaultier’s pret goodbye

With Gaultier gone, the world of international prêt will never ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture