1. With exchange platform for used mobiles, Quikr does a Junglee

With exchange platform for used mobiles, Quikr does a Junglee

Online classifieds portal Quikr, which until recently served as a platform...

By: | Bengaluru | Updated: February 3, 2015 1:06 AM

Online classifieds portal Quikr, which until recently served as a platform to facilitate buyer-seller exchange, is piloting a marketplace model for pre-owned mobile phones. Under the new initiative, called Quikr X, the buyer makes a purchase on the portal without having to contact the respective seller.

In fact, the seller’s identity is not disclosed on Quikr X as the listings identify the merchants as ‘trusted sellers’. The products on offer come with Quikr’s 30-day product guarantee and the logistics are undertaken by Quikr. It was, however, not immediately clear whether Quikr purchases the products from sellers before putting them up on the website or merely provides a platform.

At present, the service is restricted to mobile phones only. With this, Quikr has followed in the footsteps of Amazon subsidiary Junglee.com, which was launched as a price comparison portal in February 2012, but later started facilitating purchases on its platform. Consequently, buyers can pay directly for selected products listed on Junglee using the ‘Pay with Amazon service’.

Though Quikr did not respond to queries, industry observers are of the opinion that such a move will ensure genuineness of the products and foster a bigger trust between buyers and sellers.

“Quikr sells used products and none of the others like Flipkart and Amazon do that. When it was just about connecting buyers and sellers, the question was, how to ensure credibility of the parties involved. Here, when Quikr enters the scene, they will be monitoring and curating the products. The value proposition lies in Quikr not blindly connecting preople, but being the middle person and making sure both sides get their due,” said Ashish Jhalani, founder of eTailing India. “I believe Quikr will not hold inventory, but it is going to be a managed marketplace.”

Founded in 2008 by Pranay Chulet and Jiby Thomas, Quikr has so far raised $196 million from investors like Tiger Global Management, Investment AB Kinnevik, Omidyar Network, eBay and Warburg Pincus among others. In September, the company raised $60 million in a round led by Tiger Global.

In the online classifieds space, Quikr competes with Naspers-backed Olx.com, which has so far raised at least $30 million. Unlike Quikr, Olx is yet to facilitate transactions on its website. However, some industry observers are sceptical about the prospects of Quikr facilitating transactions on its portal, especially in terms of the number of sellers who will list for the services. At present, the Quikr website has only 27 phones listed under the Quikr X category.

“My concern is who will be the sellers as I don’t know many retailers who specialise in pre-owned goods. So, I am not sure how many listings they will get,” said Arvind Singhal, chairman of retail advisory firm Technopak.

Singhal, however, said categories like consumer electronics, furniture and mobile phones offer a lot of potential in the pre-owned segment. “We may see a convergence of business models. The likes of Flipkart and Snapdeal may look into pre-owned products while the likes of Quikr and Olx may look beyond pre-owned products,” Singhal added.

Novel approach

* Under the new initiative, called Quikr X, the buyer makes a purchase on the portal without having to contact the respective seller
* In fact, the seller’s identity is not disclosed on Quikr X as the listings identify the merchants as ‘trusted sellers’. The products on offer come with Quikr’s 30-day product guarantee and the logistics are undertaken by Quikr
* At present, the service is restricted to mobile phones only. With this, Quikr has followed in the footsteps of Amazon subsidiary Junglee.com, which was launched as a price comparison portal in February 2012, but later started facilitating purchases on its platform. Consequently, buyers can pay directly for selected products listed on Junglee using the ‘Pay with Amazon service’

Please Wait while comments are loading...

Go to Top