An exclusive interview with IT.Voice,Mr. Soumitra Gupta, CEO, Togofogo,reveals his strategies for business in India .
Nisha Harshwal:-What is your strength in mobile business?
Mr. Soumitra Gupta:-Togofogo is India’s most trusted marketplace for buying and selling of re-commerce products. It serves as a one-stop shop for its customers,providing an array of services to them— right from Quality Check & Certification of products to an option to buy a 1-year Warranty on refurbished & pre-owned phones through Warranty Bazaar. Togofogo also provides post-purchase Repair services to the customers through its trusted vendor Aforeserve.
The mobile phone is the largest category on our platform. Leading brands like Samsung, Apple, Blackberry, Sony, Asus, and Xiaomi among othersfeature on the company’s website.With a strong customer base of over 6,50,000, nearly 1200 to 1500 units of refurbished smartphones are sold each day on our website.
There is a repeat customer percentage of 24% which envisages the trust built by customers on the on the brand.
Nisha Harshwal:-What kind of distribution network are you planning?
Mr. Soumitra Gupta:-Togofogo has a network of over 300 sellers listed on the platform. After establishing a secure position in the online market, our focus is now on expanding our on-ground presence. For our offline distribution, we have planned to open 100+ stores by September 2019.
Nisha Harshwal:-How big is the refurbished mobile market in India? How is Togofogo positioned in the Indian market?
Mr. Soumitra Gupta:-The refurbished market is the fastest growing smartphone market in India.Since technology is changing rapidly and gadgets are becoming outdated sooner than usual, refurbished phones seem to be the best bet for the customers in such a scenario. They are a boon to those who want to upgrade their phone as frequently as within six to eight months to either enjoy the latest technology or add to their status symbol. Moreover, refurbished phones are highly affordable and aren’t rough on the pocket. Customers can buy a refurbished phone at a lower cost but with higher specifications as compared to the new devices. Also, given the fact that not everybody can buy the premium phones, refurbished phones are much easier and financially viable buys for most of the Indian population. However,refurbished smartphones of popular brands are being increasingly sold in India and are in demand across every segment of the population.
Having served our customers with the best and most effective solutions in the refurbished mobile phones category, Togofogo today stands amongst the top players in the re-commerce market in India.
Nisha Harshwal:-Are you planning any more products for the Indian market?
Mr. Soumitra Gupta:-Recently, we have stepped into the refurbished laptop industry and are hopeful to expand our wings into other product categories; most likely in the consumer electronic goods segment.
Nisha Harshwal:-What are some of the points where Togofogo products score over the competing forces in India as well as globally? How do you differentiate from your competitors?
Mr. Soumitra Gupta:-The key differentiator is that we ensure the highest quality with the maximum number of quality checks (75points) in the industry.We also provide the best warranty cover in association with Warranty Bazaar. Secondly, we have our own refurbishment center (6,000 sq. ft.) aided by Aforeserve and associated entities. Unlike other e-commerce players, Togofogo primarily focuses on doing sustainable business to achieve profitability.
Most of all, Togofogo is first of its kind platform which has strengthened the entire ecosystem of buying and selling of refurbished and pre-owned phones by offering all value propositions that authenticate the second-hand phone market. We have a fully integrated Logistics support to deliver to any location Pan-India unlike other players in the market whose transactions are location-bound.
Nisha Harshwal:-What are some of the trends that the industry is going to see in the year ahead?
Mr. Soumitra Gupta:-The smartphone space is poised for unprecedented growth courtesy the involvement of the refurbished market.The continuous upgrades in smartphone models and subsequent supply of newer versions have also given rise to the demand for second-hand or refurbished category smartphones. While smartphone brands like Xiaomi, Samsung, etc., have been leading the refurbished smartphone market, the year 2019 will see the rise of mid-range smartphone brands in the refurbished category. Moreover, 2019 will also witness an increase in the number of customers buying refurbished devices online.
Nisha Harshwal:-What is the big focus of Togofogo today? What are some of the top priorities?
Mr. Soumitra Gupta:-Our major focus this year is to expand our offline reach by rerouting the transactions taking place in the grey market and bringing them under an organized ecosystem created by Togofogo.
Nisha Harshwal:-What are Plans for Togofogo in 2019? Are you planning to come up with any unprecedented marketing initiative this year?
Mr. Soumitra Gupta:-To strengthen our position in the market, we are following interesting roadmaps to reach the nooks and corners of the country. For instance, to provide integrated Buy-back and Repair services, we are opening dedicated kiosks in the metro cities to reach out to the customers. We will be setting up 30 such kiosks by March 2019.
In the previous year, we introduced a unique offer for the festive season where customers were entitled toRs. 1 Lakh Personal Accidental Insurance for any purchase made on our website. In future, we will continue to bring such unique offers for our customers in association with the leading brands.