In an era where premium smartphones symbolize status and functionality, their high price tags often render them inaccessible to many consumers. Addressing this gap, Gurugram-based startup Grest is transforming the refurbished electronics market by offering top-quality devices at affordable prices.
Bridging Aspirations and Affordability
Co-founded in 2021 by childhood friends Shrey Sardana and Nitin Goyal, Grest—short for 'greatness in restorations'—specializes in refurbished iPhones, MacBooks, and laptops. The duo leverages their extensive experience in the electronics and telecom industries to make premium devices accessible to millennials and Gen Z consumers facing financial constraints.
"Refurbished phones often carry the stigma of lower quality. We aim to change that perception by delivering devices that perform like new, backed by warranties and quality assurance," says Shrey Sardana, Co-founder and CEO.
A Robust Supply Chain
Grest sources used devices through a network of approximately 200 suppliers across India, including individual consumers, unorganized players, and established retail partners such as Apple outlets, Vijay Sales, Reliance Digital, and Croma. This extensive supply chain enables Grest to maintain operational efficiency and reliability.
Quality Assurance and Consumer Trust
To ensure customer satisfaction, Grest subjects each device to over 50 quality checks, including functionality testing, software verification, and battery health assessments. Devices are then certified and graded based on their condition, with most refurbished phones undergoing stringent quality checks to meet high standards before being sold. Additionally, Grest offers a six-month warranty and a seven-day easy return policy, reinforcing consumer confidence in refurbished electronics.
Market Dynamics and Growth
The demand for refurbished iPhones in India rose by 38% in the first half of 2024, with the iPhone 11 being the top-selling model. This trend reflects a growing acceptance of refurbished devices among Indian consumers. With affordability concerns and sustainability awareness on the rise, the market is expected to expand further.
Our Opinion on the News
Grest's initiative aligns with the broader movement towards sustainable consumption and the circular economy. By refurbishing and reselling electronic devices, the company not only makes premium technology more accessible but also contributes to reducing electronic waste. As consumer perceptions continue to shift, businesses like Grest are well-positioned to lead the refurbished electronics market in India, fostering both economic and environmental benefits.