Cashify, a leading re-commerce marketplace and India’s largest refurbished mobile retail chain is all set to launch 250 stores by March 2023 to reach 120% growth YoY. As a part of the company’s aggressive retail strategy, it aims to expand to 30 more cities by end of 2022 and towards the end of this year, the company will be present in over 100 cities. The expansion will strengthen the company’s offline presence in India, with a strong focus towards tier 2 cities. Through this, Cashify aims to be among one of India’s top 5 mobile retail chains.
After hitting a century with their 100th store in March 2022, Cashify registered 70% growth within a short span of 8 months, currently, the company has 170 stores in over 77+ cities across India. The company continues to garner exceptional demand with a footfall of around 2 lakh people per month for services such as phone repair, purchasing refurbished phones, selling old phones and buying accessories for their devices.
Speaking on the company’s expansion plans, Mr. Alok Shukla, VP – Retail at Cashify said, “Our brand’s expansion plans for 2023 are coupled with strengthening the trust we have built with our consumers through our distinguished services and seamless access to our stores and products. In the last couple of years, we have witnessed multifold growth in terms of expansion, consumer reach and marketing. We are at the forefront of the organised refurbished sector in India and this expansion is a testimony of our efforts to reach every consumer in the region.”
He further added, “We are witnessing exceptional response from tier 1, 2 and 3 cities and have devised specific strategies for multiple touchpoints with the customers. With the company’s 40% of business being driven through online channels and 60% focusing on their offline retail stores, we will soon convert their stores into exclusive experience centres where consumers can select their phones through the company’s online portal and test their chosen device in any offline store in the chain.”
As one of the most trusted repair brands in unorganised and organised segments among consumers, Cashify’s interconnected and pan-India presence allows them to offer on-the-spot phone exchange, holistic service centres, free support to help with data transfer at stores, hand-to-hand assistance and uniform prices across India for all products.