Gozunk.com is India’s first and most authentic old mobile buying house and under the guidance of Mr Mohit Bansal, Co-founder, GoZunk aims to become the biggest player in the verified second hand mobile and electronics market in the country.
- Team Estrade: Tell us about yourself and what led you to form GoZunk?
Mohit Bansal: Mohit and Anubhav started www.gozunk.com in October 2015 after seeing a huge opportunity in the verified second hand electronics market. Mohit intends to leverage his experience in marketing and operations to make Gozunk the market leader in its category.
We noticed a niche where people wish to upgrade to better smartphone models but are unable to do so because of paucity of funds. They were randomly buying through marketplace classified sites but suffering because of lack of warranty. With GoZunk, we eliminate this problem. We make cheaper handsets available to people with a Gozunk warranty thereby creating a first of its kind verified market for Mobile Phones.
- Team Estrade: How does GoZunk work and what is theUSP of GoZunk?
Mohit Bansal: In simple words, Gozunk.com offers second hand, used mobiles to customers with a 3 month warranty. We also buy mobiles from users who want to sell their old mobiles.
Gozunk refurbishes old mobiles it buys from the market and gives a 3 month warranty on all such phones. It also gives a 15 day return back option.
We have an offline network of vendors as well in small towns where there is huge demand for cheaper smart phones. This offline network works seamlessly with our online channel. All mobiles procured online are sold in the offline channel after 7 days of procurement if the same is not sold online within that period. This is to ensure minimum inventory levels.
Gozunk.com is an inventory led model. We guarantee assured buying and warranted selling of second hand/refurbished mobiles.
Other online classified players are just market places looking to connect buyers with sellers. They do not offer any warranty, nor any verification of the product being sold. We are a one of a kind ‘Verified’ place for buying and selling mobile phones. We guarantee assured buying and warranted selling of second hand/refurbished mobiles.
- Team Estrade: What was the most difficult aspect of starting GoZunk?
Mohit Bansal: We faced the same challenges as any new start-up would face. Getting the right kind of people with technical understanding of mobile phones and its market was not easy. Building the network of offline vendors in Tier-2 and Tier-3 towns also took some time. However, we have been fairly successful in overcoming these initial challenges.
- Team Estrade: Who is your target audience and how huge is the market size GoZunk is dealing with?
Mohit Bansal: Our core TG are the millions of Indians who wish to buy smartphones but are unable to afford the same. We wish to see all Indians with a smartphone and the best way to do the same is by making the second hand mobile market accessible to all. We believe a huge chunk of our TG is in Tier 2-3 cities and towns that don’t have established mobile sellers. We are looking to set our stores through our verified selling partners in these smaller cities so these people also get access to second hand refurbished smartphones.
The market for mobiles is huge in India. Especially in smaller towns and cities where smartphones are in demand but purchasing power is an issue. Since everyone cannot afford expensive brand new smartphones, second hand mobiles come at lesser price but give the same advantages. Supply of verified second hand mobiles is also currently limited to a few metros only.
The Second Hand mobile market is likely to be a USD 2 Billion opportunity by 2016-17.
“GoZunk will soon be the leading player and the benchmark in the Second Hand Verified Smart Phone Market”
- Team Estrade: What is your user acquisition strategy?
Mohit Bansal: We currently get a large chunk of our visitors through organic traffic. We would continue to invest heavily in our In-House SEO Team to acquire new customers.
Social Media is another channel that we plan to leverage to our advantage.
In offline channel, we would be concentrating on Point of Sale branding in Tier2 and Tier 3 towns across the country.
- Team Estrade: Geographically speaking which key cities are you targeting?
Mohit Bansal: Currently we are targeting North India but plan to build a very strong offline network of vendors in Tier 2&3 towns across the country in another 12-15 months. This is for both Buying and Selling of mobiles.
- Team Estrade: What’s your revenue mix model?
Mohit Bansal: Our key revenue streams:
- By selling used/refurbished phones through gozunk.com
- Buying used phones through the site, refurbish them and then sell them either online or through our offline channel partners
- Repair and refurbishing phones.
- Team Estrade: What’s next for GoZunk?
Mohit Bansal: GoZunk will soon be the leading player and the benchmark in the Second Hand Verified Smart Phone Market. With a strong network across more than 500 towns, we would be well placed to leverage this distribution network to sell other electronics like TVs, Fridge, ACs etc.
GoZunk: ‘Verified’ platform for second-hand mobiles
