The e-commerce giant Flipkart is expected to improve its smartphone sales with the help of its ‘Buyback Guarantee’ program. The program will be applicable on the leading smartphone brands during the upcoming Big10 Sale.
Flipkart said that it had successfully conducted the pilot run on the Buyback Guarantee program in March with Moto G5 smartphone. The company will avail the offer to consumers with a cost of Rs 399 upfront for Vivo, Lenovo, Motorola, and Oppo mobiles. A senior official of Flipkart has said that the facility will be made a permanent feature on the site even after the sale, however, it will come at a higher price.
Ayyappan Rajagopal who is the senior director of smartphones at Flipkart said that the buyback guarantee program along with the other affordability programs such as low-cost EMI will result in a 50-70 percent rise in sales in regular basis, but during the sale period, the increase in sales is expected to be in a range of 2x to 2.5x.
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The Buyback guarantee program will allow consumers to buy smartphones from Flipkart at the lowest price and the company promises the users to buyback the smartphone from the consumer at the value agreed at the time of purchase which ensures the maximum returns to the customers. The facility will be offered on nearly half mobile phone models during the sale period which will be priced between Rs 10,000 to Rs 80,000.
The customers availing the buyback guarantee program will get 35 percent to 50 percent of the MRP when they exchange for a new smartphone or give it back to the company within a period of six to eight months or even more depending on the terms and conditions of the guarantee at the time of purchase.
The new offers are expected to help Flipkart to get higher sales and revenue from the mobile phone segment as the offers are likely to bring down the period of replacement to six months from the existing level of eight to nine months.