India’s Rocking Deals is planning to launch 500 retail stores within next five years. The move by the online retail electronics marketplace follows the opening of the brand’s first offline store in Agra (Uttar Pradesh) last month, with up to 20 stores planned for the state in the near future. “We have chalked out an all round growth plan, be it online or offline,” said founder & CEO Yuvraj Aman Singh. “With our new retail stores, the company plans to weed out inefficiencies, lack of certified products in the market, and under or overvaluation of pre-owned products.
“We would like to tap all major markets of smaller towns and cities through our offline market strategy.”
The company has already signed with 27 retail franchises in various states, including Uttar Pradesh, Jharkhand, Odisha, Punjab and others.
“The refurbished market is to rise by a compounded 27 per cent over 2019-20, as large players are joining through their existing online marketplaces such as Amazon and Flipkart, which posted surging growth in annual sales, and we too wanted to significantly capture the market through our organised channel,” added Singh.
Rocking Deals was founded in 2012 and to date has sold close to 4 million refurbished and pre-owned units in 18 categories to end customers.