Cashify, on Wednesday, announced plans to launch 250 stores by March 2023 as part of plans to strengthen presence in tier 2 cities in India.
The refurbished mobile retail chain said it aims to reach 120% year-on-year growth with plans to expand to 30 more cities by the end of 2022.
Cashify opened their 100th store in March 2022, and claims to have a registered 70% growth within a span of eight months.
The company also said it continues to witness “exceptional demand” with a footfall of around 2 lakh people per month for services like phone repair, purchase of refurbished phones, accessories and selling old devices.
“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” Mr. Alok Shukla, VP - Retail at Cashify said.
Cashify is a re-commerce marketplace offering an online platform to sell old or used electronic gadgets like smartphones, laptops, tablets, desktops and Gaming Consoles.