One of the second-hand and reseller market platforms in South Korea, KREAM, expanded its product category into tech gadgets.
The company started its service as “Renews Tech” on 9th November.
According to the press release, renewed technology is one of the hottest categories for second-hand products worldwide.
The reason is that as the smartphone market matures, there is a perception that it makes more sense to buy a used product at a lower price than a new, expensive smartphone if it is ensured that the performance is comparable to that of a new product.
According to Counterpoint Research, sales of new smartphones increased by 4.5% year-on-year last year, while refurbished smartphones increased by 15% year-on-year.
According to the company, Renewed Tech’s products are certified and marketed through verification with professional refurbishment partners.
In other words, only products that have not been repaired or replaced, have a battery performance of 90% or more, and have passed thorough performance tests by experts are verified on the KREAM platform.
The company claims to benefit from a 12-month warranty period.
The market is watching to see how much the dealer platform’s expansion into the tech gadget category will contribute to sales growth.
Please also read.
KREAM invests KRW 2.2 billion in SneakerLah.
KREAM secures Series B funding led by Altos Ventures.
KREAM, an affiliate of Naver, acquires the largest Sneaker Resale Community.
KREAM – a spin-off startup from SNOW – attracts Coupang Investor.
Altos Ventures invests in a C2M Commerce startup, Katcher’s.
