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Vikas Acharya
Building WelBe| Entr... • 7d
Amazon shuts down refurbished platform Renewed Amazon has decided to shut down its refurbished platform, Renewed, citing increasing challenges. The e-commerce giant has informed sellers of the immediate discontinuation of the service via email. Launched in 2017, Amazon Renewed is a platform where customers can buy refurbished, pre-owned, and open-box products that have been thoroughly inspected and tested to ensure they function and look like new. It offers a variety of items, including smartphones, laptops, tablets, cameras, and home appliances. Meanwhile, Newjaisa, a publicly listed company that used to sell on Amazon, has written to the NSE stating that the shutdown will impact them in the short term. However, Newjaisa is actively collaborating with other retailers to mitigate the effects. Amazon Renewed was a direct competitor to Yaantra, which was acquired by its arch-rival Flipkart for an undisclosed sum in January 2022. It’s worth noting that Amazon has also tied up and invested in Cashify, a prominent Indian re-commerce platform specializing in the buying and selling of used electronic devices. With the shutdown of Amazon Renew, the refurbished space is left with these two prominent players
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