Using algorithm, this startup allows retailers to assess mobile phones' condition to offer the best price
Re-commerce is not a new concept and has been here for centuries and we know that re-commerce or second-hand market as we call it in day-to-day language means the buying and selling of pre-owned and gently used products from cars to vintage clothing and from furniture to electronics. Today, the entire market has undergone a significant transformation, driven by the rise of sustainable living and eco-conscious consumer choices. This shift reflects a growing preference for affordability, accessibility, and environmental responsibility, making re-commerce a thriving market in the digital age and mobile phone is a new star in the electronic goods sector. Recognizing the rapid expansion of the refurbished smartphone market—which is projected to grow at a CAGR of 13.73% by 2028—GREST was founded in 2021. Sanjeev Aggarwal, CTO, Grest highlights how Grest is revolutionizing the refurbished mobile phone sector by using advanced technologies like AI and algorithms to renew the mobile phones to meet the evolving demands of modern consumers.
What is Grest’s concept?
Grest is an innovative platform dedicated to renewing smartphones through advanced refurbishment, with a strong commitment to sustainability. Founded in 2018 by two friends and co-founders, Shrey Sardana and Nitin Goyal, after recognizing the increasing demand for affordable, high-quality refurbished phones and devices, we set out to bridge the gap and make sustainable technology more accessible to all. The leadership team at Grest was further fortified by the expertise of CTO, Sanjeev Aggarwal, a seasoned professional and an industry veteran with over 23 years of experience, including leadership roles in global IT companies. Sanjeev’s association with Grest started as a customer when he bought an iPhone for his daughter and later became a tech advisor to Grest and, finally, the CTO.
How Grest is different from other similar platforms in terms of technology you use?
Grest stands out with its unique positioning, seamlessly operating across the business, retailers and end customer segments. What truly differentiates Grest from its competitors is its leverage of technology for smooth customer experience, operational efficiencies and business growth across geographies. Powered by an advanced algorithm-based ‘Grest Partners’ app, Grest enables its KYC-approved retailers across locations to stay connected with the brand for checking online inventory & prices, placing orders, etc. Grest CX platform allows the customers to avail of the post-sales warranty and support. Grest’s proprietary algorithm allows its end users to assess the software and hardware conditions of mobile phones, guaranteeing they receive the best possible price for their devices along with safe and hassle-free data deletion before buyback and further safeguarding the brand interests of the quickest inventory cycle. Grest technology landscape is based on a pragmatic, frugal approach of in-house and industry-standard SaaS solutions to automate its refurbishment process and the connected customer channels. Grest is a full-stack tech-enabled re-commerce company that transforms the complete journey of buying, refurbishment, selling and customer experience through technology.
We also have an edge over other players with our comprehensive refurbishment process, conducted at a cutting-edge repair facility. In Grest, each device is meticulously restored to a near-new condition, delivering not just functionality but also the premium quality experience that customer expects. Equipped with the expertise to refurbish devices in any condition and rigorous quality control measures, we have been consistently delivering outstanding value to our customers.
Can you highlight your app and technology that are enabling retailers to procure the best-used phones from the market?
Grest’s platform and the associated algorithm is a proprietary system extended to its B2B partners for optimum price discovery of the phones. This platform works on the proprietary grading-based algorithm to price any phone based on its external and internal conditions. It is built in-house using scalable open-source technologies and being offered as a marketplace as well as a white-labelled platform to its retailer partner eco-system. It allows the Grest premium partners to brand themselves in the market with the required security and scale.
How do you describe Grest as a technology-driven digital re-commerce company?
We are a fully technology-driven company, integrating advanced solutions into every facet of our operations and customer channels. Our approach emphasizes seamless collaboration with partners to build a robust and expansive ecosystem. By leveraging cloud technology, we efficiently manage high-traffic volumes and transactions securely and without any disruptions. Additionally, we incorporate cutting-edge tools such as Artificial Intelligence (AI), Machine Learning (ML), and geolocation services into our daily operations across departments, ensuring efficiency, precision, and scalability. The agility of the technology development process enables us to roll out business features every 2-3 weeks, enabling our customers to have the best of the technology enhancements very fast.
What is Grest’s market play? How do you procure, refurbish and sell the product?
We offer high-quality, aspirational, affordable, and reliable products, all refurbished to ‘like new’ conditions and backed by peace-of-mind warranties and hassle-free returns.
We source devices through our in-house price discovery application, which connects us with over 20 partners and retailers to perform advanced in-house repairs and refurbishments, we manage every step of the process. Our state-of-the-art, 20,000 sq. ft. facility is fully equipped to handle even the most complex repairs, including intricate chip-level fixes and deep motherboard issues. We also have a PAN India distribution network and a growing online presence.
The Grest brand is built on four core pillars—availability, affordability, accountability, and accessibility—which ensure a seamless, trusted experience for our customers and provide exceptional value in every purchase.
Why do you think re-commerce is important and poised to grow in the coming years?
With millions of unused smartphones gathering dust in people's drawers, re-commerce offers an ideal solution to reduce clutter and make full use of these devices. Organized re-commerce platforms like Grest provide customers with a financial incentive to exchange their old devices for new ones, ensuring data privacy and security with thorough device wiping by trusted companies like ours. This process reduces e-waste while driving new device sales. Re-commerce benefits everyone—it lowers the total cost of ownership for customers through exchanges, boosts new device sales for brands, reduces clutter and e-waste, and offers affordable technology to end users. At Grest, our mission is to break the ‘use and discard’ rule by offering carefully refurbished smartphones, minimizing environmental impact. Our re-commerce approach makes sustainability both affordable and accessible for every common customer.
Further, where a new flagship phone is generally designed for a lifespan of 5 years, the average span of change of new devices is around 2 years, this gives plenty of room for re-commerce to fit it and focus on the Target Group seeking aspirational yet affordable devices. A refurbished device takes much fewer resources as compared to making a new phone and hence reduces the burden on the planet.
