NorthLadder is a UAE-based, second-hand online marketplace for electronics. NorthLadder has recently announced long-term partnerships with key retailers across the UAE including select Carrefour and Lulu Hypermarkets and electronic retailers including EMAX, Jumbo Electronics, Ecity, MDS, Istyle, Samsung Brand Shops operated by Jacky’s Retail LLC and Harman House, to support the rising number of people trading in their devices.
Reports in the UAE suggest trade in volumes across leading electronics retailers have quadrupled. To support this surge, NorthLadder has partnered with leading retailers to offer its innovative technology, trusted network and secure auction platform. To facilitate the trade in process, NorthLadder has launched white labelled apps for each retailer. Through the apps, consumers will be encouraged to explore and purchase device upgrades.
Mihin Shah, CRO at NorthLadder comments on the partnerships, stating: “Currently, only 1-2% of devices are traded in the UAE, compared to around 25% in the USA. By streamlining the trade in process and giving the best value to customers, we strive to increase the adoption of trade in and device upgrade programs in the UAE. The platform provides multiple benefits by improving affordability of devices, keeping the devices in circulation and thus reducing e-waste and promoting sustainability in line with UAE’s vision for a circular economy.”
NorthLadder’s platform is auction-driven, on average offering the end consumer with upto 60% more value for their secondhand device compared to other trade-in programs run in the UAE. In addition, using NorthLadder’s tech-driven platform also benefits the retailer by encouraging consumers to upgrade or make new device sales.
The process is relatively simple – all customers must do is bring in their old device to the retailer. After an assessment, they receive an instant value for the device. Once the transaction is complete, the customer receives a voucher to purchase not just another mobile device, but anything available at the retail partner’s outlet.
Mr. Narayan Agarwal, CFO of EMAX comments: “We always strive to deliver the best value to our customers and put them at the centre of our decision making. Partnering with NorthLadder, gives us an opportunity to take this one step further by ensuring our customers get the best value proposition and services for their old devices. The company’s platform enables us to offer a higher value compared to the market on second-hand devices while encouraging additional sales and device upgrades.”
“Trade-in programs for consumer electronics are fairly nascent in this region compared to more matured European markets, with a huge potential to grow. We are partnering with NorthLadder to enable our customers to have a smooth and seamless trade-in experience at our stores. The partnership comes at a time when consumers are really looking to save on electronics purchases. This is a real value-add to our customers while also reducing e-waste and being more environmentally responsible.” – Jaouad Dakir, CEO of Ecity.
The trade in business is already 35% of NorthLadder’s entire volume from last quarter. Going forward, the demand for trade in and device upgrade programs is expected to grow. NorthLadder will play a key role in supporting this growth through increased partnerships, constant innovation and a growing network, all which position the company to always deliver the best value for their buyers and sellers.