India’s leading re-commerce platform Cashify has finished 2025 on a strong note, reporting nearly 40 per cent year-on-year growth in its refurbished direct-to-consumer (D2C) business and 16 per cent growth in trade-ins. The company said its performance during the festive season underlined growing consumer confidence in certified refurbished appliances and marked another year of expansion for India’s recommerce sector.

According to the company’s year-end snapshot 2025, Cashify refurbished and sold more than 3 lakh smartphones through its D2C channel this year. It said the growth was supported by wider EMI adoption, better supply depth and consistent demand across various price segments.

“This year’s trade-in patterns tell us exactly where India is headed: towards a mature, sustained upgrade cycle. In 2026, our focus is to build a stronger, more diverse supply engine by expanding doorstep programs, penetration in stores and enterprise channels. As these streams deepen, we unlock the potential to bring premium refurbished devices to more markets, at better value, and at far greater scale. This is how we transform India We move closer to making the U.S. a global hub for recommerce and remanufacturing,” said. Nakul Kumar, Co-Founder, Cashify.

2025 trends

The company said this year’s festive demand grew more due to timing than volume. Compared to the May-August average, D2C festive sales grew by only 2 percent, but peak shopping days saw almost double the non-peak daily order volume. The festive months contributed significantly to category conversion, average price per device and trade-in activity.

Festive trade-ins accounted for 35 per cent of the year’s total, while buybacks increased by 129.42 per cent compared to regular months. The festive season saw a growth of 33.67 per cent in total volumes and 39 per cent growth in revenue. Mid and mid-premium smartphones priced between Rs 15,000 and Rs 50,000 accounted for over 69 per cent of the festive demand. According to Cashify, this trend indicates that renewing buyers are now prioritizing performance and quality at lower prices.

Mobile D2C sales accounted for approximately 20 percent of all devices refurbished and sold in 2025, indicating the growing maturity and consumer acceptance of this segment.

2026 expectations

Looking ahead, Cashify expects another strong year of strong growth in 2026, with its business projected to expand 30-35 percent. While smartphones will remain the company’s main focus, non-smartphone categories like tablets, gaming consoles, smart wearables and enterprise devices could play a more meaningful role in its portfolio.

Its recent partnership with Amazon as a certified reseller of Amazon devices is expected to boost this diversification. These categories will benefit from better sourcing, enhanced refurbishing capabilities and greater visibility across an expanded offline network of over 300 planned retail stores, Cashify said.

The company has set an ambitious sustainability target for 2026, aiming to prevent 2.4 million devices from ending up in landfill. This effort is in line with its broader mission to extend the lifecycle of electronic products through refurbishment and recommerce.

The 2025 data also highlights how India’s recommerce and remanufacturing ecosystem is evolving. The festive season acts as a major trigger for the upgrade cycle, with consumers trading in old devices to purchase new ones, thus boosting the supply chain of refurbished products throughout the year.

The company also noted growing momentum in non-smartphone categories, indicating the early formation of a multi-device circular economy. As supply chains deepen and refurbishing technologies improve, India’s recommerce sector is set to expand to a broader range of electronic products, paving the way for long-term, sustainable growth.