Indian Homes Have Rs 78,300 Cr Worth of Used Goods: OLX Report
Indian homes are estimated to have over Rs 78,300 crore worth of used goods like clothing, utensils and books, a study by used goods marketplace OLX said today.
According to the third edition of Consumer Research on Used Goods and Selling Trends (CRUST) Survey 2015-16, the estimated market for used goods was about Rs 56,200 crore.
In its first survey in 2013-14, OLX had coined the term Brown Money to represent the value locked in unused goods gathering dust in homes.
The report prepared by OLX and market research firm IMRB found that on an average, every Indian household is stocking 12 clothing items, 14 kitchen utensils, 11 books, 7 kitchen appliances, 2 mobile phones and 3 watches.
South India leads other regions on stocking, while among cities, Chandigarh and Kochi at 98 per cent le...