An online marketplace has been launched where individuals and businesses can buy, sell and rent used products.
Verified members of YallaBargain.com can sell or rent out their products to other members using the platform while the website takes care of the delivery and payments for all orders, a statement said.
It also acts as an online sales channel to hundreds of second hand retail businesses and product rental companies in the UAE.
The market in the UAE for used items excluding motors and properties is estimated at over $10 billion.
"With the UAE being an expat driven country, it’s an ideal hotspot for used products as there is a continuous inflow and outflow of expats," the statement said, adding that it aimed to move the likes of flea markets and car boot sales online.
Murugesh Mohan, the co-founder of YallaBargain.com said: “YallaBargain.com is a solution which the people of UAE are looking for. We met over 5,000 people in malls and food courts across the UAE for over six months to understand the problems they faced when it comes to transacting used products. We then custom-built and developed the first online marketplace for individuals and businesses to transact used products.”
Sai Naveen, also a co-founder of YallaBargain.com, added: “The response has been very encouraging. We already have over 1,500 products listed on the platform with a gross merchandize value of over $100,000 which is growing aggressively every day.
"We are looking for an investment of $500,000 with an initial target of 100 orders a day.”
YallaBargain.com won second place in the first international pitch competition organised by the UAE Ministry of Economy at AIM Startup 2018 held this month. The organisers had shortlisted 200 startups from over 600 applications from over 25 countries.For all the latest retail news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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