By Andy Sambidge
Cash Converters' business model based on buying and selling of second-hand products
The world's largest specialist in the buying and selling of used goods has opened its first store in Dubai.
Australia's Cash Converters has opened a store on Sheikh Zayed Road where customers can sell unwanted goods or buy used items.
Since launching in Australia in 1984 the company has grown enormously with representation in 21 countries worldwide and a network of over 600 stores.
But Dubai is an unlikely choice for the company as the emirate is best known for its luxury offerings such as Dubai Mall, the Burj al Arab hotel and the Burj Khalifa, the world's tallest tower.
"The used goods business is not new in Dubai, however the concept of being able to buy and sell used goods through a store is," said Fabrice Le Boulenger, general manager, Cash Converters Dubai.
"Cash Converters is a unique retail concept in that the public are both our customers and our suppliers."
The Cash Converters business model in Dubai is based largely on the buying and selling of furniture and white goods.
Spread over two levels, the new store features a children's furniture section, musical instruments, electronics and jewellery with the whole of the ground floor given over to the large stock of furniture.
Cash Converters buys items of value and in good condition giving the seller a fair price for their goods. These items are then available for sale in the store.
Cash Converters in Dubai said it will have stringent measures in place to ensure all goods sold in the store are legally owned.
Customers have to be over the age of 18 and present a valid ID. Records will be kept for all transactions, it added.
Le Boulenger added: "Our show room location on Sheikh Zayed Road will be a key to our success. Situated close to densely populated expat areas we expect our accessibility will make us a popular buying and selling hub."
Nice move should have been done long time ago count me as acustomer, Good Luck
Where actually is it?!
Where are they?
On Shaikh Zayed Road....close to 4x4 motor....in the same stretch of oasis center and toyota showroom...
It is between Mitsubishi Motors building and 4X4 motors. The sign is partially blocked by the metro so watch for it carefully.
Pleased to see it has come to M.E. at last. It is a tested business concept in many countries. I thought that the archaic agency laws and ego issues in UAE might be a hindrance. Tiem will tell. I hoep it works well, great for the needy segment (I am not counting out the 'igotit' class).
thanks Just Sayin... I will watch out for it.
Cash Converters has a bit of a reputation for ripping off the poor in the UK - it's essentially a pawn shop. You take in goods, they give you cash, and you buy back your goods later at a higher price.
HOWEVER....this could be very good for all of those expats taking the advice of those people who keeping telling them 'if you don't like it, leave'. If it's your last day and you've still got a load of furniture and bits you need to get rid of before flying home, this could be indispensable.