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Dutch startup GrantyCard claims to be the first company in the Netherlands to provide buyers of exclusive products with a fixed residual value. If a customer buys a product with a GrantyCard and turns it in within one year, he or she will receive a predefined price and the product gets a second life through to re-commerce companies such as Leapp and iUsed.
“We start with Apple, Samsung, race bikes and prams”, says initiator Antwan Echtelt. “Companies offering these second-hand products (so-called re-commerce companies red.) are missing a fixed channel where they can buy their products. GrantyCard assures these companies of a purchasing channel and the consumer of a fixed residual value. It’s a win-win situation.”
For example, a consumer purchases an iPhone 6s and a GrantyCard with a guaranteed residual value of 225 euros and a two-year subscription. He activates the GrantyCard at GrantyCard.com and receives a reminder before the end of the term. Then he sends the iPhone to GrantyCard and receives the 225 euro in his bank account within five days. “You could call at a deposit 2.0”, says Van Echtelt. “And no hassle with online marketplaces and payments. No strangers at your door.”
“The GrantyCard also has a beneficial effect on retailer sales”, says Van Echtelt. “Consumers are more willing to buy exclusive products when they get it back. This has been demonstrated in practice with, for example, AppleCare, which ensures a longer product warranty.” GrantyCard itself sells the merchandise products to re-commerce companies, which includes long-term contracts. Thus, the company moves through all the facets of the market; it stimulates the sale of new products and ensures the accumulation of high-quality second-hand products. And the customer? He gets security for his money.
Number of stores
The GrantyCard is already in a number of stores, like at Ritel, a telecommunications company with 21 branches. And Xando, a dedicated premium reseller for education already offers GrantyCard online. Van Echtelt is also in negotiation with a number of major online and offline retailers. “I notice that the current market needs a product like the GrantyCard. Slowly companies begin to see the advantage.” He expects that the GrantyCard will be found in hundreds of stores by the end of 2017 and plans to sell 2,500 in the meantime.