CompAsia Opens Latest E-Store In Singapore As It Champions The Recommerce of Mobile Gadgets in Southeast Asia

SINGAPORE - Media OutReach - 21 March 2022 - There is a new global movement in recommerce, which celebrates the trading of preloved items that extend the lifecycle of these items thus promoting sustainable and responsible consumerism.

CompAsia, which is championing the recommerce of mobile gadgets in Southeast Asia with unrivalled success in Malaysia, is inviting more customers to consider purchasing second hand gadgets such as smartphones, laptops, and smartwatches with the opening of new e-stores in Singapore and Thailand, and the promise of high-quality products at affordable prices.

"We have seen an exponential growth of 2,500% in our e-store business in Malaysia over the last two years largely driven by movement restrictions that amplified the convenience of doing business on the CompAsia platform, and the assurance that we only trade in original products and we offer the highest quality second hand gadgets," said Julius Lim, Founder and CEO of CompAsia, which currently operates in nine markets in the region.

"Customers trust that we are giving them excellent prices both when buying back their devices and selling them preowned ones on our e-stores," he said, adding that CompAsia's 32-step quality check that every device goes through, along with the secure data erasure to protect both buyers and sellers alike have also proven to be leading reasons for its growing customer base.

With deep expertise in the device business, CompAsia provides access to high quality devices that are backed by responsive after-sales service support unlike anything you'll find in regular C2C platforms or second-hand phone retailers. To date, CompAsia has sold over 500,000 devices globally and continues to ramp up sales at a blazing pace.

"The network upgrading from 4G to 5G is further pushing the sales of smartphones and customers are actively looking for the best deals and reliable trade-in options, which is why we are already seeing increasing traffic to our new e-store in Singapore," Julius said.

CompAsia.sg, which promises always affordable prices, is offering customers in Singapore an additional 5% discount on all devices as an opening special till 30 April 2022 that translates to almost S$300 off on its highest priced items. Customers will also enjoy CompAsia's three-month free warranty (extendable up to 24 months) and next day shipping. Payment options in Singapore are supported by GrabPay, MasterCard, Google Pay, Zip, PayNow and Visa.

"CompAsia is changing customers' mindsets in buying second hand gadgets as we are giving them the very best quality in each item and making every brand accessible to everyone," Julius said. "When you buy on a recommerce site, you are not only extending the lifespan of the item, but you are also diverting waste from landfills, which means a healthier planet."

About CompAsia

CompAsia is leading the recommerce of original high-quality second-hand gadgets in Southeast Asia with a mission to transform smart device ownership by maximising affordability and minimising e-waste.

Established in 2012, CompAsia currently operates in nine markets and collaborates with telcos, mobile operators, manufacturers, retailers, financial institutions, and insurance companies to offer customers a single partner for all their mobile gadget needs. CompAsia offers four strategic solutions in its ecosystem: Buyback & Trade-in, Remarketing, ReNew+ and InstaCover.

Information about CompAsia can be found at www.compasia.com

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