New data shows Rising Global Demand and Aging Trade-Ins Fuel Pre-Owned Smartphone Market

In a groundbreaking study by Circana and B-Stock, new data reveals the substantial collision between aging smartphone trade-ins and the increasing global demand for pre-owned devices. This trend is primarily driven by consumers seeking cost-effective alternatives amid rising inflation and a volatile economic climate. As the market for pre-owned smartphones expands, emphasizing sustainability and affordability, businesses worldwide are beginning to recognize the untapped value of trade-in programs. The Circana report highlights the role of emerging markets, where the hunger for affordable technology fuels this surge. The findings suggest a robust secondary market for smartphones, which not only benefits consumers but also aids manufacturers in achieving circular economy goals by prolonging device life cycles. Retailers and technology companies are urged to adapt their strategies to capitalize on this expanding sector, ensuring a steady inflow of quality pre-owned smartphones to meet the surging demand. This paradigm shift in consumer behavior underscores a pivotal moment in the electronics market, where pre-owned technology asserts its relevance.

Circana

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