60 percent of refurbished users still use their product and are satisfied with the purchase (score of 8.8). We have briefly summarized the main findings below.
- Doubling of the number of refurbished users: 37% have experience with a refurbished smartphone, tablet, laptop, computer or other tech product.
- More than a quarter of consumers are still not considering a refurbished smartphone, but 28% of the resistors can still be persuaded if they can have the product returned free of charge and without any problems if they do not like it
- Ten percent currently use a refurbished smartphone. Apple continues to have the largest share (45%), but Samsung has experienced the greatest growth.
- Desired price savings of refurbished smartphones seem to be growing and are strongly dependent on the current new price of the device. Refurbished is becoming an increasingly serious alternative for Apple, because the current new price hardly drops.
- The price savings compared to a new product remains important time and time again, there is no loyalty towards refurbished.
- 58% of consumers are willing to trade in their old smartphone, with the willingness being higher among refurbished users.
The refurbished tech market has grown significantly in 2022, but still has a long way to go
In short, the refurbished market has experienced good growth in two years and there is still a lot of potential for growth. Rising introductory prices of smartphones, chip shortages and a lower disposable budget mean that refurbished is being seriously considered by more and more consumers. Refurbished is increasingly being adopted by consumers, but there is also a significant group that is not yet convinced of this. Apple remains the market leader, but Samsung has caught up a lot in the last two years. The price savings compared to the current new price is very important for the consumer. Before each purchase, we check again and again whether the savings are sufficient. So again there is no loyalty to refurbished. The refurbished consumer is interesting for all parties that focus on trading in old smartphones. The willingness to trade in a device is greater among this group, which also stimulates the circular economy.
For The Great Refurbished Barometer 2022, BigSpark BV used:
- User data from Android Planet and iPhoned, based on the click and purchase behavior of current and potential refurbished consumers. iPhoned has 1.45 million visitors per month, Android Planet 1.52 million visitors per month;
- Consumer research through a survey questioning perception, intention and satisfaction. 2,664 people took part in the survey.