Is Refurbished the Future of Consumer Tech?

Have you ever wondered how unsustainable it would be if everyone were to upgrade to a new phone each year? Something’s got to give, and for that reason, smartphone companies’ flagship phone sales are, well, flagging. The truth is, no one really has a thousand pounds to spend every year on the latest technology. The introduction of refurbished phones and phone trade in options has given us ways to save money while still enjoying the luxury of choosing what brand and model we buy.

The Refurbished Market Growth

It was just a couple of years ago when we saw impressive smartphones such as the iPhone X, the Galaxy S8, and the Pixel XL by Samsung and Google, respectively. Competitors from Asia and India were on the horizon, but they haven’t begun to make their mark yet. Back then, we could have sprung for new mobiles, but the cost of keeping up was unrealistic. The refurbished, or ‘renewed’, industry is the counterpoint of new phone sales and offers the same quality but at a lower price tag. The trend caught on, and the industry grew 13 per cent, or equivalent to 140 million phones in 2017, which was higher than what new phone sales made. {Source: }

The refurbished industry in the US was the same: Serge Verdoux reported a growth of 22 percent, or roughly equivalent to 10 times that of what Europe experienced in refurbished sales.

How Refurbished Affects Tech Goods

It’s not just smartphones that have refurbished alternatives. General tech goods, notably TVs, laptops, appliances, and others, are getting ‘renewed’ tags for the budget-minded consumer. Businesses can, for instance, get cheaper equipment as a way to save money for other things. People tend to choose refurbished after they know what the term means. Basically, refurbished is just like any new item that’s the same model and brand. They go through rigorous checks and testing before they’re put on the shelves.

Rise of Refurbished: Factors Involved

The average consumer won’t be able to upgrade to the latest smartphone each year. We all have equally important expenses to allocate to our budgets, e.g., food, rent, and utilities. Tech companies, on the other hand, need to generate sales to keep growing and pay their employees. Refurbished goods were hugely successful in the EU and US, so manufacturers followed and started offering their own refurbished goods. Increasing awareness, easy access to information on the web, and government regulations made it all the easier to choose between a renewed or brand-new gadget.

How did refurbishment change the industry?

New smartphone companies in India, Asia, and Africa filled in the mid-range to budget niche not just in their respective regions but in the UK and U.S. as well. Mobile carriers followed suit and sold lifecycle services, along with refurbished phones that locked users for up to 3 years. Exchanging your old phone and recycling it just got a lot easier. Companies such as LG, Lenovo, Samsung, Apple, Dell, and others are now offering take-back programmes and recycling initiatives where consumers can exchange their digital goods for cashback or discounts on newer products. On the internet, recycling sites can accept gaming consoles, laptops, tablets, and phones and give you cash.

What’s Next for the Refurbished Market?

Refurbished is definitely expanding as more and more people prefer a cheaper alternative when it comes to upgrading to a new phone, laptop, or appliance. Then, they can save up more and recoup the costs by recycling their old phone or device on Facebook, Craigslist, eBay or a

. Refurbished is gentler on the environment compared to new phone sales. Consumers can contribute to a lower carbon footprint by choosing to renew and maximising the use of their new smartphones. The less sooner you throw out a device, the less it fills up landfills and leaches toxins to the ground. That said, the refurbished market is going strong and should continue to grow in the foreseeable future. Analysts at the IDC echo this sentiment and say that the industry can expand to as much as $52 billion in five years. {Source-}

Why You Should Consider Renewed Products

Buying renewed is good for the environment, the company, and the consumers. Consumers. Individuals who don’t mind a brand-new device can opt for refurbished ones and save money by doing so. Since it works and looks new, there’s really little to no difference. When there’s high demand, pretty soon all manufacturers will start offering refurbished goods on appliances, smart electronics, tablets, laptops, and phones, which is a win for consumers. Environment. Instead of ending up in landfills, used phones can be recycled or harvested for precious metals and other components. The lifecycle of the device is extended, which means a lower carbon footprint. Companies won’t have to produce more brand-new models and, therefore, use up less water and gas. All signs point to progress, with refurbished leading the way. It’s the future of consumer tech and the right choice for the environment.

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