The rise of the Smartphone has been one of the most important technology developments of the past twenty years. This device has reached the stage now where it can be described as ubiquitous in western countries.
Most people now own one and they use it with considerable frequency. According to research on the subject, those in the US spend almost four hours each day using their Smartphones.
That is a remarkable statistic, but then we live in a technological age. There are so many things that people can do on a Smartphone that it is easy to see why they have been embraced so widely.
This article is going to explore one of the subsectors of that Smartphone ownership boom. The rise in people opting for refurbished second-hand models rather than new ones.
What People Use Smartphones For
A standard Smartphone user will deploy their device for many purposes other than just making and receiving phone calls. They can be considered multi-use devices for work and play.
Smartphones enable people to write documents, send emails and messages as well as other essential working tasks. They are also very useful as a one-stop-shop way to access various forms of entertainment.
Two common fun uses are to watch movies and listen to music via streaming services. They are often deployed to play games, such as casino ones, and to surf the internet too.
That could be to find casino sites to play at or for locating casino sites with quick payout options. People shop online using them and even carry out banking on their Smartphones – thanks to the development of secure internet banking.
They have a lot of different uses then, which explains their overall popularity. It does not explain why more people are now choosing second-hand Smartphones though.
The Second-hand Smartphone Boom
It cannot be disputed that there is a boom in the adoption of used Smartphones. Over the course of last year alone, close to 300 million of them were shipped throughout the world.
That figure incorporates both used models and ones that have undergone refurbishment by professionals. It is not a market that is predicted to slow down any time soon either.
By the end of 2027, the number of used devices being shipped around the world is expected to reach more than 431 million. That would represent compound annual growth rate of 8.8%.
The profits from renovating and shipping the devices are growing too. They stood at $50 billion three years ago and are forecast to hit close to $144 billion by early in the next decade.
India and Latin America are the biggest markets for refurbished Smartphones, but the market is growing in most other countries as well. It is clear that people find it much more acceptable to buy a Smartphone second-hand than they did before.
Reasons for the Growth in Second-hand Smartphone Usage
If we want to understand what has brought about this change, we must look at several trends within the market. Factors that are influencing the direction of travel include:
- Tech improvements
- Sustainability concerns
- Rise in marketplaces
- Spiraling living costs
The first key reason why more people are buying second-hand Smartphones is that the technology used to refurbish them has improved. That means they can now be restored to the same standard as brand new devices.
Then there is the increasing level of consumer awareness when it comes to sustainability issues. Buying a refurbished Smartphone is better in terms of sustainability and the environment than opting for a new one. The biggest customer base for the devices is younger people and they are also the demographic that is most concerned about the environment.
A third factor that is driving the trend is an increase in the number of marketplaces offering second-hand Smartphones. That makes it much easier for people to find the models they want and buy them than it was before.
Last but not least, there is the issue of rising living costs. This is making people search for ways to reduce their expenses and a refurbished Smartphone is cheaper than a brand new one.
Will This Trend Continue?
All of the available figures tend to point towards the market for used Smartphones continuing to grow. That is supported if we consider the trends that are driving it.
There is little chance that people will be less concerned with sustainability any time soon. The techniques used to refurbish the phones will continue to be refined too; so the quality of second-hand devices should keep getting better.
People are much happier to buy a Smartphone that has been used than they were in the past. There are many reasons for that, but it will continue to happen.