If you are a used cell phone wholesaler or retailer, you want to be in the loop on any smartphone trade-in trends that might impact your profitability. This post will get you up to speed on trade-in trends from 2021!
5 Smartphone Trade-in Trends Used Cell Phone Wholesalers and Retailers Need to Know About
WeSellCellular is a leading provider of wholesale used iPhone and Android devices. We track smartphone trade-in trends to help used cell phone wholesalers and retailers navigate an often-volatile and unpredictable market.
Here are five smartphone trade-in trends we noticed in 2021.
1. Mobile Device Trade-in Volume Increased Year Over Year.
Mobile device trade-in momentum and growth from 2020 continued late into 2021, and did not slow until late September.
In the first eight months of 2021, we saw an 85% increase in volume across our suppliers versus the same period in 2020.
First-quarter volume was about 37% higher than in the same period 2020. And in the second quarter, volume was a whopping 293% higher.
2. Mobile Device Trade-in Volume Held Steady Throughout 2021.
We normally see a substantial drop-off in used cell phone trade-in volume in summer. However, we did not see this drop-off this year.
Last year, there was a 50% drop in trade-in volume between the first and second quarters. This year, we saw an 8% increase in trade-in volume between the first and second quarters.
3. The Wholesale Market for Used Cell Phones Outperformed the New Phone Market During the COVID-19 Pandemic.
The COVID-19 pandemic forced many used cell phone wholesalers and retailers to temporarily shut down their operations or shift to an ecommerce model; however, the market quickly rebounded after the initial shutdowns.
Will Stofega, program director for mobile phones at global market intelligence firm IDC, noted that since the COVID-19 pandemic started, the used cell phone market shows no signs of slowing.
IDC projects that used smartphone shipments will reach 351.6 million units in 2024 with a compound annual growth rate of 11.2% from 2019 to 2024.
4. Smartphone Shipments Are Increasing.
Research indicated U.S. smartphone shipments increased 21% year over year in the second quarter of 2021. It also showed industry-wide smartphone shortages limited the number of shipments and growth that could have been achieved during the time frame.
Increases in shipments of new smartphones should point to growth in the used phone market, as trade-ins increasingly become part of the buying process.
5. iPhones Are More Popular than Android Devices.
Apple held a 53% share of the smartphone market in the second quarter of 2021. This is due in part to steep demand for the iPhone 12. Shortages of iPhone SE models hampered Apple’s potential growth.
Samsung held a 26% share of the smartphone market in the second quarter.
Although iPhones may be more popular than Android devices, used cell phone wholesalers and retailers can provide both options to stir up widespread interest in these products.
2022 Smartphone Market Trends to Watch and What They Could Mean for Used Cell Phone Wholesalers and Retailers
The number of 5G smartphone units sold is projected to reach 725 million units globally in 2022, up from an estimated 525 million in 2021.
Apple released iOS 15 on Sept. 20, 2021. It released its Apple 13 models four days later. These releases will drive a new trade-in cycle in fall and winter 2021 and beyond.
Android 12 became generally available on Oct. 4, 2021. This is likely to provide you with increased access to older Android models. And it could give you many opportunities to supply competitively priced used Android devices to drive sales and revenue.
The big question is whether 2022 trade-in volumes will match 2021 volumes for both Apple and Android phones. If they do, this spells a lot of opportunity for you.
iPhone and Android Cell Phone Trade-in Comparison
Performing an Android and iPhone trade-in comparison can be beneficial for you in the months and years to come. The comparison can help wholesalers and retailers weigh the pros and cons of various used Android and iPhone devices. From here, you can decide which devices best suit your customers’ preferences.
Most of the world’s smartphones run Android. These phones are customizable and give users the flexibility to place widgets anywhere they choose. The phones let users download third-party replacements for core services. They allow users to expand their device’s storage capacity and have USB-C ports for universal charging and data transfers. And they are typically updated more frequently than their iPhone counterparts.
iPhones are terrific choices for users who are fully entrenched in the Apple ecosystem. These smartphones can be used in combination with an iPad, Apple Watch, and other Apple devices. They have many of the same features as Android smartphones. iPhones provide users with access to a wealth of quality third-party apps and accessories as well.
There is a lot to like about both iPhone and Android models. For used smartphone resellers, it pays to offer iPhone and Android devices. You should also perform industry research, so you’re well-equipped to provide the best devices for your customers.
Used cell phone providers should learn as much as they can about all types of iPhone and Android models. Monitor iPhone and Android device news. Consider customers’ expectations in terms of smartphone pricing, too.
Ultimately, used smartphone resellers need to do everything in their power to provide outstanding products at economical prices. By working with WeSellCellular, resellers can get the help they need to fulfill their customers’ used smartphone requests.
Stay Up to Date on Smartphone Trade-in Trends
WeSellCellular keeps used cell phone wholesalers and retailers in the loop regarding trade-in trends for smartphones.
In addition, we provide a wide range of wholesale Android and iPhone devices every day. Access our smartphone product inventory 24/7 and explore a variety of models. Browse our used cell phone inventory today!
Sources:
https://www.counterpointresearch.com/us-market-smartphone-share/
