Every year, the annual Trade and Upgrade Industry Trends Report publishes a report to see how this market is still largely unknown to the general public. Behind this extended name actually hides the world of recovery and online exchanges. An ecological market, which is gaining more and more importance and which allows customers to make great savings while having state-of-the-art products.
Note that of the five devices most exchanged by users, all products come from the Cupertino company, respectively the iPhone XR, iPhone 11, iPhone 8, 8 Plus and X. These exchanges are even up sharply over the past year. In its report, the Assurant company assures that online exchanges increased by 220% between the third and fourth quarters of 2021.
iPhones earn twice as much as Androids
Still according to Assurant’s report, iPhone trade-in values averaged $200, which is 100 greenbacks more than for Android devices that trade at half price. The clear result of this increase in online trading at the end of the year is that it was the time of year that brought in the most money for consumers.
Interesting information to take into account when analyzing and understanding these figures, the average age of repossessed smartphones has slightly decreased during the last quarter of the year. Indeed in the third quarter of 2021, the average age was 3.39 years old, it was 3.36 years old in the fourth and last quarter of 2021.
The iPhone XR far ahead
Among the most popular phones, the iPhone XR occupied the top of the basket with one in three exchanges made from this “entry-level” model for Apple. The fact that these exchanges are increasing at the end of the year is also not a big surprise for analysts who note that this was also the case in 2020 and 2019.
The market for online swapping and trade-in of older models is expected to continue to grow in the coming months, with phone carriers in particular pushing for consumers to upgrade to newer phones equipped with 5G modems.