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If there is a way for the lower class to save money? They will adapt to that method for future saving. It’s no secret when you go to the market to purchase a brand new smartphone. On top of that if you have additional requirements. It will only add up to the price tag. Added quality compels you to increase your budget. The money that you don’t have to spare. In such cases. Two things will happen. The first one is that you will compromise and relent to buy a phone that doesn’t stand up to your every expectation. In the second strategy, you end up pulling out the savings that you need for rainy days.
The way we see it in both scenarios you are facing the loss. Why should a consumer suffer when they are spending an absurd amount of money. The solution to your problem is the second-hand smartphones market. Where you can buy and sell used phones. It’s a perfect place for both buyer and the seller.
You may wonder why a customer would be foolish enough to waste their hard-earned money on an old and damaged phone. When you are not completely aware of the behind-the-scenes strategies and benefits. It’s easy to come to the wrong conclusion. It is why we are here today. To explain what makes a second-hand smartphone market attractive for consumers.
Indian Second Hand Smartphone Market Analysis
Development & Growth
If we talk about the numbers between 2022 to 2027 second-hand and the refurbished market is predicted to accumulate at a CAGR of 10.23%. The second-hand smartphone market is not limited to buying damaged old goods like in the past. Now it is entirely a developed industry in itself. Where retailers or numerous online websites. Buy old phones, put them into different categories, and then it goes under the repairing process.
Reliability of Startups and Lower Class Consumers
Every company has high-tech gadgets to stay in touch with their customers and to meet the modern-day demand on time. However, when a business is in the startup state and doesn’t have much to fork out. The smartphone is a requirement that every employee in the company needs. A basic replacement for desktop or laptop.
For a startup to purchase the latest model and tech smartphone for numerous employees is impossible. That’s where second-hand refurbished phones come into the pictures. It’s the same for the lower class people. A tight budget becomes a roadblock in their way from acquiring a smartphone. A second-hand smartphone is their saving grace. Since it is cost-effective.
Discount and the Warranty
When you avoid purchasing second-hand devices from an untrustworthy retailer or a friend and acquaintance. In a way, you are protecting yourself from an unnecessary headache. Numerous reliable online and offline places buy and sell certified smartphones. Usually, many second handphones are sold within the first year of their purchase. It’s all about how much you can afford to spend. You can find from six to twelve-month-old phones. A phone that was only used for 6 months comes with a 20 to 30% discount.
But a phone that was used for more than 6 months and crossed the 8-month mark may come with a 40% discount. But you can get a great deal on second-hand phones that were used for one year. Such a phone will come with a 50 to 70% discount. The best thing about second-hand refurbished smartphones is that they come with a 6-month warranty and you are provided with a certificate. Samsung official stores are using the same tactics and serving every class citizen.
Attraction towards Amazon Returned Smartphone
When people purchase a brand new phone from amazon and the package is damaged during the delivery period. These phones are returned by the buyer. If the phone is perfectly fine then amazon ends up reselling these phones at a heavy discount. The second-hand phone buyer has practically received a brand new phone that wasn’t used by the previous buyer. Second-handphone users are always on the lookout for these devices. Because they also come with a one year warranty and heavy discount as a compliment.
Pandemic and Setbacks in Social Life
During the pandemic period, everyone faced loss. People who were working from home weren’t earning a full salary package. Most people were living off their savings. But kids needed phones to attend online classes and office workers also needed phones to attend meetings. But the production of the new phone was seized because the companies were closed. Folks to fulfill their requirements took different directions and started buying second-hand and refurbished smartphones. In these last two years, second-hand used phone sales have increased and they continue to grow after winning people’s trust and attracting their attention in their direction.
Final Verdict:- People every day realize the importance of the environment and how the mass unnecessary production of new smartphones destroys us and the atmosphere. To protect the environment. Instead of throwing away the old phone. Selling used phones on quick mobile seems like the right option. Where companies and retailers can repair mobile phones, refurbish or recycle old phones based on the existing condition.
