Unlike before, upgrading to the latest iPhone models is no longer the norm for Apple product users.
In recent years, iPhone users have tended to keep their phones longer than users of Android brands like Samsung , Google, Huawei, and Xiaomi. However, another trend that has also accompanied this is that refurbished iPhones are becoming the preferred choice for many people.
Refurbished iPhones are increasingly gaining consumer confidence.
According to recent data, iPhone 16 sales have fallen 13% compared to the iPhone 15, suggesting that consumers are not seeing significant enough improvements to justify upgrading. Instead, they are looking to buy refurbished or used iPhones, with the latter being popular in Apple’s key markets.
Refurbished iPhones are products that have been returned due to certain issues, then inspected, cleaned, and repaired if necessary before being sold back to users. Although they are almost brand new, because they have been opened, they are classified as refurbished products and have their own distinguishing features.
Refurbished iPhone models look no different from new ones, but are much cheaper.
The fact that refurbished iPhones are cheap and look like new makes them really appealing to consumers. In fact, Apple itself has recognized this trend and has invested in the refurbished iPhone market for many years. Notably, not long after launching a new line of devices, they are also available at Apple refurbished stores.
According to a report from Counterpoint Research, the refurbished iPhone market has recorded a 5% growth from 2021 to 2022, despite recent technological improvements from Apple and other companies. Notably, Apple currently accounts for half of the refurbished smartphone market.
There are many reasons why refurbished iPhones have grown in popularity recently.
Explaining the reasons for this shift, analysts say that consumers are becoming more aware of the sustainability and environmental impact of their purchases, leading to an increase in the choice of refurbished devices as a cost-effective and environmentally friendly solution.
This trend is driven by confidence in the quality of refurbished devices thanks to rigorous repair procedures and warranty policies from specialized companies. In addition, the high prices of new devices and insignificant improvements between models have led many consumers to look for more affordable options that still guarantee high performance.
Ironically, refurbished iPhones are also growing right on Apple's home turf.
Statistics in Europe show that 43% of users already own refurbished smartphones, with companies like Back Market leading the way in driving the increase. Back Market's success, with sales of more than $1 billion in France, shows the huge potential of this sector. The company's CEO Thibaud Hug de Larauze predicts that in the future, about 90% of adults will choose to repair or buy used products instead of new ones.
In the US, the refurbished market is forecast to grow 13% annually through 2032. While factors like the delay in the iPhone 16 launch and the approach of the Christmas season could boost sales, the trend suggests that they are having a hard time winning over consumers. Ironically, refurbished smartphones are gaining traction right on Apple’s home turf.
