A survey of consumers conducted byBack Market, the largest marketplace exclusively dedicated to refurbished electronic products and appliances, reveals that 94% of consumers would definitely purchase or consider buying a refurbished smartphone, laptop, tablet, smart speaker or other electronic devices as a gift this holiday season. The survey was conducted on more than 300 gadget buyers in the US and illustrates a growing positive sentiment about not-so-new devices.
Topping the list of reasons why consumers feel that refurbished devices make savvy presents is the cost/value of a certified refurbished device compared to buying brand new models, with 44% of respondents saying that price was their main motivation. Environmental consciousness was the primary driver for 19% of respondents, who worry about the negative impact of electronics manufacturing and e-waste on the Planet Earth.
Among Back Market customers who have purchased a device in the last three weeks, 33% indicated their purchase was for a holiday gift. Despite the products not always coming in their original packaging, 65% of respondents indicated that they were not concerned about the packaging of the device if they were gifting it and indicated that they would not be embarrassed or attempt to conceal the fact that their gift was refurbished.
“We are seeing increasing acceptance, and in fact enthusiasm, about buying refurbished electronics, and this survey underscores the main reasons why. Consumers are realizing there are better alternatives to buying new devices, both for economic as well as social consciousness reasons,” said Serge Verdoux, Managing Direct of Back Market, North America. “In the context of the holiday gift buying season, this also shows us that people see a positive message being sent to their gift recipient by giving them something that has a meaning beyond the surface, a similar feel-good quality as adopting a puppy from a shelter.”
Market forecasters are bullish on retail sales for this holiday season, predicting up to a 5% increase over last year. Consumer electronics annually dominated the type of products people buy as gifts each year. Meanwhile, sales of refurbished devices are surging, with market researcher Counterpoint Research reporting 10% year-over-year growth in Q2 2018 in the used smartphone segment, compared to a 1% decline in new unit sales.
Among the most popular items on the Back Market site this holiday season are:
- Apple iPhone 7
- Apple iPad Mini
- Apple iPad 4
- Chromebook Series 3 11’’
- Devialet Phantom Wireless Speaker