Customers earned over $3 billion in trade-ins final 12 months

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Assurant launched its 2021 Annual Commerce-in and Improve Trade Traits report, and the outcomes are intriguing. Via smartphone trade-in and improve packages, shoppers earned over $3 billion in 2021. This quantity is up by practically $1 billion from 2020.

Key findings from the report:

  • There was a 220% improve in on-line trade-ins between Q3 and This autumn 2021.
  • iPhones (together with iPhone XR, iPhone 11, iPhone 8, iPhone 8 Plus, and iPhone X) had been the highest 5 gadgets traded in.
  • iPhone trade-in values, at a mean of $199, had been twice as a lot as Android, which earned a mean $98.

Customers earned extra in This autumn.

  • This autumn 2021 is when these outcomes jumped. Customers introduced house a complete of $1.1 billion, a rise of 40% from Q3. 
  • The iPhone XR made up 33% of the highest 5 turned-in telephones.
  • The common age of trade-in gadgets decreased barely. The common iPhone at trade-in in Q3 was 3.39 years previous; in This autumn it was 3.36 years previous.

This autumn is historically a powerful quarter for trade-ins and upgrades due to new smartphone releases…together with vacation purchasing. Remarkably, this previous This autumn noticed trade-ins and upgrades skyrocket—placing over $1 billion into US shoppers’ pockets and contributed to a record-breaking 12 months which is really unimaginable and reveals simply how vital trade-in and improve packages are to maneuver shoppers to 5G.

Biju Nair, EVP and President, International Related Residing at Assurant

The place 5G performs a job

These knowledge appear to be an indication that iPhone customers want to change to 5G.  In accordance with the GSA, there are at present over 1,200 5G-capable gadgets in the marketplace. Via trade-in and improve packages, it’s simpler than ever for shoppers to get their arms on a 5G cellphone.

Many operators, OEMs, retailers and cable firms run trade-in and improve promotions to encourage the transfer to 5G, and these incentives are clearly working. We additionally see extra shoppers making their trade-ins on-line, which undoubtedly is offering a lift to the general trade-in metrics. And, for added trade-in comfort, we’ve got enabled capabilities like ‘take home-trade later’, which permits shoppers to buy a tool in retailer and trade-in their older gadgets from house later.

Biju Nair, EVP and President, International Related Residing at Assurant


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