Uncover the used phone market that you don't know

Maybe you've been a consumer of brand new phones all the time, maybe you know a little about the used phone market, maybe now you have some interest in the used phone market. This article will let you know the second-hand mobile phone market that you don't know.

How big is the global used phone market? The answer is unbelievable. According to a research report provided by Gartner, a well-known information technology consulting company in the United States, the value of second-hand apple equipment sold on eBay in the United States alone in 2013 was nearly $2 billion. As of 2017, the number of transactions in the global market, which were only refurbished mobile phones, increased to 120 million units, with a cumulative scale of more than $48 billion.

In developed countries, the market is relatively mature due to the joint participation of operators, brands and recycling agencies. C2B (consumer to business), that is, the transaction recovery rate between individual and professional recycling agencies is around 30%.

In the eyes of the media and many businesses, the Internet and offline entities are a pair of eternal competitors, which are different from each other and play against each other. But in the second-hand mobile phone industry, this is not a zero-sum game.

At present, the recycling of local small traders still accounts for the main market. The characteristics of such businesses are scattered, large amount, small scale, poor service and even risk of information security. The number of small traders scattered should be more than 10 times that of professional recycling agencies.

There is still a lot of room for the transformation of the Internet platform. Due to the addition of the Internet, the efficiency of the industry has been improved, standardized, and creditized. The overall development of second-hand transactions has become faster and more standardized.

In the past, individuals, individual recyclers, and second-hand wholesalers formed the entire network of second-hand transactions. But now more and more competitors including the Internet have joined: e-commerce platform, brand manufacturers, Internet recycling platforms, but also offline mobile phone sales points, brand agents and so on. Many players, although there is competition in the second-hand recycling market, more are pulling each other, making the entire industry prosperously development.

With the increasingly fierce competition and the increasing acceptance and recognition of second-hand items by young consumers, the frequency of consumption in the second-hand mobile phone and the proportion of high-income consumers are increasing. The used phone trading market is already on the rise.

Apr 18,2019
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