Home » Refurbished Day, the market continues to grow: +14% in 2023

Refurbished Day, the market continues to grow: +14% in 2023

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Refurbished Day, the market continues to grow: +14% in 2023

The manufacturing process of a smartphone constitutes at least 80% of its polluting footprint: a recent estimate from Swappie quantifies it at around 80 kg of CO2 per device.

With a annual global production exceeding one billion of units, are emissions that become extremely significant and which are clearly aggravated by the entire upstream and downstream supply chain: from rare earths, precious metals and other raw materials, to intercontinental shipping. In fact, packaging and international shipping contribute another 2 kg of CO2 per smartphone. The problem is that We recycle smartphones very little (less than 15%) and most end up in landfill. The only path that is being consolidated to extend the life of these products, which once disposed of are transformed into the so-called (and highly polluting) WEEE, is the second-hand market.

In particular, that of reconditioned ones. That is, phones overhauled from top to bottom, refurbished only for the necessary parts and resold with heavy discounts and at least a two-year warranty.

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The growth of the global refurbished car market

For a few years, on March 5th some of the specialized platforms, from CertIdeal to Refurbed, celebrate Refurbished Day. A commercial initiative but which at least has the merit of returning to focus attention on a parallel supply chain that is progressively gaining ground. Globally, for example, the market for refurbished devices grew by 14% in 2023, with a market value expected to reach $143.8 billion by 2031. In short: if it’s a niche, it’s getting big. And above all its success seems to be thanks to these platforms which have incorporated the value of sustainability by integrating it into a chain of controls which users on average trust and which leads to purchasing opportunities capable of bringing high-end devices closer to the prices of the middle range. Almost.

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Environmental motivation

Nonetheless, the environmental weight of this choice remains central. According to a little research by TrenDevice, 16% of Italians replace their telephone once a year, 25% every two years and 35% every three years. Only 22% say they do it less frequently. For this reason, at least in this sector, the switch seems to have been flipped: more than 52% of those interviewed have purchased or are willing to buy used/refurbished devices exclusively for environmental reasons.

Furthermore, 42.25% declared that they had repaired or that would repair damaged devices to contribute to the reduction of electronic waste. On this, European regulations are allowing, and will allow in the coming years with the directives on the so-called Right to Repair, further economic savings and also in terms of electronic waste. That’s not enough: according to the survey, this value has once again become of interest to manufacturers even when purchasing new phones. About 80% of those interviewed prefers companies that adopt sustainable practices in the production of electronic devices. A tangible example of reverse vectorality in terms of influence: a secondary market that projects onto the main one, of which it is a child, values ​​that consumers expect from brands and products fresh from the factories.

A passion that involves the entire sector

Among other things, the sustained growth of refurbished products is part of a perimeter, this time supported by more solid data (those of the Second Hand Economy Observatory and drawn up by BVA Doxa), on the second-hand goods market. There are around 24 million Italians who habitually buy and sell used products, generating an economic value of over 25 billion euros, destined to grow further in the future. A transversal phenomenon in which the refurbishment platforms have been able to insert themselves effectively: if no particular skills are needed to evaluate the conditions of a used coat, in the hi-tech sector the various Swappie, Refurbed, CertIdeal and company act as guarantors, checking the status of the devices, fixing them and providing further guarantees (about this, these are the points to pay attention to before choosing one). In particular, Refurbed has expanded the range of refurbished products offered in recent years: the latest stage is the expansion of the offer also to the sports equipment sector.

Also an Amazon investigation last December confirmed, from the point of view of the US giant, that Italians love to hunt for bargains on second-hand items. 71% of consumers interviewed said they appreciated looking for deals on second-hand and refurbished items, with 41% explaining that they always look for used items first and almost the same percentage saying they had done so for more than 5 years. The study, conducted on a sample of 2 thousand Italians aged 18 and overalso found that 94% of consumers check used versus new prices when shopping online and that 44% refuse to pay full price for any product, be it clothing, technology or household items. home.

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The price factor: savings of 30%

After two years of galloping inflation, the economic element is obviously central as much as the environmental one: refurbished phones offer consumers the possibility of incurring an expense that is on average 30% lower than that for a new device at full price. “The strong growth in retail prices that has characterized recent years, and which continues today, has forced Italians not only to cut back on non-primary expenses, but also to change their purchasing habits – he explained Salvatore Macrì, country manager of CertiDeal – We have always believed that smartphones are a basic necessity and for this reason we are committed to providing refurbished devices that are not only convenient, but also reliable and high-performance, so that our customers feel satisfied with their purchase, knowing they have obtained a premium product at an affordable price.”

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Top models: Apple beats them all

In 2023, smartphones were the protagonists of the refurbished sector followed by PCs, laptops and tablets, with growing adoption also in the household appliances sector such as washing machines, ovens and refrigerators. In Italy, young people (18-24 and 25-34 years old) are particularly inclined to these choices, preferring green products and high-quality devices at affordable prices. There are, however, among the least accustomed to reconditioned vehicles in the world the over 55s, last in the rankings by purchase volumes.

On the used front, Apple confirms itself as the Ferrari of smartphones: analyzing preferences in terms of brands and models, according to the purchasing data released by CertiDeal, iPhones continue to hold the lead, with percentages significantly higher than the other devices available on the platform. During 2023, the models the most purchased were iPhone 12, 12 Mini, 11 and SE 2020. Furthermore, more and more often, those who choose to buy a new phone also purchase accessories directly on the site, including covers, protective glass and chargers. With further savings from all points of view.

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