Smartphone trade-in trends 2022

Trade-in programs are a win-win option for both buyer and seller. That is why in recent years, an increasing number of people tend to exchange their old devices in exchange for various profitable offers, instead of just leaving them gathering dust in the closet or throwing them away. We have analyzed the smartphone trade-in market and collected the main trends of 2022 for you.

1. Onward and upward

In June 2022, IDC conducted a smartphone consumer survey of 2,118 Americans. The main goal was to identify the current exchange trends in the US consumer smartphone market. US$767 million, is the only amount that Americans received for their old devices submitted to the trade-in programs in the second quarter of 2022. This is 34% more compared to 2021.

According to Anthony Scarsella, research director for IDC’s Mobile Phone, trade-in programs are a key driver of purchasing power in the US. About a half of Americans sell their old smartphone before buying a new one. “Overall, 31% utilize trade-in programs, while 25% still store their old device as a backup”.

Along with the general market expansion, in the second quarter of 2022 there is an increase in the average device trade in value. It reached $137 in comparison to $123 in the first quarter.

2. 5G rules the show

The recent Assurant study reported a continued growing uptake of 5G smartphones, emphasizing the important role of trade-in programs in building a sustainable circular economy. It is expected that by the end of 2022, 725 million 5G smartphones will be sold worldwide. This is a big increase from last year, when 525 million units were sold.

3. The pandemic palm of wholesalers

The wholesale secondary smartphone market outperformed the market of new phones during the COVID time. The pandemic crisis forced a lot of manufacturers and suppliers to stop or limit their work. Despite these restrictions, the situation recovered in a short time.

Will Stofega, program director at IDC, noticed that the used phone industry has not been significantly affected by the pandemic, unlike the new device market. IDC forecasts that shipments of used phones will rise to 351.6 million units by 2024.

4. Phone shipments uncertainty

The post pandemic smartphone shortage bounded the amount of shipments and the growth that could be achieved during 2021–2022, according to Canalys. The dynamic was positive despite the situation in Q4 2021 but worsened again with the beginning of 2022. At the moment we see that global shipments of new smartphones are increasing again which is a good sign for the used phone industry as trade-ins are an integral part of the new devices turnover. The markets for new and used smartphones are interconnected and cannot be considered separately from each other.

5. Apple breaks the competition

Speaking about the ratio of brands in the new smartphone market, the graph below shows the undisputed leadership of Apple among others. In terms of trade-in programs, the situation is exactly the same. According to statistics, people are more likely to sell or exchange their iPhones than other devices. Thus, whether you are engaged in buyback or trade-in activities, take into account consumer sentiment in order to always be in demand on the market.

NSYS Buyback

NSYS Group offers you multi-channel device trade-in with NSYS Buyback. 3 products are designed specifically for companies working with smartphones buyback and trade-in.

• NSYS Buyback online helps you to get requests through your own website
• NSYS Buyback in-store allows to improve your in-store trade-in business
• NSYS Buyback app is your own, branded, ready to use app

Do away with Excel spreadsheets. With NSYS Buyback, managers no longer need to waste time with multiple apps. All processed device data is stored for you in the cloud.

Easy management of chain stores or warehouses. Define and manage the rights and roles of every team member. Ensure each user has appropriate access to the software

Tailor‑made to suit your business needs. NSYS Buyback system supports customizable operational workflow. Evaluate devices the way you need.

Automate your mobile business with NSYS!