The economic slowdown has resulted in plummeting demand for new cell phones, tablets, and laptops. Conversely, price-sensitive consumers are increasingly opting to buy pre-owned devices to save money and are hanging on to their legacy devices for much longer.
The life cycle of devices has always been much longer within repair shops compared to wireless carrier stores, but with the resale market of devices now mirroring that of the automobile industry, these previous-generation devices are becoming a booming industry segment of their own. The global market for used smartphones is forecast to grow to 332.9 million units with a market value of $67 billion in 2023!
What does this mean for repair shops?
For one, repair shops that sell pre-owned devices will continue to see those sales increase. Additionally, with more previous-generation devices in circulation, there will be a greater need for their repairs. The Apple iPhone 8 and iPhone 8 Plus are the most commonly repaired and resold phone models. VoiceComm stocks the accessories you need to bring in added revenue on top of your repairs and sales, and our insight into the channel allows us to offer industry-specific resources like our Repair Top 10 List and Live Accessory Guide.