PORT WASHINGTON, NEW YORK, AUGUST 5, 2013 – The awareness and momentum behind smartphone trade-ins is growing in the U.S. According to a new NPD Connected Intelligence report, Trade In, Trade Up, Trade Out, more than 60 percent of smartphone consumers are aware of their trade-in options for a new device and 55 percent of them plan to take advantage of it the next time they upgrade.
Currently, only 13 percent of smartphone owners say they traded in their last mobile device, but the growing awareness and trade-in options have the potential to shift carrier and retailers loyalty. Among smartphone consumers, 30 percent said they would switch carriers if a different carrier offered a better trade-in deal, and almost 62 percent said they are willing to go to a different retailer (but not necessarily switch carriers) for a better trade-in price.
“Trade-ins, in their many variations, are the new competitive battlefield for carriers, retailers and OEMs,” said Eddie Hold, vice president of Connected Intelligence. “Consumers are embracing these smartphone trade-in options and open to alternative models in return for a better trade-in value. This means that the consumer may not necessarily shop at the carrier store for their next device, but instead may look to big box retailers if the trade-in price is right.”
To get more insight from Eddie about what these trade-in programs mean for retailers and carriers read his latest blog.
Click here for more details of the Trade In, Trade Up, Trade Out innovation report.
Methodology
The Connected Intelligence report, Trade In, Trade Up, Trade Out, is based on a survey of 1,000 smartphone users. The survey was conducted in July 2013 via smartphones.
About Connected Intelligence
Connected Intelligence provides competitive intelligence and insight on the rapidly evolving consumer’s connected environment. The service focuses on the three core components of the connected market: the device, the broadband access that provides the connectivity and the content that drives consumer behavior. These three pillars of the connected ecosystem are analyzed through a comprehensive review of what is available, adopted, and consumed by the customer, as well as reviewing how the market will evolve over time and what the various vendors can do to best position themselves in this evolving market. For more information: http://www.connected-intelligence.com. Follow Connected Intelligence on Twitter: @npdci.
About The NPD Group, Inc.
The NPD Group provides global information and advisory services to drive better business decisions. By combining unique data assets with unmatched industry expertise, we help our clients track their markets, understand consumers, and drive profitable growth. Sectors covered include automotive, beauty, consumer electronics, entertainment, fashion, food / foodservice, home, luxury, mobile, office supplies, sports, technology, toys, and video games. For more information, visit www.npd.com and npdgroupblog.com. Follow us on Twitter: @npdtech and @npdgroup.
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