Thrifty Gen Zers love used smartphones: Software innovations arent doing a lot for me
If it ain’t broke, don’t fix it.Gen Zers are taking their thrifting obsession to the next level, this time with their smartphones.The tech-savvy generation isn’t opting for brand-new iPhones — instead, they are settling for mint-condition refurbished ones for a fraction of the original sale price.“With incremental improvements between new smartphone versions, a growing share of consumers feel that refurbished options are better,” Glen Cardoza, a senior research analyst at Counterpoint, told Business Insider.“They do not mind using a cheaper refurbished model that has most of the recent features.”Anmol Aroz, 23, purchased an iPhone 13 Pro model secondhand just two years ago and told Insider that he saved $650.
The IT sales worker, based in England, said he isn’t impressed by the latest and greatest features on new smartphone models, like integrating AI, and lamented the value loss of personal devices.“The second you touch the wrapper, it’s £200 [$259.96] down the drain,” he said.“I’m pretty much set on sticking to the refurbished route.”For Amy Maty Conrad, 34, the cutting-edge features just aren’t appealing.
The Washington, DC, resident said she and her husband purchase refurbished smartphones, with her on her second device, a Samsung Galaxy S21.“I mostly use my phone for calls, email, work, and a camera,” the avid secondhand shopper told Insider.“A lot of the other software innovations aren’t doing a lot for me.” Sales of the new iPhone 16 disappointed after its launch last month despite the cutting-edge capabilities, according to CNN.
Apple analyst Ming-Chi Kuo told Insider that pre-sales of the next-gen iPhone slumped an estimated 13% compared to the first weekend of sales for the iPhone 15.The refurbished phone market, however, has grown, Insider reported.From 2021 to 2022, it increased 5%, according to Counterpoint Research data, and Apple comprised half of the of the resale market.
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