New data from GfK shows that UK refurbished phone sales in 2023 were up 32% from the year before
In November last year, we mentioned that the popularity of refurbished phones was continuing to grow year after year. During the Black Friday weekend of 2022, the UK saw an all-time high in Google searches for the term ‘refurbished,’ and it was clear that November 2023 was set to surpass that record.
As anticipated, the trend continued upward. Below is a chart illustrating the Google search traffic for the phrase ‘Refurbished Phones’:
What we didn’t know, however, was that refurbished phones had grown in popularity to such an extent that an entire QUARTER of phone sales in 2023 were for refurbs! According to a new survey collected by GfK.com, 25% of respondents who had bought a new phone in 2023 had said that they had bought a refurbished phone – up from 19% in 2021.
Why are So Many People Buying Refurbished?
According to GfK spokesperson Lizzie Bailey, the biggest reason that people are buying refurbished phones is cost. Here’s what she had to say:
“With a cost of living crisis, new mobile phone buying patterns are emerging. In 2022 we reported that smartphone contracts were seeing a comeback as subscribers committed to longer terms to manage rising prices and lock in the best tariffs. Now we’re tracking rising demand for used handsets, whether refurbished as a way of upgrading to a superior model for less or picking second-hand devices to keep costs down.”
The data confirms this trend: only 9% of respondents cited environmental concerns as their primary reason for choosing a refurbished phone. Interestingly, among those who did mention environmental factors, the majority were in the Under-35 age group.
Where Can I Buy a Refurbished Phone?
You can purchase a refurbished phone directly from us here at The Big Phone Store. We offer a wide selection of refurbished devices at competitive prices, with options ranging from the latest models to older, more budget-friendly choices. Each phone is carefully tested and graded, ensuring you receive a device that meets your needs and expectations.
Plus, The Big Phone Store provides warranties on our refurbished devices, giving you added peace of mind with your purchase!
Who Is Buying Refurbished Phones
According to GfK, buyers of refurbished phones “tend to be affluent, and younger and shop online at specialist retailers who offer warranties”. From my experience working at The Big Phone Store, that information comes at no surprise at all!
I think people are realising that buying refurbished doesn’t have to mean people on a low income buying an old, cheap phone. Instead, it can mean being able to afford the very latest (and most expensive) technology, without paying full price!
In Bailey’s words, “Consumers will pay more for advanced features. But if the innovation leap is not far enough, they will wait for something truly new before buying their next device.“
“Now we’re tracking rising demand for […] refurbished as a way of upgrading to a superior model for less,” Bailey says.
What Will the Refurbished Phone Market Look Like in the Future?
In regards to the future of the refurbished phone market, CEO and Founder of The Big Phone Store Steve Athwal had this to say:
“When I think of where the refurbished smartphone industry is headed, I can’t help but be reminded of how we buy cars. Most people can’t afford to buy a brand-new car straight from the manufacturer, so it’s become second-nature for most people to buy a car that once had a previous owner, and honestly I think that eventually, the smartphone industry will look the same. Especially as new phones keep getting more and more expensive – have you seen how much these new foldable phones cost?!”
According to Steven, the biggest reason people give for NOT buying a refurbished smartphone is the fear of the unknown.
“At the moment, refurbs have this stigma around them where people think – urgh, I don’t want a second-hand phone. I think that’s mostly because buying refurbished hasn’t become normal for most people yet.”
“However, as more and more people have been buying refurbished phones in recent years, that uncertainty and fear is going away. And the more that people realise that refurbished phone sellers can be trustworthy and dependable, the faster that change will happen.”
