A recent market analysis by UNDRESS Circularity reveals that 20% of consumers already own a second-hand electronic device. As sustainability gains importance, the demand for refurbished technology continues to rise. Despite its growth potential, second-hand technology is not yet widely accepted. Price, warranty, and repairability remain the top purchasing criteria, with 83% of consumers prioritizing price, 78% warranty, and 67% repairability. Additionally, 51% of consumers still perceive new devices as the safer option, while 21% worry about limited warranties—despite many refurbished sellers now offering extended guarantees.
Key drivers behind used purchases
Cost savings (62%), sustainability (44%), and the realization that the latest model is not always necessary (41%) are the main reasons consumers opt for used electronics. Notably, second-hand devices are used just as long as new ones, with smartphones averaging 3.6 years of usage.
Changing consumer behavior and market impact
The availability of used products influences purchasing habits, with 42% of consumers buying more frequently and 23% owning more devices as a result. This shift presents new opportunities for businesses.
How businesses can leverage this trend
Offering longer warranties can significantly increase consumer trust in used products. Improved communication on warranty and service conditions, such as repair insurance, can help overcome misconceptions. Companies with strong circularity strategies can position themselves as market leaders.
A deeper market analysis coming soon
The UNDRESS market report, set for release on April 29, 2025, will provide further insights into consumer trends, market opportunities, and the sustainability of circular business models.
Market
Trade-in
Repair
Refurbishing
