Device Repair Industry Watch: Must-See Stats from Compass Intelligence

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Recommerce. You’ve likely heard the term. But what does it mean? And what can it mean for your device repair business?

Recommerce is essentially the buying and selling of used devices. This can mean smartphones, cellphones, computers, tablets, phablets, game consoles, and other consumer electronics. In the United States alone, the recommerce market is expected to grow to over $14 billion within the next two years. Right now, there are over 370 million devices waiting to be traded in.

Increased Demand for Devices Means Increased Potential for Profits

What does this mean for your device repair business? Increased profits. Device repair businesses are perfectly poised to profit from growing demand for consumer electronics — and from the recycling of those electronics.

Consider the facts, courtesy of Compass Intelligence:

–Right now, there are over 330 million mobile device subscribers in the United States.

–In 2014 alone, the Consumer Electronics Association estimates that smartphone device shipments were over 169 million.

–During that same year, an estimated 80 million tablets were shipped to market.

Your clients are buying more devices more frequently. This means they’re holding onto their old devices. Indeed, only about 28% of consumers have ever recycled an old phone or mobile device. If you can educate these potential clients on the importance of trading in their used devices, you stand to increase your overall profits by 10, 15, or even 20 percent.

Stay Ahead of the Trend with Compass Intelligence

Success in recommerce starts with knowledge. That’s why at Sourcely we believe an educated client is an empowered client.

There’s no better way to stay ahead of the latest trends than by reading the latest research. Interested in finding out more about how you can benefit from this lucrative and vibrant industry? Then download Compass Intelligence’s full 2015 Idle Device and Recycling Report. It provides an in-depth look at the state of the industry, offering projections into 2019 — and giving you an edge over the competition. And take a moment as well to check out the Bamboo Mobile blog for the latest news on device reuse and recycling, and to learn how you too can turn yesterday’s devices into today’s business opportunities. Contact Kate Pearce at kpearce@compassintelligence.com for more information.

Got questions for us? Then contact us today.

 

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Nima Jacob Nojoumi

Teen Entrepreneur. Former adviser @GoDaddy. Founder at House of Genius AZ @HofGAZ. Co-Founder & CEO @GetSourcely. Teamwork makes the dream work.