Trade to Save and Get the Latest Tech
Article submitted by David Nelson, Director of Mobile & Trade-In Services at TD SYNNEX, Europe
A recent global study estimates the global refurbished and used mobile phones market to reach around USD 146.43 billion by 2030, growing at a CAGR of roughly 11.45% between 2022 and 2030. The percentage could be higher but due to the cost-of-living crisis and increasing environmental concerns, people are typically holding onto their devices for longer. The second-hand market is buoyant, but some exchanges can drive prices too far down to make reuse unattractive.
We’ve seen an increased demand from channel partners and vendors looking to combine trade-in and trade-up services to get better deals on devices, discover growth opportunities, and re-engage with long standing customers.
So how to couple device recycling with trading-up?
Corporates and consumers can help reduce high costs of obtaining the latest device models by running inventory on existing devices, which could potentially be used for trade-ins and recycling programs. Apart from the devices that will be replaced in the trade-in, it’s worth investigating across departments to see if teams have any additional outdated or obsolete devices that can be recycled as additional revenue streams.
For example, we helped a partner secure a £500K subscription deal for new handsets to replace old devices. In addition, the partner was able to provide a reduced price by taking in and paying the customer for nearly 1,000 pre-loved phones. This helped the business to save on IT spend and answer the heavy demand for upgraded devices in sync with the evolving needs of employees.
Our device trade-in service, TD SYNNEX Renew, offers a streamlined process to ensure older devices are assessed for re-sale rapidly. TD SYNNEX Renew meets demand from the channel for a service that makes the process seamless and robust. It gives pre-loved gadgets that are left unused at home or in the office a second life, whilst simultaneously providing the latest technology to customers. The programme includes an online portal that resellers and retailers can use to provide a customer friendly device trade-in process.
As well as giving products a second life, by trading-in and -up, partners’ customers can reduce the cost of providing employees with the latest technology, which can make a significant difference for small businesses in particular.
These types of services help the channel to stimulate the circular economy. Last year, TD SYNNEX Renew’s mobile trade-in programme for partners saw 30% growth by the number of mobile devices traded in by either reusing or recycling them from their customers. This avoided an estimated 38,000 tonnes of CO2 and saved enough metals to produce the equivalent of 12 mid‑sized cars.
The scheme provides an exciting opportunity that will benefit the channel and the end-user, in line with TD SYNNEX’s commitment to addressing market needs and protecting the environment.
