Why 70% of Americans Don’t Resell Their Smartphones: Insights on Consumer Behavior and Resale Values
- During the holiday season, many Americans consider buying new smartphones.
- This survey involved 2,400 US smartphone owners above 18 years old and suggests that consumers may be losing out on money by not considering resale.
- Despite the opportunity to earn from old phones, the survey found that nearly 70% of owners have never sold one.
Key Takeaways
Table of Contents
- Selling Old Phones: Nearly 70% of American smartphone owners have never sold a phone they no longer need.
- Resale Value Consideration: More than three in four (77%) US smartphone owners did not consider resale value when purchasing their device.
- Confidence in Resale Value: Approximately 18% of smartphone owners lack confidence in the resale value of their devices.
Resale Value Considerations
During the holiday season, many Americans consider buying new smartphones. However, one important factor that often gets overlooked is the potential resale value of their old devices. A recent CNET survey, conducted with YouGov, indicates that resale value holds little weight in purchase decisions, with 77% of participants not finding it influential. Only 23% valued resale when buying a phone.
This survey involved 2,400 US smartphone owners above 18 years old and suggests that consumers may be losing out on money by not considering resale. The refurbished and used smartphone market is growing significantly, projected to rise from $8.67 billion in 2023 to $26.67 billion by 2031.
Reasons for Keeping Old Smartphones
Despite the opportunity to earn from old phones, the survey found that nearly 70% of owners have never sold one. Common reasons include:
- Effort vs. Reward: 33% feel that the resale price isn’t worth the effort.
- Privacy Concerns: 31% worry about their private data remaining on the device.
- Data Removal: 26% are anxious about completely erasing their data before selling.
Selling unused smartphones is important for reducing electronic waste. A UN report stated that 62 million metric tons of mobile devices were disposed of in 2024 alone.
Consumer Confidence in Resale Value
Confidence in resale value significantly impacts selling decisions. About 18% of smartphone owners are unsure about their devices’ resale value. Notably, LG smartphone owners expressed the highest confidence (49%), surpassing Apple (42%), Samsung (34%), and Motorola (32%).
Younger generations, including Gen Z and millennials, show greater confidence in resale values than older generations. For instance:
- 47% of Gen Z are confident.
- 43% of millennials feel the same.
- Confidence drops to 34% for Gen X and only 23% for boomers, with 50% of Gen X and 59% of boomers having never considered resale value.
Overall, factors such as the perceived effort versus reward and privacy concerns prevent most smartphone owners from selling their old devices, influencing their current smartphone purchase decisions.
Methodology
The YouGov survey sampled 2,518 adults, with 2,400 owning a smartphone. It was conducted online from November 4 to November 6, 2024, ensuring representation across US adults aged 18 and older.