As a mobile repair store owner, you need to keep a close watch on your profit margins and ensure you aren’t on the wrong side of the balance! There is also the issue of competition — it is not uncommon to find multiple mobile repair stores on the same street!
When it comes to the customers, buying a whole new phone in the event of damages or loss can be an expensive affair! They would be looking for the closest alternatives which don’t prove too heavy on their pockets, aren’t low on quality, and can be used as functioning replacement phones.
One way to balance both, the cost and the quality being offered, is to sell refurbished phones, or phones with refurbished parts. Let us first understand what refurbished parts actually refer to!
What Are Refurbished Parts?
Refurbished parts simply mean renovated, reconditioned, or refined parts. These parts are usually preowned, and returned to the manufacturer owing to some defect.
These parts are then rigorously tested and repaired, and in some cases, may even go through a certification process. These new parts are then sold as ‘refurbished parts’.
Why Are Refurbished Phones Becoming So Popular?
The refurbished phone market has been growing for several years owing to how affordable they are, and also how they can contribute to reducing electronic waster. Who wouldn’t want to buy something that saves them thousands of dollars?
However, consumers seem to have become a little more price conscious recently due to a considerable rise in higher priced phones. According to studies, regarding the current state of the smartphone industry, the rising cost of high-end phones is one of the glaring reasons why people are increasingly veering towards refurbished phones.
Brand new phones like the iPhone X cost more than many other tech devices, and cause people to try and save as much money as possible to purchase them. Although they might eventually opt for the pricier phone, they may want a cheaper replacement phone in the interim.
In some cases, shoppers are choosing to skip buying brand new phones altogether, opting for refurbished models of existing handsets.
According to data from technology market analysis firm Canalys, smartphone shipments in Europe were down 7% year-on-year during Q1 2018. One of the major reasons for this is the lack of innovation from smartphone makers.
Additionally, there’s also a “saturation” of the phone market and the features that are appealing to consumers that’s leading to this decline in new phone sales and an increase in refurbished sales.
Essentially, the upgraded features of phones like the iPhone X aren’t enough to justify the purchase price. Many people are turning to older smartphone models instead. Apple has been making quality smartphones with features such as virtual assistant Siri, Touch ID, 3D Touch being present on older models.
Not only are the older models (with these features) cheaper in general but buying a refurbished handset (such as a refurbished iPhone 7) offers an additional cost saving, making them an ideal purchase for those buying a quality smartphone on a budget.
Why You Should Consider Selling Refurbished Phones?
As mentioned above, the demand for refurbished phones is on the rise, and mobile repair store owners can only benefit from selling them!
1. It Is Good For Business:
Customers may not always be in a position to buy a brand new phone, if theirs gets robbed or damaged. They may opt for a cheaper alternative as a replacement phone. Refurbished phones can be sold at a discounted rate. While there may be some differences in quality when it comes to such phones, it can be an incredible way to earn some money on the side.
2. It Is Good For The Environment:
Landfills are loaded with tons of discarded cellphones and other electronics. Not only is this bad from a perspective of increasing the amount of trash, but some components in those phones may contain chemicals that are toxic when they degrade. Chemicals like beryllium, cadmium, and mercury can pollute the environment.
Selling refurbished means fewer phones ending up in the garbage and a healthier environment.
TechRepair Offers A Buyback Program For Your Broken LCDs!
One of the parts most susceptible to being damaged is the LCD. Instead of disposing off the broken LCDs left after repairing the phone, you can sell the broken or unwanted screens to us, at TechRepair. All the screens are rigorously tested, to verify if the LCD and Digitizer are in working condition.
To know more about the program, head here!
Additionally, we offer the highest quality repair parts, that are meticulously tested and certified!
Given the customers’ preference for refurbished phones over the pricey original ones, it’s time for you to start selling refurbished phones and give your profits a boost!