CES 2020: Consumer Trade-In Trends
CES 2020, the biggest consumer electronics show in the world, took place on January 7-10 in Las Vegas, Nevada. This year, the Phobio team met with industry leaders, mobile carriers, and retailers that share our vision for elevating the customer experience and transforming the future of device trade-ins. We’re excited to announce new partnerships in the near future!
CES is known for unveiling the latest and greatest consumer technologies, innovations, and trends. A major trend we noticed was the shift toward a unified mobile device solution. Modern consumers are less concerned in device ownership and are more interested in making smaller monthly payments toward a service. For example, the majority of smartphone users today would prefer to finance a smartphone and make one inclusive payment per month that goes toward the total price of the mobile device as well as the device insurance and the data/voice plan.
This type of unified solution makes it even easier for consumers to get their hands on a brand new device without paying a lump sum upwards of $1,000. If consumers trade-in their device through the Phobio platform, they can lower their monthly payments even more. Phobio provides the most competitive and transparent device pricing in the industry. It all starts with our simple, two-condition grading benchmark which classifies devices as either working or damaged. A monetary value is then provided to customers along with a detailed description and photo evidence explaining our assessment of the device.
Now more than ever, consumers are turning to trade-in solutions to help them upgrade to the latest technology. As an omni-channel platform, Phobio guarantees an easy device buyback experience from start to finish by providing customers with the flexibility to start their transaction in one channel and complete it in another. For example, a customer can begin their trade in-store, then go back home to back up their photos, music, and contacts, and finish the trade-in process online by either arranging a courier to pick up their device or dropping it in a mailbox. Customers can also begin a trade-in online and then drop off their device in-person at their local retail store.
We look forward to revolutionizing the way consumers and businesses upgrade to the latest technology in 2020. Interested in learning more? Contact us here.