May 22, 2018
The Importance of an Omni-Channel Trade-in Experience
trade-in program with a retailer

Smartphone trade-ins come in all shapes and sizes. Most of the time, a damaged device or upgrade eligibility will determine the customer’s urgency to pursue their trade-in options in-store or online. To elevate the customer journey, delivering an omni-channel trade-in experience is critical.

When trading in a device, we have found that a majority of customers start their transaction in one channel and complete it in another. For example, customers who begin a trade in-store often realize mid-process that backing up photos, music, documents, and contacts can take up to several hours to complete. In this scenario, although customers started their trade in-store, they usually end up taking their devices home to back up files and then finish the trade-in process online, either arranging a courier to pick up their device or dropping it in the mailbox. On the other hand, some customers prefer to begin a trade online and then choose to drop off their device in-person at their local retail store.

Synchronizing the physical and digital worlds provide customers with a seamless, multi-channel experience that online retailers simply cannot match. Omni-channel capabilities drive the engagement of core shoppers with retail brands and ultimately draw them to the physical store. The ability to engage online and in-store not only increases customer satisfaction, but also increases spending power. Our reports have found that 73 percent of consumers use multiple channels during their shopping journey, which increases retail spending by four percent. As omni-channel shopping changes the role of retail, 56 percent of store locations will become hubs for omni-channel fulfillment by 2020.

The Benefits of the Omni-Channel Trade-In Model

Omni-channel trade-in platforms not only benefit consumers, they also differentiate retailers, disrupt the status quo, and benefit store associates by transforming device buyback into a quick and easy process. As trade-ins put more money back into customers’ wallets, they are uniquely positioned to purchase newer device models and buy additional accessories in-store. This empowers sales teams to effectively push product promotions, integrate trade-ins into new or existing buy-flows, sell more of the latest technology, and better assist customers.

A channel-agnostic trade-in tool enables retailers to offer exceptional service faster and more efficiently than ever before. More than 4,500 retail locations currently use the flexible, omni-channel platform SafeTrade to revolutionize the way consumers and businesses upgrade to the latest technology. SafeTrade allows customers to seamlessly upgrade in-store, online, or begin a trade in one channel and complete it in another.

Best of all, SafeTrade guarantees the most competitive, transparent device pricing in the industry. To put an end to device value disparity, it provides a simple, two-condition grading benchmark which classifies devices as either working or damaged. With SafeTrade, businesses seeking to trade-in or replace in bulk can do so through the portal and then coordinate with local stores for device drop-off.

Our SafeTrade service enables retailers to turn device trade-in data into actionable insights with industry-leading reporting and analytics tools. Far more than a buyback tool, SafeTrade features device processing, resell and experience management services, as well as courier, tracking, inspection, recycling, and CRM services. Did we mention SafeTrade offers 24/7 support, training, and customer retention services?

Here at Phobio, we understand just how important it is for retailers to provide a positive customer experience while leveraging technology to disrupt the status quo. With intuitive consumer-facing tools, SafeTrade ensures a seamless trade-in process online or in-store.