Apple’s Trade In program enables us to provide our old devices in exchange for a discount when buying a new one. A very interesting program which, in addition to ensuring correct recycling, facilitates the renewal of appliances. A program about which we now have a little more information.
A significant discount before renewal
Assurant, a consumer rights-focused company, released its annual report on Trade In. Programs, plural, as the company also analyzes similar programs from other companies and always within the United States. Even if Apple-specific program data has not been released the figures and conclusions are most interesting.
The report begins by evaluating the five most traded devices in 2021, which are, in order of highest to lowest: iPhone XR, iPhone 11, iPhone 8, iPhone 8 Plus, and iPhone X. The mere fact that this is the iPhone the ones with the most presence in the report already allow us feel how important the Apple program is in the numbers.
If we already go into the comparison with Android, where the Samsung Galaxy S9 is the most traded device during 2021, we find the most interesting figures. On average, the value of the iPhone trade-in was $199, while on Android it drops to $98. In any case, on average, a 13% increase in trade value was detected.
With these values, the total amount of money received from exchange programs by buyers amounts to 3,043 million dollars
Another interesting piece of information in this report is the age of the phones that are delivered for renewal. Over the past three years, the iPhone they have always been above average renewal, which means we renew our iPhones less often. On average, iPhones shipped in 2021 under Trade In programs were 3.35 years old, while the rest of the smartphones were 2.97 years old.
Figures that confirm what we all already know: that iPhones are devices that they resist well over time and that in addition they do so while maintaining an economic value important. An important advantage when it comes to obtaining the new models, either by reselling our old iPhone or by giving it away under this kind of program.
To wrap up the report, it ends with the Apple Watch trade-in value averages. A graph says more than a thousand words, no doubt, but among the most interesting data is the value retention capacity Apple Watch Series 1, 2 and 3, which barely dropped throughout the year.
Overall, we have a clearer picture of what Trade In programs represent when it comes to renewing our devices. Some programs, such as Apple’s, which they make the acquisition of new devices very attractive thanks to the discount represented by the delivery of our previous iPhone.
Picture | Jeremy Bezanger
