{"id":143513,"date":"2024-07-12T12:00:05","date_gmt":"2024-07-12T12:00:05","guid":{"rendered":"https:\/\/www.rithum.com\/?p=143513"},"modified":"2024-11-14T02:43:19","modified_gmt":"2024-11-14T07:43:19","slug":"the-rise-of-the-refurbished-consumer-electronics-sector","status":"publish","type":"post","link":"https:\/\/old.rithum.com\/uk\/blog\/the-rise-of-the-refurbished-consumer-electronics-sector\/","title":{"rendered":"The Rise of the Refurbished Consumer Electronics Sector"},"content":{"rendered":"

Consumers are becoming more conscious of both their spending and the environmental impact of their purchases. As a result, refurbished devices are emerging as a preferred alternative to buying new. Smartphones currently lead the way for the refurbished consumer electronics industry. According to International Data Corporation<\/a>, global smartphone shipments increased 7.8% year over year to 289.4 million units in the first quarter of 2024. This is the third consecutive quarter of shipment growth, according to IDC.<\/p>\n

What does this mean for sellers? While refurbished smartphones are in demand, it is wise for brands to diversify their product offerings now, according to Back Market\u2019<\/a>s Torrin Balsollier, Head of Strategic Supply Initiatives.<\/p>\n

Back Market is a global marketplace selling refurbished electronics. In a recent webinar<\/a>, Balsollier spoke with Rithum\u2019s Nistaar Chandhok about the growing refurbished consumer electronics market and its impact on sellers. As demand for refurbished consumer electronics grows, it is important for sellers to consider expanding into new categories, such as laptops, tablets, cameras, and others.<\/p>\n

While Balsollier and Chandhok discussed refurbished electronics, it\u2019s important to note that overall, the consumer electronics market is also growing. According to Rithum data, sales in this category have grown 54% year over year (comparing EMEA GMV in January \u2013 April 2024 and January \u2013 April 2023 respectively).<\/p>\n

Refurbished electronics help promote sustainability<\/h2>\n

Balsollier noted that refurbished electronics help promote sustainability and are driving transformation in supply chains. About 25% of Back Market\u2019s customers cited sustainability as their main purchase driver, he said.<\/p>\n

About half the carbon emissions from the digital sector (the digital sector comprising up to 4% of total global emissions) come from the production of devices like smartphones, computers and other tech accessories, according to Back Market data<\/a>. Other statistics of note:<\/p>\n