In the last weekMCE Systemsreleased a research study initiated byRobert Hacklof over 3,000 US consumers to reveal a massive and largely untapped opportunity in the mobile phone trade-in market.

Last year, only 1 out of 7 consumers who got a new phone traded in their old one. Though US consumers gained over $3 billion in value from trade-ins in 2021, the market could be 15 to 20 times higher if operators focused on the consumer needs this research identifies.

💡💡In addition to revealing data points, our report has actionable insights for mobile operators to get started.
Link: https://lnkd.in/ejK-rvxU💡💡

The Big Takeaways
For operators to succeed in trade-ins, they will have to answer 3 questions that consumers are asking:

✅ Why not commit to the price that is quoted with a credit on the next bill?
✅ Why not offer an app and a seamless user experience like Uber or others?
✅Why not deliver the execution speed consumers have come to expect from places like Amazon Prime?

The good news: all these challenges can be solved with MCE Systems technology, which early adopters in several countries have already begun to implement – we call it Trade-In 2.0.

But don’t just take our word for it – we asked consumers about Trade-in 2.0 as a concept in the study. The response was overwhelming: implementing Trade-in 2.0 increases the likelihood of trade-in by 75%.More than 1/3 of respondents were much more likely to trade based on its features. These numbers were also very consistent across the global survey.

Trade-in 2.0 will also significantly increase the market volume of trade-ins, which contributes to reducing carbon emissions – every 1 million devices that are reused avoids 48k metric tons to the CO2 footprint. The UK market, with Vodafone leading the pack, shows what’s possible in a short time frame:a reduction in the mix of “Never traders” from 88% in 2020 to 49% in 2022.

Clearly, consumers (and our environment) are ready for Trade-in 2.0.Are you? Will you lead or follow?