July 26,2021

Is Pricing Still Number One For Consumer?

Warwick Massey

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Full Episode

Transcript

is pricing still number one by a considerable way, or are people actually going, you know what? It's not just the price. I'm, you know, I'm doing well in life. I've got some nice cash coming in. I could buy the new one if I want, but what I prefer to do is go and buy a refill up to one or even a secondhand one.For sure. Um, if I, if I look at what's important to consumers, trust is also a big one, right? So actually, when you look at the overall refurbished market, yes, you have those propositions, which are, I'm going to buy it. A used device second hand, let's say iPhone, and I just want the cheapest possible, uh, iPhone for my child. And that will be good enough. I don't care if it's scratch bumped, et cetera. Um, but actually the development of the refurbish market, uh, in recent years, certainly the past five to 10 years has moved much towards this consumer education piece. Um, so educating consumers that there is more than just refurbished or second, the secondary market is more than just a dirty old iPhone. Or that's the old laptop that's been, that's come out of somebody's draw or has been used. Now, if you look a lot of the, a lot of the, the big marketplaces in Europe and big retailers in Europe, what they're offering is a product that is as good as new and it comes with it. 20 30% discount on you. And so actually consumers are waking up and realizing, well, why wouldn't I buy a product that looks and works exactly like a new device?

Thanks,
George