As consumers continue to hold onto their devices for longer periods of time, it’s more important than ever to build out a comprehensive data analytics program. But if you’ve been running a mobile device trade-in program for years, you already know how data can help you grow your program.
Carriers and mobile device retailers aren’t immune to general trends in consumer behavior and customer experience. Like in any other industry, the mobile device industry has to embrace an increasingly digital buyer’s journey. What used to be exclusively a brick-and-mortar process has evolved into an omnichannel experience that spans desktop websites, apps, mobile sites, and more.
Now that equipment installment plans (EIPs) have become the predominant way for consumers to buy new mobile devices, consumers are holding on to their devices much longer. As a result, analytics play an ever-increasing role in understanding how to entice trade-ins and price them when they come in to maximize the value of both the device and customer relationship.
In the mobile and telecoms industry, February is dedicated to one thing—Mobile World Congress (MWC). As the world’s largest event for the mobile industry, attracting over 100,000 attendees and more than 2,300 exhibitors, MWC is an event that simply cannot be missed.
For nearly a decade, Big Box Retailers like Best Buy and Walmart have been aggressively pursuing mobile phone sales. At this point, smartphones make up a significant portion of revenue.
It seems like everyone has had "that" friend at some point in their lives. The one who stretches the limits of a “friends and family” discount at their place of work.
We might think this is harmless enough—after all, will a company really notice such a minor exception to the rule?
But no matter how you look at it, this is a form of fraud.
With consumers trading-in their mobile devices more frequently when they purchase new ones, wireless carriers, retailers and OEMs have taken notice and started to include the sale of pre-owned devices in their promotional efforts.
For customers to qualify for some of the best deals for new devices, they must know how to trade-in their old devices.
The Internet of Things (IoT) ecosystem of devices, both new and refurbished, has enabled communities, business and consumers to digitally integrate all aspects of their life and work functions.
When the Apple Watch was rolled out in April 2015, it seemed almost everyone had to own one.
It quickly became, at the time, the best-selling wearable device and earned rave reviews for its appeal as a fashion accessory.
More than a year later, sales have slipped but demand remains steady, drumming up anticipation that Apple will unveil a new version of the watch.
Soon, the original Apple Watch will be the “old” version and consumers will look to upgrade and get value for the first model.
A mobile device trade-in program isn’t a mysterious operation that should be analyzed with guesswork or even trepidation. Such a program can indeed be scrutinized like any other transactional business process.
Surely, your business has all the angles down when reviewing other types of store sales, expenses, employee performance and other key performance indicators (KPI).