2020 marked a year of change for most. Not only were organizations developing new ways to cope, but people too were learning to adapt to the new normal. In the process, new habits were cultivated. While online shopping was not a new phenomenon, the closing of retail outlets forced almost everyone to resort to shopping online.
For the mobile industry, this meant new device purchases and trade-ins were conducted online. But the shopping experience has changed too—as stores have re-opened, new processes have been put in place to ensure customer safety in the trade-in process, and over the last 18 months, contactless trade-ins have grown exponentially.
With the world returning to normalcy, will contactless trade-in programs continue to reign supreme over hands-on services? Or will visions of drop-off points and online trade-ins be a thing of the past?
The Changing Landscape of Mobile Trade-ins
Online trade-ins are not a new concept—even pre-pandemic, many operators, retailers, and OEMs offered online trade-ins as a service, but the popularity and awareness were low. Having this capability already operational enabled operators, retailers, and OEMs to adapt well during the height of the pandemic and continue to offer online trade-ins.
To further enhance the service, apps were launched with quick on-device sale services to make the process even more seamless and simple for customers. Some operators integrated these services into their existing apps, allowing customers to trade-in on an app they were already familiar with. By answering just a few questions customers were able to see how much their older device was worth, and shipping return labels with new purchases further simplified the process.
As stores reopened, contactless trade-ins were introduced to allow consumers to visit stores and trade-in their devices in a COVID-safe environment. With sufficient customer support and signposting along the way, operators, retailers, and OEMs have been able to capitalize on upgrades and trade-ins and build customer loyalty in a smart and safe way.
Overall, online and contactless trade-ins have the potential to make the whole trade-in process more efficient for consumers, as well as more cost-effective for operators, retailers, and OEMs and can be a lucrative option to capitalize on.
HYLA Mobile, an Assurant company, provides technology and services that enable its operator, OEM and retail customers to offer both online and in-store trade-in programs for its customers. HYLA is able to ensure its customers get the maximum ROI on their trade-in programs. If you’d like to know more about how we can support and deliver trade-in services for your business, get in touch today.