5G is now a commercial reality in many countries around the world. We are also at a global tipping point – the number of 5G devices being purchased and activated is set to accelerate dramatically. Ericsson predicted that 13 million 5G devices would have been shipped by the end of 2019 – and will increase to a staggering 160 million units by the end of 2020.

It’s difficult to understand how many smartphones are purchased online versus how many are purchased in brick-and-mortar stores. However, it’s easy to infer based on two other statistics. First, global demand for smartphones is slowing, and secondly, retail and electronics sales have also shown a sharp decline as of October 2019.

Over the last couple of years, CES has been a central hub for all-things 5G. The hype has been building for years and as we approach CES 2020, you can be sure that there will be no shortage of 5G news once again.

The holiday season truly is the most wonderful time of the year for the mobile device industry. During the holiday shopping season, consumers are more likely to upgrade to the latest smartphone models—and carriers, OEMs, and retailers are right there with creative promotions to make it easier.

The cost of a flagship mobile device is creeping slowly upwards. First, phone contracts changed – the apparent price of a flagship phone went from $200 USD to around $600. Then, people started hanging on to their new phones for longer – demand went down. On average, people used to get a new phone every 2 years or so, but the average jumped to 3.04 years this past quarter and will continue to rise. 

We spend a lot of time talking about how to optimize the performance of mobile device trade-in programs. For the most part, these conversations come down to two sides—the backend operations and the customer experience. Having the technology to support a trade-in program is a great first step. Next, you have to find ways to generate the most value from device trade-ins.

Way back in 1963, Andy Williams released his song “It’s the Most Wonderful Time of the Year” on a Christmas album. And undeniably, the vast majority of people connect this phrase to the holiday season. But for mobile device carriers and retailers, the most wonderful time of the year starts a few months earlier.

When it comes to in-store customer experiences, carriers and retailers are often most concerned with what’s on the surface. Over 75% of companies say they lose customers due to issues with wait times.

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.