The secret is out: The refurbished mobile device market, was predicted to grow to a $14 billion dollar industry by 2017, and here in 2018 we anticipate continued success.
As small business owners, franchises, and big box stores alike scramble to grab their piece of this revenue, our expert team at HYLA Mobile is watching the buying and selling frenzy all play out on our analytics dashboard.
Our automated, predictive analytics are not only fun for us to watch, but far more importantly, they are working to guide our partners to make the best decisions in an increasingly crowded market. (Note: predictive analytics are data points that refer to the future likelihood of, for example, a person’s willingness to spend at a specific time and price on a specific device).
Full Service Solutions
At HYLA Mobile, we’re proud to be in the business of providing full-service mobile lifecycle market solutions for our partners. To this end we consistently deliver:
- Insightful analytics
- Omni-channel device collection
- Turnkey device trade-in programs
- Processing and liquidation for pre-owned devices
- Device insurance solutions
We think all of these services are pretty good, but we like to take things a step further. Our aim is to help our partners boost revenue. And we know that can be done by optimizing opportunities on both the buy side and sell side of the refurbished mobile device market.
As we will learn in this post, both sides are equally essential in their own right. And we provide expert support to ensure that you and your team are positioned to leverage the best assets of each.
To begin, let’s quickly define what we mean when we talk about the buy side vs. the sell side. Understanding how these two functions operate independently while also complementing one another will bring us closer to helping you reach your goal and higher returns on your investment.
What is the Buy Side of the Mobile Device Lifecycle?
As its name suggests, the buy side of things has to do with buying goods. In this instance, those goods are obviously pre-owned mobile devices.
We prefer to pursue the act of buying with purchasing power -- smart, thoughtful, and data-driven decision-making.
Our partners are armed with competitive market insights plus industry timing and tech trends that lets them know what the market is offering for pre-owned devices to help them set a trade-in price based on their competitive strategy.
At HYLA Mobile, a half a million TIVs are benchmarked on a daily basis. Our collated data spans the competitive marketplace identifying trends and fluctuations that help buyers know when to make changes to fit their business objectives.
Because we believe in quick and efficient decision-making, our real-time, filterable and fully-customizable catalogue contains over 10,000 devices with assigned ratings grades (new, excellent, fair, poor).
When it comes to knowing TIVs, we don’t believe in guesswork, and neither should you.
What is the Sell Side of the Mobile Device Lifecycle?
No surprises here, the sell side of the market is all about selling. We understand selling to be about generating the most possible revenue for a given product and situation.
Again, based on data-driven analytics, our partners have a comprehensive view into secondary and refurbished mobile device value. Setting your pricing too high or too low could be potentially detrimental to your business. This is why we provide you with insights to help you pinpoint precise price points that convert to sales.
Our dashboard analyzes both the retail and wholesale market. For wholesale, we use predictive pricing that looks to the future, providing sellers with more information to help them alleviate risk. Our retail market dashboard allows users to visually compare pricing between new, pre-owned, and wholesale.
This is especially useful as sellers benchmark wholesale vs. retail pricing, so data-driven decisions can be made on maximizing revenue.
Understanding How Buy and Sell Sides Work Together
While it’s important to dedicate time to tracking opportunities on buy side TIVs and the sell side, understand that only together do these tactics function for optimal success.
Our model provides our partners with a full suite of analytic resources built to effectively boost your bottom line. Our platform helps grant our partners the ability to:
- Filter data by competitor, price point, device type, and device condition
- Gain insight into optimal trade-in values
- Access immediately relevant market and industry trends
- Reduce risk by knowing where the market is today and where it is predicted to go in the future
- Pricing awareness for the entire lifecycle of a mobile device
Backed by quality data insights, our partners have a thorough understanding of real-time pricing and are prepared to enter buying and selling situations with confidence. After all, what isn’t measured can’t be improved upon or appropriately managed. Thus, we are in the business of measurement and data-analysis.
Learn from the expert team at HYLA and discover tactics to make the most optimal buying and selling decisions. And to learn more, download our white paper: Reduce Risk and Increase Revenue Through Analytic Insights.