Consumers switching to pre-owned phones for higher internet speed, Delhiites break screens most: Cashify survey

Higher internet speed is the top reason why Indians switch to pre-owned smartphones, reveals a new survey by Cashify. The fourth annual “User Behaviour study” for the pre-owned phone market by the company, reveals that high speed network connectivity (3G to 4G), support for gaming and mobile camera specs are the among the top reasons behind the switch. Nearly a fifth (19%) of the users upgrade their devices within the first year, and 44% within 1-2 years. The life span of mobile device ownership is continuously shortening.

Cashify - as a part of this year’s study - revealed the Truth Index for cities, measured by percentage of smartphone users who stated the actual condition of their devices most truthfully, while putting them up for sale online. Bangalore topped the index with a score of 36%, followed by Chennai at 28%. Delhi was the least truthful with a score of 23%. Among other insights unveiled by the study, a majority of Indians listed their smartphones for sale between 12 Noon and 1 PM in the day. 

Delhiites seemed to be breaking their smartphone screens the most, with 33% among all Indian metro cities. Bengaluru came in second with 21%, followed by Gurugram with 19%.

WATCH Zee Business TV LIVE Streaming Online

The study revealed that Mi is the top selling brand in the pre-owned market with a 27% share, Apple (16%) and Samsung (16%) leading the second position, followed by Motorola (12%). Among cities, Delhi (18%), Bangalore (13%), and Mumbai (12%) comprise the top 3 for sales of pre-owned smartphones. In a surprise entry, Gurugram (6%) is in the top 5, ahead of  metro cities such as Kolkata & Chennai. Satellite towns Faridabad and Ghaziabad have shown the fastest growth, taking top spots in the upcoming city category.

“Numerous launches, more brand options, new price points and the overall aspirational value of an upgrade, are some of the factors that led the second-hand smartphone industry to widen its turf during 2019-20. Be it selling or buying, a majority of Indian smartphone users have come to trust platforms and services such as ours to derive maximum value out of their pre-owned smartphones. The Recommerce industry has seen a definite surge in 2019-20, as more people are opening themselves up to selling and buying used devices,” Nakul Kumar, COO & Co-Founder, Cashify, said.

The study further revealed that Apple iPhones are most favoured by females as they have 29 percent women users, higher than other major brands while Samsung smartphones are mostly used by consumers within the age bracket of 25-34 years, as 63 percent users fall in this age group. The brand has seen 72 percent male users and 28 percent female users in the past year.