Capitalizing on the Wearable Turnover
While smartphones have traditionally led the way when it comes to connected devices , the rapid rise of hearables and wearables and their growing popularity amongst tech savvy consumers is widening the breadth of consumer connected devices. According to the International Data Corporation (IDC), in 2021 the wearables market grew 20 percent year over year with total shipments reaching 533 million units. With more hearable and wearable product options being introduced to the market at a variety of price points, retailers can offer customers more opportunities to upgrade to the next generation of smart watches, fitness trackers, earbuds, etc. It’s a great time to begin cultivating the secondary device ecosystem for these devices, using the thriving trade-in market for smartphones as the blueprint for capturing the latent value in pre-owned products while providing incentives for customers to upgrade to new devices. ...