The refurbished phone market in the UK is growing faster than most people think. 1 in 4 phones purchased in 2023 were refurbished Source: GfK UK Consumer Confidence Barometer. By 2027, 40% of all phones bought in the UK will be refurbished Prediction: CCS Insight. Back Market’s founder, Thibaud Hug de Larauze, stated Years ago, only 10% of cars were bought used. Today, around 75% are used. He describes it as a potential “massive shift” towards consumers choosing refurbished first. The trend is clear: value for money, lower environmental impact, and strong supply are pushing refurbished into the mainstream. Where do you think the UK refurbished phone market will be in 5–10 years? 🔘 50% of all phones purchased will be refurbished 🔘 60%- 70% will be refurbished 🔘 Similar to the used car market: 70–75% refurbished 🔘 Under 40% — growth slows
My research is consistently below the GfK number. This year the results came in at 15.4% of consumers selected a refurbished device down slightly from 15.8% last year. Add in the unorganised market (gifts, pass alongs) and it rises to 18.6% total. Plenty more room for growth! On the upper limit, I'd suggest a 40% - 55% range is sustainable. Much more than that and we'll run into supply side constraints. At an expected lifecycle of about 3.7 years, 27% of customers are replacing their phones annually which puts a brake on supply. Importing would help, right to repair will help but I don't think we will see car market type numbers. Lots of related articles published on my site.
Umer Fareed 3w
Completely agree, the market fundamentals all point in one direction. Better pricing, longer device lifecycles, and higher refurbishment standards are accelerating this shift. If the industry keeps investing in transparency and consistent quality, 60–70% penetration within 5–10 years feels realistic.
Ira Gross 3w
And now there is plenty of great, accurate data out there to ensure that those refurbed devices will work as expected on their new carriers.
Sway YIN 3w
yes, this is indeed a very good industry.
Leigh Wilkes 3w
Thanks again for the hospitality on Friday
I don’t think people care that much about the environmental side of buying used phones. In this economy purchasing a brand new phone is costing a fortune, so people look for alternatives. Although I think there is room for growth in the used phone market, it will be a matter of time before brands like Apple play in on the “affordable” phone market by releasing cheaper models like we saw with the SE series.