Over a third (36%) of UK consumers are likely to buy second-hand technology as part of their Black Friday and Christmas shopping this year, according to new research by retailer Currys.
The study also found that a ‘refurbished revolution’ in consumer tech is seeing shoppers more likely to buy second-hand tech (32%) than they are clothes (19%).
Environmental concerns appear to be a key driver behind this boom, with 75% of respondents saying they were worried about the amount of e-waste Britain produces.
The UK generates the second-highest amount of electronic waste per capita in the world, with half a billion electronic items going to landfill each year. Over a quarter (29%) of survey respondents said that they would be more likely to buy refurbished rather than new devices if it helped them reduce their environmental footprint.
Currys’ research also suggests that deal-savvy consumers and an increasing trust in refurbished retailers are both accelerating this boom, with half of respondents (47%) saying that buying refurbished tech appeals to them as it helps them to save money. A third (34%) suggested that being able to buy from a well-known retailer.
Digging deeper into the data, the ‘refurbished revolution’ appears to be led by younger generations, with 67% of 18–24 year-olds more likely to buy refurbished tech this year compared to this time last year.
Whilst environmental concerns are very real for this age group – four in five (83%) said that they were concerned by the e-waste crisis; one in three (31%) want to actively reduce their environmental footprint – refurbished tech also appeals to them when it can be bought with flexible credit options. A quarter (24%) said they would be more likely to buy a refurbished item if it could be purchased with flexible payment options like interest-free credit, compared to the all-ages average of 10%.
Steve Pendleton, services director, Currys, said: “We know that our customers are buying into the refurbished revolution for two main reasons: a desire to be more environmentally mindful – buying a refurbished product means that a valuable device remains in use, rather than being left unused, discarded or recycled – and amazing value for money, with top of the range devices available at a cut-price cost. We’re incredibly proud to support our customers on both of these fronts, thanks to our team in Newark who repair, refurbish and re-sell a whole host of previously unwanted tech at amazing prices.
“Then, there’s the fact that we now sell refurbished devices right alongside new items. That means customers can trust in the same great brands they always have done, have peace of mind thanks to our one-year guarantee and take advantage of the same flexible payment options that are available when you buy any other new product with Currys. Three incredibly compelling reasons to buy refurbed.”
Our editor carefully curates a daily newsletter filled with up-to-date news, analysis and research, click here to subscribe to the FREE newsletter sent straight to your inbox and why not follow us on LinkedIn to receive the latest updates on our research and analysis.