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    iPhone Trade-in Vs. Brand Retention

    Apple's Decline in Sales During Q1-Q2 2019 Visible as 15.2% Less Trade-In Savvy iPhones Owners Are Sticking With Apple, compared with CIRP's 2018 Activation Survey.

    Since October 2018, iPhone trade-in site BankMyCell has been collecting data on the new device people have during the valuation and trade-in of their old iPhone. The result is a vast dataset of 38,043 individuals, providing insight into consumers upgrade cycle patterns and Apple's brand loyalty during the online trade-in process.

    Key Stats: iPhone Trade-in Retention

    • 2019's trade-in savvy iPhones owners are -15.2% less loyal than CIRP's 2018 survey.
    • iPhone brand retention the lowest it has been since 2011, compared to various studies.
    • On average, 70.8% of iOS user's remained with Apple during an iPhone trade-in from Q4'18 to Q2'19.
    • Only 66.4% of iOS users trading in stayed with Apple during Q4 of 2018, following the release of the iPhone XR / XS range.
    • The iPhone XS was in the bottom four devices for same brand upgrades, only 65.3% of users currently used an iPhone.

    Key Stats: Apple VS Android

    • In June 2019, 18.08% of people trading in iPhones had a Samsung device, the highest figure recorded in our study.
    • 24.5% of individuals trading in iPhones during Q4 2018 had moved to a new brand; Samsung (13.8%), LG (8.2%) or Motorola (2.5%).
    • On average, 12.4% of iPhone users jumped ship to Samsung, and 6.4% to LG smartphones from Q4'18 to Q2'19.
    • 18.5% of people selling an iPhone XS had moved to Samsung - the most significant Apple to Samsung brand switch out of 16 phones.
    • 26.2% of individuals trading in their iPhone X moved to another brand compared to only 7.7% of Galaxy S9 users switched to an iPhone, leaving 92.3% predominantly on Android.

    Historic iPhone Upgrade Loyalty

    In March 2018, Consumer Intelligence Research Partners (CIRP) released data showing 86% of users with an iOS mobile operating platform remained loyal, using a sample size of 500 individuals.


    • 2019's trade-in savvy iPhones owners are -15.2% less faithful than CIRP's 2018 survey.
    • iPhone brand retention the lowest it has been since 2011, compared to various studies.

    What was interesting when benchmarking this data against ours, was the considerably lower -15.2% of trade-in savvy iPhone uses remained loyal in 2019, this data tied in well with the report of sales declining 17%. In addition, our online audience 62.4% millennials with a 60/40 gender split in favor of females, which may differ from CIRP; however, they did not mention demographics in their release.

    Monthly iPhone Trade-in Loyalty (2018 - 2019)

    Below we see the monthly brand retention of people trading in their iPhones over 9 months. This shows low retention during following the XS / XS Max / XR release, followed by a boost during Q1 and Q2 (typically Apple's highest quarterly revenue periods since 2007). We also see Apple's brand retention at iPhone trade-in drop down into the 60-70% band. The vast majority of this decline was due to people selling iPhones while using a new Samsung device.


    38,043 Individuals - iPhone trade-in / valuation data from 10/2018 - 06/2019:


    • On average, 70.8% of iOS user's remained with Apple during an iPhone trade-in from Q4'18 to Q2'19.
    • In June 2019, 18.08% of people trading in iPhones had a Samsung device, the highest figure recorded in our study.
    • On average, 12.4% of iPhone users jumped ship to Samsung, and 6.4% to LG smartphones from Q4'18 to Q2'19.
    • 14.9% went to other manufacturers, while 1.9% didn't know what brand their phone during Q4'18 to Q2'19.

    Quarterly iPhone Trade-in Loyalty (Q4 2018 – Q2 2019)

    Below we see the quarterly brand retention trend of people trading in their iPhones (Q4'18 – Q2‘19). This chart shows the gains and losses of iPhone users to other brands, grouping each manufacturer to visually observe quarterly movements.


    38,043 Individuals - iPhone trade-in / valuation data from Q4 2018 – Q2 2019:


    • Only 66.4% of iOS users trading in were loyal during Q4 of 2018 following the release of the XS XR range.
    • 24.5% of individuals trading in iPhones during Q4 2018 had moved to a new brand; Samsung (13.8%), LG (8.2%) or Motorola (2.5%)
    • The highest recorded brand retention was 73.5% in Q1 2019, taking 5.7% back from lost users to Samsung and LG
    • In Q2 2019, Samsung was the only brand to sway iPhone users, taking back 2.2%, leaving 72.5% staying with Apple after trade-in.

    Average iPhone Brand Retention (2018 vs. 2019)

    In this chart, we examine at the top 10 smartphone brands consumers have when they trade-in iPhones during 2018-2019. We see a more granular view of the changes in iOS retention between the two years.


    38,043 Individuals - iPhone trade-in / valuation data from 10/01/2018 - 06/30/2019:


    • 2.7% more iOS user's remained loyal in 2019, sticking with Apple during an iPhone trade-in.
    • Other brands swaying Apple fans from 2018-2019 were Samsung ( 0.3%), HTC ( 0.2%), and Motorola ( 0.1%).
    • Fewer iOS users sold their old iPhone to buy from smartphones brands LG (-1.9%), ZTE (-0.9%), and Alcatel (-0.5%).
    • OnePlus leaped into 9th in the top 10 brands iOS users switched too when trading in their old iPhones, there were zero OnePlus upgrades recorded in Q4 2018.
    • Respondents that didn't know their smartphone brand is up 0.3% to 2.1% in 2019.

    iPhone X Upgrade Loyalty Compared to Galaxy S9 (2019)

    Below we have a comparison of the iPhone X and Galaxy S9 brand retention. These device-specific samples show that fewer Samsung users were changing to iOS, compared to double the percentage of iPhone users going to Samsung.


    2,427 Individuals - iPhone X VS Galaxy S9 trade-in loyalty 01/2019 - 06/2019:


    • 26.2% of individuals trading in their iPhone X moved to another OS, e.g. Android/RIM/Windows
    • Only 7.7% of Galaxy S9 users switched to an iPhone, leaving 92.3% on Android/RIM/Windows

    Best vs. Worst iPhone Upgrade Loyalty by Device (2019)

    Below we show each end of the retention scale as user's trade-in iPhones on a device specific level. The overarching storyline here is where almost 1 in 5 individuals trading in the iPhone XS had a Samsung device (compared to an iPhone 8 where less than 1 in 10 had.)


    12,105 Individuals - iPhone trade-in / valuation by device from 01/2019 - 06/2019:


    • Individuals trading in their iPhone 7 Plus owners were the most loyal, with 81.7% of respondents sticking with Apple.
    • Only 57.1% of iPhone 5 owners have an iPhone as their current device.
    • Last year's iPhone XS was in the lowest devices for Apple loyalty, with 65.3% of users currently using an Apple device.
    • 18.5% of people selling an iPhone XS had moved to Samsung - the most significant Apple to Samsung brand switch out of 16 phones

    Methodology

    BankMyCell's report is based on the collection of brand, device and operating system data for marketing material, with the goal knowing the next device a consumer has to offer trade-in prices at various stages of the upgrade cycle.


    This sizable dataset gave us a unique insight into consumer upgrade patterns within the trade-in market.


    This iPhone trade-in report collected the following datasets:


    • 38,043 unique Apple iPhone users
    • 26,724 unique iPhone users where the model was defined
    • In the case of the Galaxy S9 comparison, 468 unique users
    • Our online audience 62.4% millennials / 37.6% were 36-65
    • 60.7% female / 39.3% male gender split

    Data was collected from 10/01/18 – 06/30/19.


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    How to sell your iPhone with BankMyCell


    Since the first iPhone launched in 2007, Apple has been pushing out brand new models every year making fans want the latest technology. Lately, these advanced smartphones have gotten EXPENSIVE, which means when you're looking at how much can you sell your iPhone for there's a high chance you'll lose more trade-in cash by picking the wrong buyback store.


    So where is the best place to sell your iPhone? The options are carrier trade in services, shopping mall kiosks with ATMs or online trade-in stores. The best place to resell your device is online, in fact, if you look at the comparison charts below you can see you'll only get a fraction of your devices worth using resale ATMs or a carrier trade-in service. Use our valuation tool to save time and avoid going down a rabbit hole of quote hunting, we compare the highest prices and give you the best deal online.


    How to sell your iPhone for cash

    Here's how you can get what your device is truly worth, earn up to double its value using BankMyCell:

    • Instant quote: Find your iPhone, select the carrier, condition and storage size.
    • Choose buyback store: Pick the store that fits your needs, price, payment options, reviews, shipping options.
    • Send it FREE: Using the pre-paid shipping kit they provide you, simply drop in the mail.
    • FAST payment: As soon as it arrives the store runs a quick check over the device, you'll be instantly paid

    Our pricing versus Verizon, AT&T, T-Mobile, Sprint, etc

    Most carrier buyback deals seem like the convenient option, however, the majority of the time you'll be receiving a fraction of your iPhone's resale value, and it will be via account credit instead of cash. This trade-in offer credit is either deposited to your carrier account instantly or applied over the life of your contract. The exception is if carriers run promo codes seasonally or with major phone releases, sometimes during that period the credit can be a reasonable amount.

    Compare iPhone trade-in pricing from:

    • Verizon iPhone trade-in program
    • AT&T iPhone trade-in program
    • T-Mobile iPhone trade-in program
    • Sprint iPhone trade-in program

    If you're thinking of using your carrier out of trust, most trade-in services are run by a third party company they outsource it too.

    June 2019: Pricing sample taken:

    Trade-in program iPhone X 256GB You Lose
    BankMyCell $512 TOP DEAL!
    AT&T $400 -$130
    Sprint $395 -$135
    T-Mobile $395 -$135
    Verizon $420 -$110

    Prices collected: 26th June 2019 for Verizon locked devices in 'good' used condition

    With BankMyCell you compare iPhone buyback programs that will not only pay more, but they'll also give you the freedom of getting paid in cash to spend on whatever you want. If you were upgrading, our price locks and higher payouts you get more cash to use with your carrier with 30 days to take care of it all, simple!

    BankMyCell VS iPhone buyback instore options near you

    If you're looking where to sell my iPhone for cash in person, make sure it's ONLY because you need cash that day. Check out the table below to see how these convenience trade-ins profit on offering much less than your iPhone's actually worth.

    So if you're looking to sell your iPhone for cash near you, consider that with BankMyCell's trade-in programs, it doesn't matter where you live, the FREE shipping kit is sent directly to your home.

    In other words, if getting more money is important to you, it's best to compare iPhone trade-in program prices here than visiting a store to get a lower deal. After all, going out to the store takes the same amount of time as mailing an iPhone to a trade-in program.

    June 2019: Where can I sell my phone near me?

    Phone trade-in program iPhone X 256GB You Lose
    BankMyCell $512 TOP DEAL!
    Eco ATM Kiosk $335 -$195
    Apple $349 -$181
    Amazon $380.05 -$150
    Best Buy $420 -$110
    Gamestop $375 -$155
    Staples $375 -$155
    Target $304.92 -$225
    Walmart $345 -$185

    Prices collected: 26th June 2019 for Verizon locked devices in 'good' used condition

    Get cash for new, used and broken iPhones

    Thinking of selling and wondering what's your used iPhone worth? You should always keep in mind that your used device's value will always vary from the amount of wear and damage it has, its storage size capacity and what carrier it's on.

    The highest trade-in payouts are received by people that have iPhone's in immaculate condition with no technical faults. Typically the larger storage sizes and carrier unlocked devices get the highest trade-in values.

    For example, say you're curious how much is an iPhone worth when it's got a cracked screen or has water damage, perhaps it's locked to Verizon, AT&T, T-Mobile or Sprint, or maybe it's brand new! The easiest thing to do it use BankMyCell to find your device, and quickly pick the options on each device's quote page to find out how much your old iPhone's worth today.

    Be smart with your trade-in timing around major phone releases

    Essentially, the best time to sell your iPhone is now. Why? Prices rarely go up and last for more than a day or two, they steadily lose trade-in value for 11 months of the year then plummet when the latest model gets released. So if you're upgrading to the latest model you need to lock in your trade-in a day or two before the announcement.

    For example, on average last year's iPhone will lose 38.46% in the first 14 months, with 26.92% of that in the 2-3 months following a new iPhone release.

    If you used the price lock and sold a few days before last year's iPhone was announced, then you'll make around $150 more. Lock in your quote for 30 days by getting a quote and requesting a pre-paid shipping kit; this gives you plenty of time to get the new device and sell.

    iPhone trade-in depreciation in 2018

    What model is my iPhone?


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