Americans could be sitting on $33bn of unwanted tech products, according to a new survey by tech buyback site Decluttr.com with hundreds of dollars per household consisting of unused cell phones, tablets and other related devices!
The survey revealed that the average U.S. household contains $264 worth of unused cell phones, tablets, games consoles, e-readers and iPods. 58% have up to three unused cell phones in their home, with Samsung, LG and Apple devices the most common.
With Thanksgiving, Black Friday and Christmas on the horizon, selling those unwanted goods and unlocking that extra cash could be invaluable. However, despite the growing market for refurbished technology, a third of Americans who took the survey didn’t know they could trade in their technology for cash.
Other chose to hold onto their unwanted tech, citing a number of reasons. 32% said they wanted to keep their old devices as back up should they break their current device, while 29% were nervous about their personal information falling into the wrong hands.
21% of those surveyed stated that they put their unwanted devices away and did nothing with them once they’d upgraded. 65% keep their unwanted devices in a drawer, while 35% keep them in their bedroom.
Liam Howley, CMO at Decluttr.com, said: “We all do it, we leave those old cell phones in drawers or upgrade to the new tablet and let the old one gather dust, but it’s crazy how much money we’re missing out on by not selling our old tech.
“The survey revealed that the average U.S. household is sitting on $264 worth of unused tech – that’s around $33bn nationally. With the holidays just around the corner, selling those items would free up some vital cash to spend on Christmas presents and other holiday essentials.”
Holding onto to your tech could be a bad idea though. Another study by Decluttr found that LG phones lost just 75% of their value in just 12 months, while Samsung and HTC phones lost 72%. Apple products fared slightly better, although they still lose over half their value (57%) in a year.
Consumers have long relied on auction sites or carrier buyback schemes to sell their old devices, but recent years have seen a number of tech-focused buyback sites emerging – including Decluttr. Decluttr offers customers an instant value for their items, plus free shipping and next day payment via direct deposit, PayPal or check.
“At Decluttr, we offer customers a great way to get rid of any unwanted tech and give them the best price for it,” Howley continued. “The money is sent straight to the customer’s bank or PayPal account once the items are processed at our HQ, and this can then be spent on other things, like Christmas present shopping or the weekly grocery trip”.
Interestingly, Decluttr’s study also found that Americans are more than willing to buy tech despite their reluctance to sell it. The average US consumer spends at least $531.43 on tech items each year, with cell phones and games consoles at the top of their shopping lists.