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BizReport : Mobile Marketing : July 23, 2015


Survey: Millennials turning in smartphones early

When it comes to new devices, Millennials want them, and they're willing to pay a price. That's the takeaway from new data which shows 70% of Millennials are willing to use early upgrades to have the latest smartphones and over half (56%) have owned at least 3 smartphones over the last 5 years.

by Kristina Knight

Android and iOS owners are nearly equally as likely to switch early - 69% of Android owners and 70% of iPhone owners upgrade early, according to the survey conducted by Research Now.

"Among millennials, 'being first' is a badge of honor, which is driving early upgrade adoption," said Keir McConomy, founder of SellCell.com, which commissioned the study. "The shelf life of a smartphone is really shortening for that reason, which will drive interest in recycling devices or trading them in."

Some interesting findings from the survey:
• Millennial woman are more likely than men to have owned at least 3 phones over the past 5 years (59% vs 52%)
• 84% of Millennials say they track new phone releases through their service provider
• 47% say they upgrade early because they want to be first adopters, 16% say they upgrade to get credit/money for the trade
• Post-upgrade 40% say they 'store the old phone', with Android owners more likely to keep old devices (44%) vs Apple (35%)

Nine in ten Millennials say they're 'interested in phone recycling', but only about one-third (34%) of Millennial smartphone owners have used phone recycling options.

The average smartphone price (North America) was $531 over the past 5 years; this means Millennials have spent at least $1,593 on their devices.






Image via Shutterstock

Tags: millennial marketing, millennial mobile trends, mobile marketing, mobile trends, Research Now, SellCell








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