A Telling Study on Electronic Device HoardingA Telling Study on Electronic Device Hoarding

Roughly 88 percent of Americans hold onto old electronic gadgets they no longer use. That’s about 1.3B devices with a total worth about $67B stashed away in homes at this moment, estimates buying and selling platforms SellCell.com and SellMobile.com.

The companies released a report based on a survey of 2,000 participants that compares the electronics “hoarding” habits of consumers in the U.S. to those in the U.K., two of the world’s largest electronics markets with both high adoption and disposal rates.

The study highlights trends, identifies barriers, and suggests solutions to address e-waste in similar but distinct markets where unused phones, tablets, laptops, smartwatches, gaming consoles, among techs are piling up by the tonnage, only to sit idle.

“Keeping outdated devices at home may seem harmless, but it can lead to clutter, environmental risks, and wasted valuable materials. Instead of letting devices collect dust, selling them can yield financial rewards for owners, but still many people leave technology stored in garages, cellars and cupboards,” says Sarah McConomy, chief operating officer for SellCell.com and SellMobile.com.

McConomy dove into this research project with the intention of informing policymakers, recycling and trade-in services, tech companies, and consumers. They all have their own interests, challenges, and goals from figuring out how to improve recycling and trade-in programs to increasing user engagement.

The big-picture study finding that mountains of dated gadgets are left unused rather than sold or given away is no great revelation; but here’s a breakdown that tells a little more of the story:

But why is this happening in light of rising consumer voices around climate change –and as they hear of the consequences of e-waste and the benefits of recycling?

Folks are not recycling more the report concludes, because they believe that devices are too old (73.5% think they have no value), and they worry about data security (66.1%).

Then there is the issue of limited accessible recycling options, or lack of awareness of what options are out there. Many people simply do not know where to recycle or sell their devices (29.8% U.S. /  26.0% U.K).

SellCell estimates an average resale value of about $50 per device across product categories, including phones, tablets, earphones, gaming consoles, e-readers, and other products.

But old technologies’ worth typically ranges from $20 to $500, depending mainly on type, age, capacity, and condition.

“Old” smartphones can go for even more. Here are a couple of eye openers: an iPhone 15 Pro Max could be worth up to $863, while a Samsung S24 Ultra might go for as high as $680 with SellCell.

Undoubtedly gadgets aren’t resold nearly as fast as they are produced and bought brand new, but recommerce is on an uptick as some consumers prioritize sustainability and perhaps more prioritize price point. The global refurbished electronics market hit $85.42B in 2021 and should reach about $272.91 billion by the end of 2031, projects Transparency Market Research.

Gaining consumer confidence is proving key to sell ability, so reputable on-line trading venues are stepping up to substantiate product quality and value.

At SellCell.com and SellMobile.com consumers get comparative trade- in pricing and find reviews from over 40 top tech trade-in brands. The platform retrieves the data by combing the internet for the best deals.

eBay has a dedicated “Refurbished” program and works with third parties to rate secondhand electronics’ condition as “Certified,” “Excellent,” “Very Good,” or “Good.”  The giant on-line venue also partners with SquareTrade, an Allstate company, to be able to tack a one- or two-year warranty onto every refurbished product.

When Waste360 last spoke to Mari Corella, a general manager at eBay, she said sales of secondhand electronics were actually growing “meaningfully faster” than brand-new goods and that in the first two quarters of 2023, eBay’s Refurbished program maintained double-digit year-over-year growth from the previous year.

A quick Google search will find plenty more platforms working as hard to sell trust as to sell the device, promising “quality inspections,”  guaranteeing their products, and posting reviews—some tell the story of how together they and consumers can help protect the planet by supporting resale, slowing the onslaught of new products that otherwise usually end up landfilled.

Back to SellCell and SellMobile’s report. Says McConomy: “Overall, these findings highlight the significant value of old technology. Encouraging timely selling or recycling of devices could not only unlock financial benefits for individuals but also contribute to more sustainable practices in the tech industry.”