Vodafone has launched the UK’s only unbeatable trade-in offer, guaranteeing customers the best price for their current smartphone and therefore saving them money when purchasing their next one.
- One-in-five Brits have traded in items for upgrades or cash in the last six months in an effort to still get their hands on the latest items despite the rising cost of living – with 31% of those doing so for the first time.
- This represents a 26% increase in people trading in items over the last six months, and a 72% increase since last year.
- According to new research from Vodafone, savvy Brits are trading in items including mobile phones (39%), cars (31%), home appliances (15%), clothes (22%), and books (21%).
- However, 70% still have unused mobile phones lying around at home. which could be used to get money off their next smartphone.
- Vodafone has launched the UK’s only unbeatable trade-in offer, guaranteeing customers the best price for their current smartphone and therefore saving them money when purchasing their next one.
- With Vodafone’s Unbeatable Trade-in, customers can get up to £864* when trading in an eligible device.
Despite the rising cost of living, Brits’ appetite to keep buying what they love shows no signs of slowing down and savvy Brits are looking for new ways to get their hands on new tech, clothes and cars. New research from Vodafone reveals that a fifth (19%) of Brits have traded in items for upgrades or cash in the last six months. A 26% increase on the last six months and a 72% increase on last year.
Almost a third of those (31%) have traded in an item for the first time, contributing to a 26% rise in the number of people trading in items compared to the previous six months (9.7m vs 7.7m) and a 72% rise since last year (9.7m vs 5.6m).
The survey by Vodafone found that, since the start of 2022, more than half of customers trading in for the first time (57%) have done so in order to make their money go further. Motivations also include wanting to help the environment (36%) and looking to declutter (32%).
And people are seeing real benefits; Brits estimate they’ve saved an average of £221.50 so far this year by making tactical trade ins and savvy swaps.
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Tech tops the trade-in list with mobile phones being the most popular item (39%), followed by cars (31%), DVDs (23%), clothes (22%), books (21%) and video games (21%).
Laptops (20%), CDs (19%), tablets (18%) and games consoles (15%) round out the top 10.
The research comes as Vodafone launches the UK’s only unbeatable trade-in offer, guaranteeing customers the best price for their current smartphone and saving them money when purchasing their next one.
Vodafone is the only network that provides customers with an instant and guaranteed evaluation of how much their smartphone is worth before it’s sent in. Customers are guaranteed the price they’re quoted when they use Vodafone’s Trade In Tool (using the My Vodafone app) – and daily price checks ensure Vodafone will never be beaten on trade-in prices.
The market-leading trade-in offer helps the latest tech become more accessible and affordable. For instance, savings of up to £864 can be made when trading in an eligible device.
With people looking to save money, trade-in tops the list of what people plan to do with their phones (36%).
Those who aren’t planning a tactical trade-in will turn to recycling (33%), giving items away to friends or family (33%) or selling them (27%) as ways to clear out the cupboards. However, 35% still admit they don’t do anything with their unused items, keeping them in a drawer at home or even throwing them away (14%).
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The move towards trade in looks to be a permanent fixture across the UK, with only 18% of Brits saying they have never traded in an item before, with the main barriers being fear that their goods won’t be worth anything (33%) or assuming the process will be too much effort (23%).
However, over two thirds (67%) now say they’d consider trading in when buying their next mobile phone to save extra cash.
Vodafone has partnered with personal finance expert, Mrs Mummypenny, to help Brits make the most of their money during the cost-of-living crisis.
She says, “We love to treat ourselves, but now even more than ever we need to make sure our money goes further.
“Often, households can miss out on savings by ignoring a few simple but effective ways to cut down on costs. Trading in an old mobile phone is a great way to get some money or make a saving if looking to upgrade your tech, and doing so with Vodafone will guarantee the best price.”
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Max Taylor, UK Consumer Director at Vodafone said, “People across the UK are understandably extremely value-conscious right now, but we know many still want to get their hands on the latest tech. So for anyone thinking about getting a new smartphone, we urge them to consider trading in with Vodafone as we can guarantee they won’t get a better price for their current device anywhere else.
“Getting better value for your current smartphone means that you’ll be able to get the latest handset at a more affordable price, saving you money at a time when it’s really needed.”
Vodafone’s market-leading Trade In Tool forms part of the flexible mobile offering that gives customers the phone they want at the price they choose – Vodafone EVO.
Vodafone EVO puts customers in control of how they pay for their new smartphone, giving them the flexibility to decide how much they want to pay upfront for their new device, and over how long they want to pay it off – from three to 36 months at 0% APR.
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Notes to Editors
About the research
Consumer research conducted across 2,000 UK nationally representative adults in August 2022. Please contact vodafone at tinmancomms.com for the full breakdown of all statistics.
*Customers trading in the Galaxy Z Fold 3 5G can get up to £864.
Unbeatable Trade-in: offer ends 15.09. Using our daily price check mechanism (Mon – Fri), we’ll offer the best price vs any other mobile network’s trade-in price (excl promotions), when you trade-in an eligible device using our Trade In Tool. Returned device must be in good working condition. Terms, checks & eligibility.
Please visit the Vodafone UK website for a list of eligible devices for the Unbeatable Trade-in offer.
Trade-in Guarantee – available when you trade-in an eligible device using our Trade In Tool, and purchase a new Vodafone Pay Monthly Airtime Plan. Your Trade-in value is guaranteed for seven days from the date of your Trade-in Quote. Device must be returned within 14 days of the start of your new Airtime Plan and meets our requirements. View our Terms & Conditions, which also details the eligibility criteria.
