You might think that with the speed at which electronics evolve these days, nobody would be crazy enough to give you cash for old (working or not) electronics, but Gazelle.com does exactly that.
Started by Israel Ganot and Rousseau Aurelien, Gazelle pays cash for old electronics--everything from laptops to iPods and mobile phones. Prices are determined by data sources like eBay, and Gazelle profits by reselling these devices to secondary retailers, wholesalers and refurbishers.
Implications - One factor deterring consumers from purchasing new technological products is that they feel their purchases will become obsolete within a very short time frame. Corporations looking to remedy this consumer mentality may consider offering purchasing incentives aside from the actual device itself.
Cash for Old Electronics
Gazelle Helps You Pad Your Wallet by Selling Your Junk
Trend Themes
1. Cash for Old Electronics - Companies can start offering incentives to customers to sell their old electronics to prevent them from becoming obselete in the eyes of consumers.
2. Secondary Retailers - Secondary retailers, wholesalers and refurbishers can capitalize on the trend of buying old electronics and refurbishing them for resale.
3. Data Driven Pricing - Companies can leverage data sources like eBay to determine the pricing for old electronics and create marketplaces for their resale.
Industry Implications
1. E-commerce - E-commerce businesses can capture the profitable opportunity by buying old electronics and reselling them through a platform.
2. Environmental Sustainability - Companies can contribute towards environmental sustainability by providing a convenient and profitable way to recycle and repurpose electronics.
3. Technology Retailing - Companies in the technology retailing space can leverage this trend by offering buybacks, trade-ins or similar incentives that create demand for the returned devices.