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Home tech will be the most profitable area of technology to sell, say consumers

May 15, 2019

Posted by: Anasia D'mello

The technology buying-and-selling sector can yield impressive profits. Gaming and recreational tech have led for many years, with the likes of retro consoles and Polaroids dominating the cashback limelight. But with the increase in smart home technology, perhaps collectors’ interest could shift towards a new area of investment?

Online marketplace conducted a survey to discover which area of tech 1,784 consumers thought would become the most profitable if they were to resell in the future. Not only that, but how much profit they anticipate to benefit from.

What are the results?

Of the four sectors considered in this survey, 48% (856) believe home technologies will increase the most in value in the future. That is, home tech products such Amazon’s Alexa, Google Home, Smart thermostats etc. will be the most profitable when trying to resell.

In second place is personal tech (Fitbits, smart watches and smartphones for example), with 29% (518) predicting this area will hold many of the most profitable products. Gaming tech such as VR/AR, portable consoles and wireless headphones takes third place, with 13% (232) of consumers believing they’ll be able to resell for the most profit.

And finally, in fourth place, the tech area consumers anticipate growing in value the least over time is recreational tech such as drones, instant cameras and more – only 10% chose this.

How much profit do consumers think they could make?

Following consumers’ choice of tech with the highest potential profit, respondents were asked to predict how much profit* they thought they could attain. The percentage profit that most consumers think they can reach is an optimistic 51-75% – 57% (1,017) of respondents chose this.

The next most popular answer was 26-50% profit (20% – 357 chose this), followed by 76%< with 15% (268) of respondents opting for this amount. Finally, the profit margin the least number of people thought they could achieve was 0-25% – 8% of respondents, that’s 143 people, chose this option.

Does this affect consumer buying habits?

OnBuy also wanted to discover whether the possibility of profit navigates people’s buying decisions. The respondents were next asked “Would you change what/how you buy if it meant a higher profit on resale?” And as expected, 74% (1,320) chose ‘yes’. 17% (303) chose ‘no’, and 9% (161) of the respondents said it depended on what the product was/how much they may have to spend initially.

OnBuy’s managing director, Cas Paton says: “As technology and its demands are continuously developing, it makes predicting future trends difficult. This is why OnBuy believes in the importance of the consumer’s opinion – as the targets for businesses, they will tailor their products around them. This survey is particularly interesting in regard to this. Will we see brands change based on these alternative consumer thoughts? Or will they stick to what they think they know?”

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