The study found that 63% of consumers bought refurbished, open box, or traded-in technology. But if you look a little closer at the data, you’ll see bigger generational differences behind this push for used tech.
What’s behind the growing move toward buying used tech?
Almost three-quarters of Gen Z shoppers (71%) bought recirculated technology, compared to a little over half of Boomers (55%), while Millennials and Gen X fell somewhere in between. There are several compelling reasons why Canadian consumers are becoming more open to the idea of used technology.
Saving money
According to Best Buy Canada, buying refurbished items can save people up to 40% off the original retail price. Consumers also feel more comfortable with their purchases, knowing that they’re backed by a minimum 3-month guarantee.
It’s probably no surprise that cost was the most important factor in buying used among the different generations. 86% of Gen X shoppers listed saving money as a top motivator for buying used, compared to 69% of Boomers.
The most popular refurbished product categories are wireless items, laptops, computers, tablets, and video game consoles.
Aligning with values
Generational divides are more apparent when shoppers were asked about environmental impact. Only 29% of Baby Boomers said their concern about reducing technological waste was a factor in buying used electronics. On the other hand, it was the second-most important factor for Gen Z (44%), Millennials (40%), and Gen X (33%).
For generations that have grown up with planned obsolescence and the climate crisis, buying used is a way to give new life to products that would otherwise end up in a landfill.
Wider access to used products
Mark Leahy, Best Buy’s Senior Director of Service Centres & Reverse Logistics, brings up a simple but overlooked reason why more people are buying used: there’s better access to used items.
“Canadians have more options for non-new technology, making it more accessible than ever before. For those looking for cost savings, buying a refurbished, open box or traded-in device is a way to bring down initial costs while still getting a product that is in great condition,” said Leahy.
Many people would agree that it’s easier to purchase used products, since you often see open box or refurbished items listed on consumer websites next to new listings.
Open box products were the most popular among Gen Z and Millennials, who could save an average of 28% off the original sales price.
The original purpose of the study was to evaluate back to school shopping habits, so how do shopping habits among parents look?
Whether or not parents spring for new technology or buy used devices largely depends on the ages of their children. Over half of parents with children between the ages of 4 and 5 bought open box items. As children get older and parents replace existing devices, more are trading in their technology or considering buying used tech (84%).
As teens use more devices and reach for more costly items, like phones and gaming systems, price becomes the most important factor in buying technology. 39% of parents with teens report cost as their biggest deciding factor for purchasing used.
Purchasing habits by province
This extensive report also compared used technology shopping habits across the country to find regional differences. It found that of all provinces, Manitobans spend the most on consumer technology ($1,001 or more in a year), followed closely by Alberta and Ontario.
Atlantic Canada spent the least, but Quebec and Ontario were the most price-conscious shoppers nationally, with 33% and 31% respectively, saying price was the biggest factor in their decision to buy. Atlantic Canadians were also 3x as likely to consider financing compared to the rest of the country.
