North America Refurbished Retail Market Report and Forecast 2023-2028

North America Refurbished Retail Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the North America refurbished retail market attained a value of USD 17837 million in 2022. Aided by the increasing adoption of refurbished electronics and environmental awareness, the market is projected to further grow at a CAGR of 10.6% between 2023 and 2028 to reach a value of USD 36354 million by 2028.

Refurbished retail refers to the process of reconditioning used electronic products, such as smartphones, laptops, and appliances, to ensure they meet the same quality and performance standards as new products. The refurbished retail market caters to consumers seeking affordable, environmentally friendly options for purchasing electronic devices. These devices undergo rigorous inspection, repair, and certification processes to guarantee their functionality and reliability. Increased environmental awareness is one of the primary factors driving the growth of the North America refurbished retail market. Consumers are becoming more concerned about the environmental impact of electronic waste, as it poses serious threats to human health and the environment. The refurbished retail market helps address this issue by extending the life cycle of electronic products and reducing the amount of e-waste generated. As a result, eco-conscious consumers are increasingly opting for refurbished products over new ones.

The rising cost of new electronic devices is another significant factor contributing to the growth of the North America refurbished retail market. With prices of new electronics continually increasing, budget-conscious consumers are turning to refurbished devices as a cost-effective alternative. The growing popularity of online shopping platforms has also played a crucial role in the expansion of the North America refurbished retail market. Additionally, these online platforms offer detailed product descriptions, customer reviews, and warranty information, further enhancing the consumer experience and encouraging the adoption of refurbished products.

Technological advancements in the refurbishment process have also contributed to the growth of the North America refurbished retail market. Advanced diagnostic tools and repair techniques enable refurbishers to identify and fix issues more efficiently, ensuring that the refurbished products meet the highest quality standards. Moreover, the use of certified components and rigorous testing processes guarantees the reliability and performance of these devices, increasing consumer confidence in the refurbished retail market. Increased demand for refurbished products in various sectors, such as education, healthcare, and small businesses, has also positively impacted the growth of the North America refurbished retail market. These sectors often face budget constraints and opt for refurbished electronics as a cost-effective solution for their technology needs.

Market Segmentation

The market can be divided on the basis of type, certified product categories, seller product categories, and country.

Market Bifurcation by Type: Certified Refurbished Seller RefurbishedMarket Division by Certified Product Categories: Mobile Phones Mobile Accessories Computers and Laptops Tablets Portable and Home Audio, TV Video Smart Watches and Fitness Tracker Vehicle Electronics (Audio, Video, GPS Navigation, and Trackers) Kitchen Appliances, Vacuum Cleaners, Lawn Mowers, and Accessories Networking and Gaming, VR, Video Game Console Outdoor Power Equipment and Tools Health and Beauty (Hair Care and Other Styling Products) Air Movement Smart Home OthersMarket Segregation by Seller Product Categories: Mobile Phones Mobile Accessories Computers and Laptops Camera and Lenses Tablets Smart Watches Outdoor Power Equipment and Tools Kitchen Appliances, Vacuum Cleaners Networking and Gaming, VR, Video Game Console OthersMarket Breakup by Country: United States of America CanadaCompetitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the North America refurbished retail companies. Some of the major key players explored in the report by Expert Market Research are as follows: Amazon.com, Inc Walmart, Inc. Target Corporation Back Market Inc. Ecoatm, LLC eBay, Inc.About Us

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.