Considering buying a new cell phone or laptop? When you upgrade your cell phone or computer, it is sometimes a challenge to figure out what to do with your old gadgets. Some people sell their older electronics on eBay or Craigslist. However, there are other newer options for getting rid of your gadgets – some which might get you a little money back.
Several major retailers are allowing you to sell your old electronics back to the store and may offer an in-store credit towards the purchase of an updated product. These brick and mortar stores are operating these programs in conjunction with different websites that look to sell old electronics. These websites then work with eBay or Craigslist to resell those items. Some of the retailers that are participating in these programs include Target, Best Buy and RadioShack.
All parties in this transaction can gain a benefit. The stores themselves experience increased foot traffic with people who are looking for new electronics and some stores are viewing the buy-back program as a type of loyalty program for future purchases. The stores and resellers can also make extra money because the price that the consumer typically pays for electronics is significant less than the retail price; resellers will pay the store closer to the retail price. The reseller can then increase the price on online auction sites or for other outlet stores.
Some of the websites that are working with the retailers include NextWorth, CExchange, and Gazelle. Gazelle also purchases electronics back from customers through their website and through other stores on their branded websites. Nextworth purchased more than 500,000 iPhones, cell phones, video games and iPods back from customers last year.
The interest in this service will only increase. For example, when a new phone release is scheduled, the business for these buy-back programs increases significantly. The resellers start laying the groundwork for the re-purchase by sending pre-addressed mailers or free packaging materials. But having the option to buy back the electronics in-store as well makes selling your electronics very convenient.