Strategy Analytics Identifies Options for Capturing Increased Market Share in Smartphone Replacement Market

0
63
Strategy Analytics: Smart Thermostats Most Popular Smart Home Device - Nest and Honeywell on Top

Smartphone Tech Wars Leave Most Buyers Blurry Eyed

Strategy Analytics announces insights on motivations and barriers shaping replacement behaviors in China, the US, and UK.

Figure 1. Consumer SmartPhone Buyer Segments (Source: Strategy Analytics, Inc.)

“Smartphones are the most successful consumer product the world has seen. Consumers love them but getting them to replace the one they have has become increasingly difficult,” said Harvey Cohen, President, Strategy Analytics. “With the replacement market representing 90+% of the 1.3 billion smartphones sold each year, improving the ability to overcome barriers to the replacement decision is critical to improving market share.”

Joy Ganvik , Vice President, Consumer Insights Practice, noted, “Our research has identified five behavioral segments with different motivations and barriers to the replacement decision that operate in China, the UK, and the US in different proportions. Overcoming the barriers to replacement and aligning messaging and value propositions with motivations in each segment better than the competition is key to success.”

David Kerr , Senior Vice President for Strategy Analytics’ Global Wireless Practice commented, “Promoting advanced technology and features such as 5G only motivates two of the five segments to a replacement decision. The other three segments require reducing the inertia of holding on to increasingly reliable and long-lasting devices and motivating the replacement decision with segment-specific inducements.”

“Strategy Analytics will be doing additional analysis of consumer demand for advanced devices and services associated with 5G later in Q3,” added Harvey Cohen.

CRITADEL RELEASE DATE SET FOR SWITCH/STEAM/EPIC

LEAVE A REPLY

Please enter your comment!
Please enter your name here