Liberate your old tech and put cash back in your pocket

So, you’ve decided to treat yourself to a new phone – lucky you!

You’ve set it up; transferring everything – all of your photos, apps, messages and contacts – to your new phone. Now what happens to your old handset?

What if we told you that Brits are sitting on 150 million unwanted, unused devices, leaving them to collect dust in homes across the UK?

With the continuing cost of living squeeze, as well as the increasing focus on sustainability, it’s shocking to think that people are sitting on such a large number of old devices. Especially given that there is an easy solution for both planet and pocket… trade them in!

At Mazuma, we surveyed 2,000 UK consumers to find out what people typically do with their old devices, and uncover current behaviours and attitudes towards buying and trading in tech. Here’s what we found.

Why are we hoarding old tech?

Many of us are guilty of holding onto things “just in case,” and it turns out our old tech is no exception.

Our research found that nearly a third (31%) of Brits admit to keeping their old devices “just in case,” and 21% store them away, “just in case” they need the data stored on them again someday.

But let’s face it, how often do we actually go back to using our old phones? The data will tell you… rarely!

While we know it can be tempting to keep old devices as a ‘back-up’, it’s important for people to think about their reasoning for clinging on to their old tech. Will you really ever use it again?

Results from our survey suggest that old devices tend to accumulate, with nearly one in five (19%) admitting to having three unwanted devices at home, and a bold 17% confessing to possessing four or more.

The hidden value of old tech

Here’s where it gets intriguing. A third (33%) of respondents admit to holding onto these unwanted devices for two to three years, and 16% have had them for a whopping four years or more.

This is a missed opportunity considering that these old devices could be traded in for hundreds of pounds, with some recent iPhone models fetching around £700 or more. However, to get the best value for your unwanted device, time is of the essence. The longer your old device sits redundant in a drawer, the more the value depreciates. As the cost-of-living crisis continues, this is most likely cash that would mean far more back in your pocket.

Overcoming common misconceptions

The majority of people we spoke to (72%) said they were aware of tech trade-in services like Mazuma. But our research also revealed that some are hesitant to use trade-in services, often due to misconceptions.

A fifth (20%) of these consumers expressed concerns about the security of their personal data on the device, while 13% believe it’s easier to just throw old devices away.

Yet, throwing away old devices contributes to the alarming problem of electronic waste. E-waste is a huge problem globally and it’s reported that only 13% is recycled, leaving 43.5 billion tonnes being left to decay in landfill. Your old gadgets can expel toxins when dumped and left to break down on their own, which can have devastating effects on the planet.

Trading in your old devices is not only better for the planet and your pocket, it’s often the safer route for data, too, as it’s all securely wiped prior to recycling. We even have a free data erasure tool that enables people to wipe their phones fully themselves, before sending it off.

Unlock the potential of your old tech

So, here’s the bottom line: Your old tech holds value and can be recycled, potentially giving it – or elements of it – a second life. Instead of letting it gather dust – or worse, throwing it away – consider liberating your old devices. Trade them in, put cash back in your pocket, and contribute to a more sustainable future. It’s a win-win for you and the planet.

Don’t miss out on the opportunity to make the most of your old tech. Visit Mazuma today to find out how much your device is worth and start your journey towards more sustainable and financially-savvy tech habits.