Online e-commerce platform Wish has launched a trade-in programme for old tech in partnership with Remarketed – one of Europe’s largest refurbished goods providers.
In a statement, the firm said that from next month, ‘Wish Trade-In’ will allow customers in select European geographies to begin trading-in old devices, including smartphones, laptops, tablets and smartwatches, in return for cash, with no strings attached.
The service, which will initially be available in the Netherlands, provides its users with an instant estimated trade-in valuation based on a device’s age and condition. With this information, a user can then send their device for free to be verified and approved before the payment is processed. A select number of the refurbished devices will then be sold on Wish, the firm said.
‘Wish Trade-In’ is aiming to tap into a global secondhand market expected to nearly double by 2027. According to a recent Resale Report the market will surge to $350 Billion as Generation Z consumers continue to look for ways to shop more sustainably. In the U.S, online resale is the fastest-growing sector of the secondhand market and is expected to grow 21% annually, reaching $38 billion by 2027.
“We are delighted to be able to offer a trade-in service to our customers. As well as putting cash back into the hands of our customers, it significantly reduces e-waste by extending a product’s life,” said Alan Small, Director of Business Development at Wish.
“The launch of our trade-in service complements our recently expanded range of refurbished electronics which allows customers to benefit from new technologies at a fraction of the price,” he added.
