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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
North America Refurbished Retail Market Outlook
The market size for refurbished retail in North America reached a value of more than USD 15.88 billion in 2023. The North America refurbished retail market is expected to grow at a CAGR of 12.6% between 2024 and 2032, reaching a value of USD 32.29 billion by 2032.
Key Trends in the Market
Refurbished retail is the sale of used, returned, or old electronics or appliances that are repaired and restored to the original condition in terms of appearance and performance. They are carefully tested for quality as well as function and, parts are repaired or replaced if needed. Any older data from previous users is deleted, devices are cleaned, and software updated to latest versions.
- Improved accessibility and visibility of the refurbished retail market, particularly through online channels is increasing the confidence of consumers to experiment with refurbished items rather than buying new.
- The rise in affordability and awareness about refurbished devices or electronics is expected to drive the North America refurbished retail market demand. This is due to the growing urban population and rising awareness among consumers about the affordability and quality of refurbished products.
- The surging environmental concerns owing to huge e-waste generation along with the rising shift of countries towards a circular economy to alleviate the environmental impact of e-waste is expected to propel the market growth across the region.
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Market Analysis
Based on type, the North America refurbished retail market can be segmented into certified refurbished, and seller refurbished, among others. On the basis of certified product categories, the market is categorised into mobile phones, mobile accessories, computers and laptops, tablets, portable and home audio, TV video, smart watches and fitness trackers, vehicle electronics (audio, video, GPS navigation, and trackers), kitchen appliances, vacuum cleaners, lawn mowers, and accessories, networking and gaming, VR, video game consoles, outdoor power equipment and tools, health and beauty (hair care and other styling products), air movement, and smart home, among others.
By seller product categories, the market is classified into 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, and video game console, among others. Based on country, the market can be divided into the United States and Canada.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the North America refurbished retail market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- Amazon.com, Inc
- Walmart, Inc.
- Target Corporation
- Back Market Inc.
- Ecoatm, LLC
- eBay, Inc.
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Market Share by Certified Product Categories
The mobile phone segment is expected to gain momentum in the refurbished retail market across the region on account of the increasing usage of mobile phones. The rising shift of consumers toward smart devices is likely to fuel the segment growth in the market. With the rising costs of smartphones, and relatively fewer changes between models, there is greater demand for refurbished mobile phones that offer similar features.
Another sizable segment in the North America refurbished retail market is for outdoor power equipment and tools, that tend to be expensive when purchased new and have a long lifespan. With more people changing homes, and switching between apartments and houses with lawns, the need for outdoor power equipment varies. Such equipment is not used on a daily basis nor are advanced features required, encouraging buyers to opt for refurbished models.
Market Share by Country
Geographically, the United States is expected to augment the North America refurbished retail market share on account of the growing population along with the rising disposable income. The growing e-commerce sector as well as online platforms for the sale and purchase of refurbished retail with substantial production capabilities is likely to propel the market growth of refurbished products.
The strong presence of key market players like Amazon and Walmart in the United States, with multiple branches and fulfilment centres throughout the country, is further expected to push forward the market growth of refurbished retail. The increasing awareness regarding refurbished products among consumers in the United States, as these products are sustainable, reliable, and affordable, is expected to fuel the overall North America refurbished retail market.
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Competitive Landscape
Amazon.com Inc is a global enterprise that is an online retailer and web service provider. It deals in e-commerce, cloud computing, artificial technology, and online streaming. The products Amazon sells include groceries, apparel, electronics, health, and fitness, among others. The company has recently introduced Amazon Renewed which offers expertly refurbished products at great prices.
Walmart Inc is a global retailer with supermarkets, grocery stores, hypermarkets, and discount and department stores. Its product lines include health and wellness, grocery and consumables, technology, hardlines, office and entertainment, home, and apparel categories at low prices for everyday use. Walmart has introduced Walmart Restored which includes quality sellers and suppliers for products that are inspected, tested, and cleaned, with 90 days free return or replacement, helping to extend the life of the product.
Back Market Inc. is an online market platform for refurbished electronic products. The company provides renovated electronic appliances and devices to consumers in several countries like the United States, Germany, France, the United Kingdom, Spain, Italy, Belgium, the Netherlands, Austria, Japan, Portugal, Ireland, and Finland.
Other market players include eBay, Inc., Target Corporation, and Ecoatm, LLC, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Certified Product Categories |
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| Breakup by Seller Product Categories |
|
| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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North America Refurbished Market Report Snapshots
North America Refurbished Market Size
North America Refurbished Market Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market size for the refurbished retail market in North America was estimated to be USD 15.88 billion in 2023.
The market is assessed to grow at a CAGR of 12.6% between 2024 and 2032.
The major market drivers are the increasing awareness about quality refurbished products and the growing consumption of electronic devices.
By 2032, the market size for the refurbished retail market in North America is projected to reach a value of USD 32.29 billion.
The key market trends include increasing costs of new electronic items, growing penetration of refurbished electronic appliances, and the rise in environmental awareness and sustainability.
The various types in the market for refurbished retail include certified refurbished, and seller refurbished, among others.
Electronic items become e-waste when they are thrown out, often ending up in landfills and polluting soil and groundwater. Refurbished retail extends the lifespan of older electronics, reducing the generation of e-waste.
The major players in the North America refurbished retail market are Amazon.com, Inc, Walmart, Inc., Back Market, Best Buy, and ecoATM, LLC (Gazelle), among others.
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