As noted by CIRP (Consumer Intelligence Research Partners), a US market research firm that focuses on analyzing consumer behavior and market trends, the average selling price of the iPhone has reached a new recordclose to $1,000, which would also have allowed Apple, despite a general decline in sales, to obtain revenue of approximately $51 billion in the fiscal second quarter
In addition to this figure, the CIRP also noted the tendency of users to keep their iPhones for longer than ever before, which could lead, in the long run, to a progressive slowdown in demand for new models. According to the CIRP, in fact, from 2019 to 2021 there were more and more users that Apple kept their iPhones for the most part, with a 34% who had owned one for three years or more.
This trend appeared to have reversed over the course of 2022, but the most recent data, those relating to March 2023, show that most users have returned to changing their iPhone less often, again reaching a period of 2/3 years or more. According to the report, this trend may have been influenced by several factors, including pandemic-induced buying.
In fact, during the health emergency, there was a significant reduction in travel and entertainment expenses, as well as a series of economic aid implemented by the governments of many countries and, last but not least, also the more aggressive exchange programs offered by Apple. All these aspects may have encouraged users to switch their iPhones even if not strictly necessary.
With the end of the pandemic, and with the progressive return to “normality”, many users would therefore have started spending money again on travel, entertainment and other activities, allocating a lower budget to changing smartphones, carried out only in case of real need.
