Young people renew their iPhone more often

If you were wondering who jumps on the new iPhones as soon as they are announced on the same date every year, here is the beginning of the answer.

According to a recent study by Consumer Intelligence Research Partners (CIRP), younger iPhone users renew their device more frequently than their elders.

iPhone, rate of variable according to age

Thus, 45% of consumers in the 18-24 age group had their previous iPhone for less than two years before changing it. Those who have kept it for more than three years are only 26%. At the other end of the population, among those over 65, only 14% have only kept their iPhone for two years, and those who have kept it for more than three years before changing it represent 65% of this age range. On a larger scale - 18 to 54 years old - between 40% and 45% changed their device after having kept the previous one for less than two years, and between 21% and 27% had kept it for more than three years.

iPhone renewal, the word to the CIRP

“The most obvious thing is that younger iPhone users often appreciate the sometimes subtle improvements in newer models more than older users,” CIRP explains. At the same time, they seem more prepared for the monthly expense of reimbursing a newer iPhone, and more aware of the trade-in value of a relatively newer model to lower that acquisition cost.”