iPhone Owners Prefer Installments When Buying A New Phone, Android Users Stick To Tradition: Survey
Portfolio Pulse from Benzinga Neuro
A recent survey by Consumer Intelligence Research Partners (CIRP) shows that iPhone owners are more likely to choose installment plans over upfront payments when buying their smartphones. This shift can be attributed to higher iPhone prices and increased trade-in values. Telecom carriers and Apple Inc. (NASDAQ:AAPL) have utilized these factors to offer attractive trade-in promotions and installment plans, resulting in slower upgrades.
November 02, 2023 | 9:51 am
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The shift towards installment plans for iPhone purchases could potentially increase customer loyalty and slow down upgrade cycles for Apple Inc.
The shift towards installment plans indicates a change in consumer behavior which could potentially increase customer loyalty towards Apple. This could also slow down the upgrade cycle, potentially leading to more stable and predictable revenue streams for Apple. However, it could also mean that Apple may need to invest more in customer retention strategies.
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