A Chinese research firm has recently published a report, showcasing that Huawei is the first choice for phone replacement with their old model. There are some interesting insights in this report, which reveal that the average usage and switch time of a new device has expanded to 43 months. It means an average user switches phones after 43 months of purchase.
After meeting the replacement cycle, the consumer preference for replacements has also changed. For example, users are interested in a flagship phone released last year. Because the price is relative to high performance and the overall specifications aren’t outdated.
The report mentions that consumer selection has now entered a new level and people are now focusing on better user experience. Also, Gen Z consumers are looking at all of the aspects of the phone including looks, value, and recognition. These all specialties are leading them toward brands such as Huawei and the company has become the preferred choice as a phone replacement among your people.
Below you can check Generation Z’s Consumption Preferences for Digital Products.
The moderate product replacement cycle shows that 79.5% of customer changes phones within the interval of 1-3 years. While 70.2% replace devices frequently within the interval of 2-5 years.
Cost-effective mid-range products are popular. 75.9% prefer mid-range mobiles priced at 2000-6000 yuan. 53.6% prefer mid-end devices priced at 5000-8000 yuan. 72.1% prefer other categories of products priced at 1000-6000 yuan.
Repurchase after preferring to identify the brand and 58.6% said they would continue to purchase products of the same brand.
Purchase intention of Generation Z after the release of new products
Important aspects of the report show that 49 percent of people actively pay attention to new products and buy right after the launch. 25% of people wait for customer experience sharing and then decided to purchase a new device. 21.5% of people don’t go after a newly launched device.