Shoe repair chain Timpson has introduced a new service allowing customers to trade in their old mobile phones for cash. Partnering with gadget resell company musicMagpie and its parent company AO, Timpson customers can now bring their unwanted smartphones to any of the 1,300 Timpson stores to receive immediate payment.
Recent research indicates that 73% of adults in the UK own at least one unused smartphone at home, with an average trade-in value of approximately £250. The total value of these unused devices is estimated to be around £10 billion.
While there are various online options for reselling smartphones, Timpson aims to cater to customers who prefer face-to-face transactions. The survey revealed that 68% of people prefer to trade in their devices in person, with one in four emphasizing the importance of receiving instant payment.
The trade-in service was initially trialed by Timpson and musicMagpie four months ago and has now been expanded to over 1,300 Timpson stores nationwide. John Roberts, CEO and founder of AO World, expressed confidence in the new service, stating that it eliminates the barrier of apathy towards trading in old tech.
The partnership between musicMagpie and Timpson leverages the refurbishment expertise of musicMagpie with the extensive network of Timpson stores, enabling customers to unlock the value of their old devices instantly. Steve Oliver, managing director of musicMagpie, highlighted the significance of expanding their reach through the collaboration with Timpson.
Sid Hubbard, group director of Timpson, emphasized that the addition of smartphone trade-in services aligns with Timpson’s longstanding commitment to repairing and extending the life of goods. The collaboration with musicMagpie enables Timpson to provide a convenient and trusted service to customers seeking to trade in their old smartphones.