BuyBack Plans

In the US there is a move for some companies to buyback electronic products. Their aim is to make it easier for the consumer to upgrade their cell phones, computers, ipods and other electronic gadgets. Their theory is that instead of letting your gadget gather dust it would be better to trade it in for an updated version. The strategy of TechForward is that consumers would pay a premium in order to avail of the guaranteed buyback plan. There is already a predetermined value that the consumer will receive when he decides to sell the product. On the other hand, the strategy of New Corp. is not to charge an additional amount but instead offer store credits to a customer who would bring an old gadget to be traded in.

This move would decrease the clutter in your homes because instead of accumulating useless products you can have the option to sell it back to the company. However, it is also possible that this scheme would actually encourage people to keep on upgrading their electronic gadgets at a faster pace. For instance, a consumer may rationalize that it is better to update his gadget earlier because he would be able to get a higher value for the product that he would sell back.

A downside of this program is that if the product is no longer operational then the company would not pay you anything instead they would just make arrangements to have it recycled. Well, at least it would still be better than just letting old gadgets gather dust in your homes.

Would this service actually work in the Philippines? Maybe, but it would depend on how competitive the trade-in prices are. In the Philippines, when you want to upgrade you could just look for a buyer who would be willing to buy your old gadget. For cell phones, it is relatively easy to trade it in and use the proceeds to buy a new phone. For other electronic appliance you can sometimes see advertisements of second hand products for sale. For instance, just go to the Shopping Center and it quite possible to see a flyer advertising a second hand computer or a laptop. There are also some waste market programs wherein you can actually sell your obsolete electronic equipments. Just check the schedule and go to the waste market area with your recyclables.

Source: http://tech.yahoo.com/news/ap/gadget_buybacks;_ylt=Ai4z8t0aMUloT3kmgSCJBE36L5A5