Second-hand Product Warranty
The importance of the used/second-hand product market as a fraction of the total market (new + second-hand) has been growing significantly since the beginning of the twenty-first century. Second-hand products include products that have previously been used by an end user/consumer. Users change their products even if they are still in good condition. Some products such as computers and mobile phones have a short lifetime and technologies of these products are released to the market every day. As a result, the sale of new products is often tied to a trade-in, resulting in a market for second-hand products. For instance, in France, used car unit sales increased from 4.7 million to 5.4 million between 1990 and 2005, at the same time as new car sales declined from 2.3 million to 2.07 million units.
Read more about this topic: Warranty
Famous quotes containing the words second-hand and/or product:
“He who is only a traveler learns things at second-hand and by the halves, and is poor authority. We are most interested when science reports what those men already know practically or instinctively, for that alone is a true humanity, or account of human experience.”
—Henry David Thoreau (1817–1862)
“In fast-moving, progress-conscious America, the consumer expects to be dizzied by progress. If he could completely understand advertising jargon he would be badly disappointed. The half-intelligibility which we expect, or even hope, to find in the latest product language personally reassures each of us that progress is being made: that the pace exceeds our ability to follow.”
—Daniel J. Boorstin (b. 1914)