Apple iPad Trade-Ins Spike Over Black Friday Weekend
In yet another sign that Apple (NASDAQ:AAPL) will likely have a highly successful holiday shopping season, online trade-in site Gazelle reported that it saw a massive spike in the number of iPad trade-ins for cash over the Black Friday and Cyber Monday weekend. The unusually high trade-in levels suggest that many Apple users are planning to replace their older iPads with one of Apple’s recently released models.
“We’re seeing a lot of tablets getting traded in, but predominantly we’re seeing second-generation and third-generation iPads, and iPad minis coming in,” Gazelle CEO Israel Ganot told CNBC. “The overall growth that we saw over the weekend between Black Friday and Cyber Monday was 74 percent for the site and was much higher for iPads. We’re clearly seeing iPads and tablets as a new growth category for us.”
According to Ganot, iPad trade-ins were up 175 percent compared to last year. The Gazelle CEO also pointed out that many of these customers appear to have the intention to purchase new iPads. “We surveyed our customers and what we heard was that nearly 40 percent of consumers want to get an iPad for the holidays,” stated Ganot. “The new iPad Air, the new iPad mini — these are great products.”