Education
March 18, 2019

Tax Refunds are Coming: Time to Stock Up

April 15. Tax day. The last day to file your taxes to the IRS in the United States. What does this mean in the retail world? Two words: disposable income. If you have been in retail through a tax season, you know what I’m talking about.

Many people wait anxiously through the holiday season, counting down the days until they get their W2 so they can file their returns, knowing EXACTLY how they are going to spend that fat refund check. New HVAC system for the house, down payment on a car, summer vacation for the family, or better yet, upgraded electronics….cha-ching!

The prices of new cell phones, tablets, computers, and all things smart, have skyrocketed in the last few years. All of the bells and whistles and high-end specs don’t come as “needs” for most, but rather more like “wants”. The average person is now waiting 3 years to upgrade their device to a new model for this very reason! The problem with the 3-year plan is that devices break. They get wet. They get lost, stolen, misplaced. And consumers need a replacement when repair isn’t an option. Here’s where you come in.

You may think of yourself and your store as a repair shop. Don’t let that hold you back from being a retail shop! In addition to stocking parts for all of the latest devices, stock the latest devices. There are wholesalers all over the world, including a few of RepairQ’s integrated suppliers, who have stockpiles of certified pre-owned (CPO) devices at great prices. Instead of your customer blowing more than $1k on a new iPhone or Galaxy from the OEM or their carrier, sell them a model that still works great for 1/3 of that price! Most of these wholesalers have great warranties and stand by their products. Don’t be afraid to shell out some of your beloved capital on CPO’s. I promise it will be worth it. You’ll thank me later.

My best piece of advice: DO IT NOW. Don’t wait until you have a padded wallet. Tax season is among us, and if you don’t have devices to sell, the customers will go somewhere else.

Travis Hoge

Travis is a Business Analyst and Implementation Manager for RepairQ, with 12+ years in the wireless industry. His previous experience with sales, repair, and management in the repair industry bring a different perspective to the company. When he’s not in the office, Travis devotes his time to his wife and daughter, his church, and his community.

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