The Next Big Sector in Wireless... Are You In On It?

May 04, 2017 — Megan Slinn
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 When I think about what describes the wireless industry, I think fast, ever changing, and complicated. Evolving cell phone styles, constant updates to carrier rate plans, and a plethora of accessories to choose from; none of it comes cheap!

I love having a “new” cell phone, but changing every 2 years is what my bank account allows, and I’m not alone. I have prided myself on never having to fix my phone, but with the move to touchscreens, dropping a phone has become a heart- stopping experience.

I recently had the traumatic experience of moving into the “I dropped my phone, now what” group. It was that jaw-dropping, cross-your-fingers-the-screen-didn’t-crack feeling. There was a large crack across the screen. Of course, being my first touchscreen, I had the mindset that I’m careful and don’t need warranty on it. So I was faced with the decision of what to do, I didn’t want to fork out the cash for a whole new phone, but I couldn’t live with the cracked screen.

Service and repair success

Well, cue the light bulb! With the ever-changing wireless industry, a huge shift is the service and repair sector. According to the IBISWorld Cell Phone Repair Market Report it is a $3.6 billion-dollar revenue per year industry, with an annual growth rate of 3.1%. It was also not surprising to find out 54.7% of repairs done are for a screen repair or replacement. It’s not only cell phone providers that are offering this service, repair only shops are popping up everywhere.

When looking for where to replace my phone, one of the biggest factors in my choice was somewhere that offered a walk-in repair option rather than a mail-in repair service. The less time I could be away from my phone the better. Repair time was cut down by at least a week by eliminating mail from the equation.

Secondly, I looked at who was going to offer me a warranty on the work they did. The last thing I wanted was to have paid to have my phone fixed, only to have an issue later. Of course, price was a factor. Who could do the work for a decent amount of money?

If you’re looking to capitalize on the next big sector in the wireless industry by offering repair services in your store, here is what you need to think about.

  • What type of repair service will you offer? A walk-in repair where customers can stop at your store and drop off their device for repair? Mail in service? One way to capitalize is to offer both. This will help customers who aren’t located close to your stores choose you for their repair services.
  • Will you offer warranty on your work? Being able to offer warranty on the repairs you fix is a checkmark for customers. Backing up your work shows reliability and boosts your credibility in this growing sector.
  • What type of technicians will you have? Make sure you are hiring certified technicians or sending them to courses so they have the knowledge, quality, and expertise your customers are expecting. When working with a $600 phone, you want to make sure your repairs are top notch.
  • The speed of your services will also set you apart. This not only requires ample staff but having the appropriate parts needed in stock to avoid delays in the repair process. You need to have a clear direction of what you fix, so you are prepared for orders.
  • Price will always be key. Competitive prices will help you to get into the market. Customer loyalty, based on the points above will get you to the top.
  • Lastly, a proper POS that lets you effectively run your business. You need a system that will track customers, inventory, help with marketing, and or course keep your orders in check and flowing through repair stages at the click of a button.

With the service and repair sector looking to continue to grow at an annualized 3.1% to $4.2 billon in the next 5 years, be sure to jump on the band wagon now to avoid playing catch up on a growing area of the wireless industry.

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Topics: Retail Operations, Wireless Trends, POS

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