According to latest report of research company Consumer Intelligence Research Partners (CIRP), in 2023 the tendency of iPhone buyers in the US to choose more affordable versions of the smartphone has changed.
While historical data suggests that iPhone buyers tend to opt for cheaper models, the weighted average retail price (US-WARP) of Apple smartphones sold in the United States in March 2023 reached a new high of $988. This is an unusual trend, as the average selling price of an iPhone typically declines during the first quarter of the year.
CIRP links the growth of US-WARP to the popularity of models iPhone 14 Pro, for which demand outstripped production, resulting in long order fulfillment times months after launch. In addition, buyers seem to prefer the iPhone 14 Plus over the iPhone 13 mini, and Apple is offering more memory in higher-end models to attract consumers. Additionally, Apple devices tend to hold their value longer, resulting in a better trade-in that lowers the cost of a new model and may encourage people to opt for a more expensive iPhone.
The report also noted that the return of iPhone 14 Pro models to general sales in the first quarter of this year played a role in boosting the average selling price of Apple’s smartphones as suppliers ramped up production following a lull in demand after the Christmas holidays.