CIRP reports that the U.S.-Weighted Average Retail Price (WARP) for the iPhone in the September 2023 quarter had declined by 4.1% year-over-year to $918. This decrease is attributed to more people in the U.S. purchasing the lower-priced models with the base amount of storage.
The data published by CIRP shows that the number of iPhone buyers who purchased a new iPhone with more than the base amount of storage reached 59% during the September 2021 quarter, likely due to the impact of the pandemic. However, following this peak, the percentage has returned to normal levels.
In the September 2019 quarter, only 40% of U.S. consumers buying a new iPhone opted for a version with more than the basic amount of storage. This figure increased to 45% in the September 2020 quarter before reaching its peak in 2021. Since then, the numbers have decreased, with 43% of buyers in the September 2022 quarter and 44% in the most recent iPhone launch.
CIRP speculates that the decrease in the need for additional storage is due to the use of cloud storage and the rise of streaming content. However, the trend of keeping phones for longer periods may push buyers to “future-proof” their phones by purchasing expanded storage.