The next iPhone release may not be met with the fervour Apple is hoping for, according to a recent survey by Branding Brand, the company specialising in building mobile experiences for businesses.
According to the survey, loyal Apple consumers across generations aren't overwhelmingly excited about a 4-inch iPhone, which is expected to go on sale following Apple's announcement later this month.
In fact, 78% of millennial, generation X, and baby boomer-aged consumers are either happy with and will keep their current device, or plan to wait until the next iPhone launch.
Of the survey participants, 46% have only ever owned an iPhone as their smartphone, while the rest switched to an iPhone at an earlier point in time.
In its investors meeting on January 26 of this year, Apple noted that iPhone customer loyalty, in general, is two times as strong compared to Android.
Millennials, generation X iPhone owners won't ‘downgrade'
The youngest generations of iPhone users are most likely to own the latest devices, the survey found. In fact, 60% of millennials and generation X currently own one of the iPhone 6 or 6 Plus models, but 88% of the people who own these devices aren't interested in a 4-inch iPhone, according to Branding Brand.
"Millennials like to save money but will spend on quality," says Chris Mason, Branding Brand CEO. "With the latest product rollout, many are wondering if Apple is making a step backward, but the company is likely expanding market share to potential consumers wanting to either switch or upgrade," he says.
Baby boomers most interested in a 4-inch iPhone
Out of all age groups, baby boomers are the most likely to own an older iPhone. The survey found that 42% of people owning iPhone 4s and older iPhone devices are willing to trade in their current device for a 4-inch iPhone. More than half of this generation is loyal to Apple and has never owned another brand of smartphone, while 55% of 55-and-older iPhone owners currently have an iPhone 5s or older.
"We've come to expect innovation and excitement from Apple product launches. Unfortunately, none of these rumoured products are actually new; they are light functionality upgrades of devices that excited us years ago," Mason says.
Cost is top concern, but generation X most likely to own Apple Watch
The hype for the new Apple Watch bands might come up short for Apple's announcement, the survey finds. Generation X is most likely to own an Apple Watch; however, only 4% of all people surveyed own an Apple Watch. If it were cheaper, 39% say they would consider buying one.
"Apple has a long way to go if they want to catch up with other wearables. According to our survey, 53% of all consumers without a smartwatch say they couldn't be convinced to buy an Apple Watch, with cost being their top concern,” says Mason.