The average American now holds onto their smartphone for 29 months, according to a recent survey by Reviews.org, and that cycle is getting longer. The average was around 22 months in 2016.
While squeezing as much life out of your device as possible may save money in the short run, especially amid widespread fears about the strength of the consumer and job market, it might cost the economy in the long run, especially when device hoarding occurs at the level of corporations.
Research released by the Federal Reserve last month concludes that each additional year companies delay upgrading equipment results in a productivity decline of about one-third of a percent, with investment patterns accounting for approximately 55% of productivity gaps between advanced economies. The good news: businesses in the U.S. are generally quicker to reinvest in replacing aging equipment. The Federal Reserve report shows that if European productivity had matched U.S. investment patterns starting in 2000, the productivity gap between the U.S and European economic heavyweights would have been reduced by 29 percent for the U.K., 35 percent for France, and 101% for Germany.
Reduce the amount of disposable income across the board, then start moaning that people arent buying shit they dont need as much… The utter fucking state of these people.
Americans are increasingly opting for reusable cups. This is costing the plastic cup industry billions.
And how exactly is this bad?
Spending less money on stupid stuff isn’t hurting the economy, for fuck’s sake.
The exact same applies to smartphones.
“device hoarding” Fuck off
Good. Better for your pocketbook, better for yourself, and better for the world.
I would like to note that the difference in relative purchases of technology investments between consumer and business markets will make comparison a little less than easy.
That and certain social demographics within the information technology world present a bleed through of practices in spending habits and thus should not be included.
I brought my s24 exactly because it’s got 7yrs of updates. I suspect it’ll need a new battery around 4yrs. If I’m lucky, that will let me hold out until Linux phones are more polished
I’m on an S10 right now, it still runs… dafuq I need a new phone for? So it’ll fit in my pocket even worse.
Ditto, and mainly for the stated continuing security updates, my old note 8 is still working and in fine condition.
If the economy depends in us buying new phones every two years, then maybe the economy wasn’t as strong as we thought it was.
Oh no! Not the economy 😭
Someone please think of the shareholders!!!
The economy can go fuck itself. I’d rather have a society and an ecology.
Not constantly throwing away things that are still good is “device hoarding” now? Strong “quiet quitting” vibes there.
29 months is “as much as possible”? My phone is from 2016 and it works fine!
That impressive really
And i boast about my 2019 phone that still works fine.
The idea, that keeping a device for more than two years is “short term” thinking that could doom the economy, is a pretty damning indictment on the state of your economy.
More to the point that news item came from CNBC, itself a company that is 100% advertiser-supported.
Of course they’re going to claim that people not buying is the doom of the economy.
Their whole existence is tied to hyperconsumption, which, is becoming evident to even the marginally aware, of being no longer viable in the long run.
Say after me: “Too bad, so sad…”
NBC is owned by Comcast, who also owns Xfinity and invests in T-Mobile. At some point there is going to be just 3 companies running everything and the courts they own will say they aren’t monopolies
Why was my first thought who broke Africa, then realized Asia was disconnected as well
Obviously not my graphic but it’s showing company controlled territories rather than strict land masses.
I like the idea that someone would be naming a company Lynch, and selling it to the masses to the point that they own so much
And lifestyle/culture.
NO, it’s costing some companies. The economy benefits from cutting out waste. It just so happens that the stock market and “the economy” are not synonyms.
Who the fuck decided to predicate the economy on a <2-year upgrade cycle for electronics?! Tim Apple is that you?
Continuing to use something that still works is Hoarding? The shear fucking gall. They’re literally having to misuse the word “hoard” because they couldn’t think of a word for “sticking with something that works” with negative enough connotations.
I know, right? That ridiculous usage of the word hoarding stuck out to me as well. While I know words can have different meanings in different contexts, I find it confounding that anybody would think that word applies to a person who is perfectly happy with their fully functional 2+ year old device and therefore does not compelled to buy a new replacement.
