Nowadays, more and more people are finding themselves trapped in the never-ending cycle of purchasing new products. As you browse through Amazon and see a shiny new set of kitchen knives, you might impulsively make the decision to hit the “buy now” button. But did you really need the new set? Or did you already have a perfectly functioning set of knives in your kitchen? This is where it becomes important to understand the cost of perceived obsolescence.
Perceived Obsolescence: What Does It Mean?
If you’ve ever purchased a new product to replace an older, perfectly functioning product, you’ve suffered from perceived obsolescence. This is a common occurrence when it comes to cars and technology. Someone has an iPhone 12 that works fine, but they feel the need to buy an iPhone 13. Put simply, perceived obsolescence is when you feel the need to unnecessarily update products you already own.
While it’s okay to make a new purchase every here and there, when perceived obsolescence gets out of hand it can really break the bank. The cost of constantly buying new phones, cars, kitchen appliances, and clothes can add up.
Common Examples of Perceived Obsolescence
One of the best ways to defeat perceived obsolescence is to recognize its presence. People are particularly susceptible to obsolescence when it comes to a couple of specific industries. Here are some examples:
Sports Apparel
In the sports apparel industry, new jerseys come out every year. To support your favorite team, you have to keep buying new apparel to keep up with new players, logos, and designs. Over time, the cost of sports clothing can add up.
Technology
When it comes to tech, new products are emerging every day. Particularly, when it comes to phones, each model goes out of style within a couple of years. At this point, having the latest smartphone is a status symbol. That said, before you buy that new phone upgrade, you may want to stop and consider whether or not it's a necessary purchase.
Automotive
People experience perceived obsolescence all the time when it comes to cars. Car companies are on the constant move, designing their newest model of car to look prettier than its predecessor. As drivers start to see others driving around in new models of cars, they might feel the urge to unnecessarily upgrade. After the upgrade, however, the same thing is bound to happen again a couple of years later.
Conclusion
While it can be difficult, the first step to resisting perceived obsolescence is to recognize it. Now that you know the industries where the phenomenon is most common, you can take steps to avoid unnecessary purchases and save money. For more information on how to defeat perceived obsolescence, check out the infographic provided below.
