Move over, fast fashion – there’s a new trend in town, and it’s called “slow tech.” Just as people have started to prioritize sustainable and ethical practices in the fashion industry, the tech world is now witnessing a shift towards more conscious consumption of electronics.
According to a recent study by the International Data Corporation, the global market for refurbished smartphones is expected to reach $67 billion by 2023. This surge in demand for refurbished technology is driven by consumers who are becoming increasingly aware of the environmental impact of electronic waste. With the average American disposing of around 416,000 cell phones in their lifetime, the need for more sustainable technology options is clear.
Key industry players have taken note of this shift, with Apple recently launching a new trade-in program that allows customers to trade in their old devices for credit towards a new one. In a statement, Tim Cook, CEO of Apple, emphasized the company’s commitment to reducing electronic waste and promoting a circular economy.
As the slow tech movement gains momentum, it is clear that consumers are demanding more than just the latest and greatest gadgets – they want products that align with their values. This evolution in the tech industry not only highlights the growing importance of sustainability but also signals a broader shift towards a more conscious approach to technology consumption. In a world where electronic waste is one of the fastest-growing waste streams, slow tech may just be the answer we need to build a more sustainable future.
