The Holiday Tech Shortage
This year’s supply chain issues have made it harder to get the best tech before the holidays. 50% of people found many of the items they want out of stock in both stores and online. Many are also anticipating a 30% slowdown for first-class mail services. The supply chain disruptions have been tough on the tech industry as prices have risen by as much as $50 per device. Many of the top tech gifts are expected to sell out, including smartphones, tablets, and gaming consoles.
There are several reasons for the struggles. One is ongoing chip shortages as the U.S. only encompasses 12% of the global chip manufacturing industry. Another reason is the cost of shipping containers, air freight, and trucking in 2021. Asia-U.S. air cargo rates have risen 40% from the end of August 2021 while the cost of shipping containers from Asia to the U.S. has increased 14 times from just two years ago.
Although shopping for tech gifts has been a struggle, it doesn’t have to be. A solution to combat the tech shortage while saving money is to repair and regift used tech. Tech repair can add more years to a device’s lifespan as simple repairs like replacing a phone’s battery can increase its lifespan to about five years. It is also cost effective as a single household could save about $330 by repairing the gadgets they already have. You could give old devices new life just by repairing the charging port, replacing the hard drive, or changing the battery.
Who knows? The best tech gift might already be in your own house.