It’s easy to blame tighter purse strings for falling electronics sales figures. But it’s not just lack of money that’s keeping customers away; it’s fear of instant obsolescence. Today’s consumer consideration set has fundamentally shifted. We now want long-term value, not just the latest and greatest.
Yesterday we used an electronic device until it broke or a better one superseded it. We disposed of the old with great dispatch. Brands using a Parallel Model of product development kept us enthralled with a constant churn of new shiny objects and updated versions. Durables were recast as disposable. Sales and stocks soared.