UK Sustainability in Technology Market Report 2022
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The UK Sustainability in Technology Market Report identifies consumers’ attitudes towards refurbished technology, technology companies’ transparency over their environmental impact and future innovations in the sustainable technology market. This report covers the green technology and sustainability market size, market forecast, market segmentation and industry trends for the UK sustainable technology market.
The impact of inflation is restricting household budgets. In turn, this is boosting the green technology and sustainability market due to more motivation to buy refurbished technology as there is a greater appeal in these products because they are cheaper than new ones.
COVID-19 also increased consumers’ motivation to protect the environment, meaning they are more likely to buy sustainable technology products or sustainably dispose of old technology compared to last year.
The biggest reason why people have not bought refurbished technology is that they are concerned about quality. Therefore, companies selling high-end refurbished, sustainable technology should give clear visual examples of the different types of conditions that a device could be in, from ‘fair’ to ‘good’ condition.
Consumers are unclear about how to recycle technology products after use. Retailers and manufacturers can address this gap by promoting recycling programs where they collect old technology products and deliver new ones. Acting now on prioritising sustainability means technology brands can have a competitive advantage in the green technology and sustainability market.
However, the potential impact of the metaverse could see more people buying the newest products and consuming technology in a way that could negatively impact the environment and the green technology and sustainability market size.
Read on to discover more details or take a look at all of our UK Sustainability Market Research.
Products: New devices, refurbished devices, and recycled devices.
Brands: Urbanista, Samsung, Microsoft, Apple, CeX, iOutlet, musicMagpie, Asda, Tesco, House of Marley, Amazon, eBay, Back Market, Nixon, Currys PC World, Sony, Huawei, Oppo, Motorola, Fairphone, Xiaomi, Acer.
This report, written by Zach Emmanuel, a leading analyst in the Technology sector, delivers in-depth commentary and analysis to highlight current trends in the sustainable technology market and add expert context to the numbers.
“Concern over quality is the primary reason consumers have not bought refurbished technology before. Therefore, it is key that retailers give clear visual examples of what a refurbished or second-hand device looks like in ‘fair’ condition or ‘good’ condition, particularly for the more expensive products.”
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Please Note: All of the figures, graphs, and tables in this sample report have been redacted.