2022
9
UK Sustainability in Technology Market Report 2022
2022-06-25T04:07:49+01:00
OX1104607
2195
152399
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Report
en_GB
“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…

UK Sustainability in Technology Market Report 2022

£ 2,195 (Excl.Tax)

Description

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.

 

Current Market Landscape 

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.

 

Green Technology and Sustainability Market Share and Key Industry Trends

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.

  • 50% of UK consumers wouldn’t buy refurbished technology as they are concerned about quality.
  • 24% of UK consumers would be interested in purchasing a refurbished smartphone.
  • 33% of technology device owners keep their old/unused devices at home.

 

 

Future Trends in the UK Green Technology and Sustainability Market

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.

 

Our UK Technology and Sustainability Market Report Helps You to Quickly Understand

  • Launches in the sustainable technology market.
  • Purchases of refurbished technology and channel of purchase.
  • Covers what people usually do with their old/unused technology.
  • Attitudes towards buying sustainable technology.
  • Covers green technology and sustainability market size and share.

Covered in this Report

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.

 

Expert Analysis from a Specialist in the Field

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.”

Zach Emmanuel - Research AnalystZach Emmanuel
Consumer Technology Analyst

Table of Contents

  1. Overview

    • What you need to know
    • Key issues covered in this Report
    • Market context
    • Products covered in this Report
  2. Executive Summary

    • Five-year outlook for sustainability in consumer technology devices
      • Figure 1: Category outlook for sustainability in consumer technology devices, 2022-26
    • The market
    • Inflation provides added motivation to buy refurbished technology
    • COVID-19 has furthered environmental concerns
    • Companies and brands
    • Urbanista releases solar charging headphones
    • Microsoft uses ocean plastic in computer mouse
    • Samsung uses fish nets for parts of Galaxy S22 and S Pen
    • The consumer
    • Pitch refurbished technology as devices for those who do not need the latest product
      • Figure 2: Type of refurbished technology owned, 2022
    • Online retailers will appeal to Generation X with entry-level refurbished devices
      • Figure 3: Source of purchase for refurbished technology, 2022
    • Examples of quality for refurbished products are particularly important for higher-end devices
      • Figure 4: Barriers to buying refurbished technology, 2022
    • Refurbished wristbands will appeal to environmentally focused smartwatch owners
      • Figure 5: Type of refurbished technology that would be of interest, 2022
    • Promoting collection services will improve recycling knowledge
      • Figure 6: Use of technology after finishing with it, 2022
    • Setting an example over transparency with environmental impact
    • Remove non-essential accessories from technology packaging
    • Offer at least one product built with sustainable materials
      • Figure 7: Attitudes towards recycling, accessories and sustainable materials with technology, 2022
  3. Issues and Insights

    • Gap in knowledge about recycling can be addressed by promoting collection services
    • Technology companies need to have at least one sustainable product in their line-up
    • Businesses have an opportunity to set an example over sustainability transparency
  4. Market Drivers

    • Five-year outlook for sustainability in consumer technology devices
      • Figure 9: Category outlook for sustainability in consumer technology devices, 2022-26
    • The conflict in Ukraine will hurt the UK economy
    • Consumers’ financial wellbeing has slipped from its recent high point
      • Figure 10: Household financial wellbeing index, 2016-22
    • Reduction in financial confidence linked to drop in intent to get new technology
      • Figure 11: Intent to buy technology in the next 3 months, 2021 and 2022
    • Refurbished technology can appeal as a cheaper alternative
    • COVID-19 crisis has furthered people’s environmental concerns
    • musicMagpie and Asda develop sustainability partnership
    • Sustainability could be at risk with consumers buying products for the metaverse
    • Using virtual experiences to highlight environmental impact
  5. Regulatory and Legislative Changes

    • UK government introduces Ecodesign and Energy Labelling regulation
  6. Launch Activity and Innovation

    • Urbanista releases solar charging headphones
    • House of Marley announces truly wireless earbuds made from bamboo
    • Apple highlights 2021 environmental innovations and achievements
    • Microsoft uses ocean plastic in computer mouse
    • Samsung increases software updates to five years for latest Galaxy devices
    • Samsung uses fish nets for parts of Galaxy S22 and S Pen
  7. Ownership of Refurbished Technology

    • Balancing out advertising focus so consumers don’t only consider smartphones when making sustainable choices
    • Pitch refurbished technology as devices for those who do not need the latest products
      • Figure 12: Type of refurbished technology owned, 2022
  8. Purchase Location for Refurbished Technology

    • Utilising supermarkets could provide a boost to in-store purchases of refurbished technology
      • Figure 13: Source of purchase for refurbished technology, 2022
    • Target gaming audience with refurbished technology
      • Figure 14: Source of purchase for refurbished technology with portable console owners, 2022
    • Online retailers will appeal to Generation X with entry-level refurbished devices
      • Figure 15: Source of purchase for refurbished technology for Generation X, 2022
  9. Reasons against Buying Refurbished Technology

    • Examples of quality for refurbished products are particularly important for higher-end devices
    • Presenting estimates on longevity would also ease some concerns
      • Figure 16: Barriers to buying refurbished technology, 2022
    • Building trust for potential customers
      • Figure 17: Barriers to buying refurbished technology for Generation Z, 2022
  10. Interest in Buying Refurbished Technology

    • Younger Millennials have above-average interest in a variety of refurbished devices
      • Figure 18: Type of refurbished technology that would be of interest, 2022
      • Figure 19: Type of technology that would be of interest for Younger Millennials, 2022
    • Refurbished wristbands will appeal to environmentally focused smartwatch owners
      • Figure 20: Type of refurbished technology that would be of interest for smartwatch owners, 2022
  11. Use of Technology after Needing It

    • Promoting collection services will improve recycling knowledge
      • Figure 21: Use of technology after finishing with it, 2022
      • Figure 22: Knowing how to recycle technology, 2022
  12. Attitudes towards Sustainability in Technology

    • Setting an example with transparency over environmental impact
      • Figure 23: Attitudes towards technology companies’ information on environmental impact, 2022
    • Remove non-essential accessories from technology packaging
    • Offer at least one product built with sustainability in mind
      • Figure 24: Attitudes towards accessories and products built from sustainable materials, 2022
      • Figure 25: Paying more for a sustainable technology product, by generation, 2022
  13. Appendix – Data Sources, Abbreviations and Supporting Information

    • Abbreviations
    • Consumer research methodology

About the report

This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.

Market

Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.

Consumer

Mintel’s proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.

Brand/Company

Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.

Data

Market reports provide appendices of data to support the research and insight produced. Our databooks* are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.

*databooks not available with UK B2B Industry reports.

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