Top 5 reasons for gadget buyer’s remorse

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Electronic gadgets

Typical gadget purchases.

Nothing compares to the excitement of getting a brand new gadget home. But, when you get it out of the box, have you ever regretted buying it?

New research from Debt Advisory Centre shows that the majority of people in the UK (82%) have experienced buyer’s remorse – and 20% of them have regretted buying gadgets (that’s just over 8 million people!).

Gadgets can be a big commitment – so if you regret buying them it can feel awful. That’s why Debt Advisory Centre has looked at the top 5 causes of ‘gadget buyer’s remorse’, and suggested a few ways they could be avoided.

1. I didn’t really need it (38%)

Many of us have been guilty of this at some point or another. It can be so easy to get caught up in the excitement when a new gadget comes out – and we feel like we just have to have one of our own. However, in the end, we realise that we didn’t actually need it at all.

One of the best ways to avoid this is to delay your purchase – by a week, a month or perhaps even longer. It might take some determination, but after the time has passed you might have a better idea of whether you actually wanted the gadget in the first place. Plus, if you wait a month or two, the cost might go down too.

2. I couldn’t really afford it (21%)

21% of people with gadget buyer’s remorse regretted their purchase because of the cost. That’s equivalent to 1.7 million people across the UK! And it’s true: gadgets can be very expensive, especially if they’re brand new.

Buying something that’s a bit too expensive is one thing – but getting into debt because of it is quite another. At Debt Advisory Centre, we’ve found that overspending is one of the main reasons people get in touch with us. We hear situations like this every day, along with the other causes of debt like job loss, divorce and other changes in financial situation. Whatever the reason, if you’re struggling with your debts it’s important to get help as soon as possible. A debt adviser could assess your circumstances and suggest an appropriate solution.

If you’re hankering after a gadget you can’t really afford (and you’re sure you actually need it), well: patience is a virtue. Wait it out, and you might find that the price drops significantly – or you might be able to find it much cheaper second-hand.

3. It was poor quality or broken (17%)

If you get your gadget out of the box and it doesn’t work properly, or it’s visibly broken, you should be entitled to return it and get a full refund. If it’s not quite as good as you were expecting (for example, if it’s a bit shoddy or flimsy) you should be able to return it, citing that it’s not suitable for your needs.

Surprisingly, only 7% of gadget-buyers who regretted their purchase actually returned it. Always check retailers’ returns policy before you buy anything from them.

4. I rarely or never use it (15%)

One day, your gadget can be your favourite possession, and never out of your hand. Then, a few months down the line, it can be in a cupboard – forgotten.

In this case, you may not be able to return it to the retailer (as you may have had the item for too long). So you could take an example from our respondents, who sold their item on (21%) or gave it away (6%). Have a look on eBay or similar sites to see how much other people are selling your item for. It’s worth at least getting some of the money you paid back.

5. I didn’t like it (10%)

It’s reassuring to see that ‘didn’t like it’ is the least popular reason for regretting gadget purchases. Gadget-buyers clearly do their research to see whether a gadget is right for them before they buy it.

However, if it does turn out that you don’t like it – don’t just keep it (like a whopping 66% of our respondents did). Act quickly and you can return it.

Is remote working the future for business?

In previous articles I have talked about how technology and business interact, and what the future of technology might hold for the world of business. In this article I am going to explore the idea that in the future, almost all business will be conducted remotely.

The number of people who permanently work at home in the UK, (known as teleworking) was estimated to be 1.3 million in 2010. The working population of the UK at the same time is believed to be around 30 million, therefore around 4.5% of the UK’s population (in 2010) were teleworkers. That said, is is estimated at the same time that 3.7 million UK workers sometimes worked from home, and sometimes went into their place of work. That means that of the working population, around 12.5% were, at some point, working remotely.

The figures are similar for the USA, and other developed nations. More and more firms around the world, are offering their employees the opportunity of working from home, but why?

Cost Advantages

Many people do not realise it, but it is often much cheaper to give employees access to the technology they need to work at home, than it is is to provide them with a workstation in an office unit. Yes that might mean you need to buy every employee a laptop, printer and make sure they have an internet connection, however that is often much cheaper than maintaining a workstation, in a fixed location.

If employees work in an office, then the firm either has to purchase or rent the premises – this can be very costly. Furthermore, an (often very expensive) IT mainframe system needs to be in place, to ensure that the entire building is connected internally, and with the outside world – including offices in other locations. Most employees will need a computer to work at, so why not buy them a laptop, give them their own printer, make sure they are internet connected, and tell them to work from home? It is often much cheaper.

Technological Advancements

Improvements in technology mean that working from home is more viable than ever before. Thanks to online storage systems, which allow simple, easy and effective file sharing among workers, employees are able to connect with each other, and share data from almost anywhere in the world. Outsourcing such tasks is often a much cheaper option for firms, than maintaining their own expensive IT infrastructure.

Advancements in communication technologies have also improved the viability of teleworking. I have previously wrote about QB Robots, robots which are effectively your eyes and ears in the office, which you can remotely control, whilst you are not in the office. These sort of devices mean that you can still connect with other workers, almost as if you were there in the room with them.

Anybots QB Robot

The head of one of Anybots QB robots – notice the webcam eyes and screen inbuilt into the head – such robots can improve the potential for remote working

You don’t necessarily need a QB robot to stay in communication with others though. Technologies like webcams, and VoIP mean that it is really easy to stay in contact, and in the loop, so you are just as up to date, as you would be, were you in the office.

Service Improvement Through Better Access

Technology has made it easier to work remotely, and it is often cheaper, but another advantage of teleworking, and a reason which I believe will be one which causes further growth in the industry, is the improvements in accessibility that teleworking offers.

In his recent article ‘Five changes in video conferencing for the next decade‘ Rashed wrote about how improvements in connectivity could improve the prospects for services like telemedicine. Being able to connect to people remotely, means that those who live/work in more remote areas, are more likely to be able to become connected.

Improvements in Productivity

Many studies have shown that working from home can actually boost productivity and reduce the time employees take off ill.

British Telecom claims that its teleworkers save it an average of £6,000 per year (per worker) due to the reduction in the costs of having to provide a workstation, the reduction in commuting costs, and through the increases in productivity. BT claims that its teleworkers are 20% more productive and take fewer sick days. This is probably due to the reduced stress associated with working at home, due to employees not needing to deal with the hassles of commuting, and the occasional hassles presented by co-workers, arguments and misunderstandings can cause stress!

In addition to this, the less time employees spend commuting, the more time they have to themselves, and the more time they can spend working. Say an employee spends an hour and a half commuting each day (two 45 minute journeys) then they could spend an  get an extra 45 minutes working, and get an extra 45 minutes to themselves.

In Summary

To conclude, working remotely is often a much cheaper option for both firms and employees, it has been made more viable thanks to technological improvements, it can improve the services that a firm can offer, and also improve the productivity of the workforce. These are some of the reasons, why I believe teleworking will become much more common in the future.

How to Improve Your Business Using Technology

In today’s day and age, you will very rarely find a business owner sitting on their laurels and simply allowing their business to move from one day to the next without change. With the current unsteady financial climate, most should be doing their utmost to move their business forward in order to attract and secure enough new customs to stay afloat. One of the many ways in which this can be achieved is to invest in the latest technology for your particular field of business.

Whilst this may seem a daunting prospect both in terms of a lack of technological experience and a strain on already limited finances, the advantages of making the investment could be profound. No matter what industry you find yourself in, there is almost certainly going to be a form of technology at your disposal – whether this be a specific system, programme or piece of equipment – that can have a positive effect on the way in which your business is run.

For instance, a retail setting that is behind the times in terms of technology could definitely benefit from the introduction of point of sale and EPOS software to make payment transactions swifter and stock counting easier. Although the transition from traditional ways to modern alternatives may be unnerving, if you are able to keep track on the amount of stock you have on the shelves whilst making payment at the tills quicker, this could have long-term financial benefits.

In an office environment, a large number of computers has now become the norm. In the world of computer technology, new system updates and program developments are common place so ensuring that your business stays up to date with such regular changes can be a struggle. However, by investing in professional help, you may then be able to divert your attention away from this area to concentrate on other pressing matters, safe in the knowledge that everything is being taken care of on your behalf.

IT support cartoon

Professional tech support could help prevent employees from needing their own!

Whether you decide to develop an in-house team to offer support when it comes to your IT systems, or decide that outsourcing will be a more cost-effective option, having one individual or a team of technologically savvy employees who are aware of technical changes that could influence the performance of your business will give you an advantage over your competitors.

It is no secret that attracting new custom can be a struggle and with many consumers now using the internet to find local services, ensuring you have a fully functional website and an online presence is more important than ever. Attractive website design coupled with an SEO campaign to get your business ranking in the search engines for particular terms related to what you offer could make all the difference and give your company the edge when attracting new customers.

Although the current financial climate leaves many businesses in a perilous position, it is clear to see that with an investment in new technology, things may well turn around. From developing a fresh and invigorating website through to purchasing the latest equipment and calling upon professionals to offer assistance, you and your business could see a turn in fortunes that leaves you in a far more stable position.