The world technology keeps on advancing and people adapt to these advancements easily. According to Everette Rogers, almost 13.5% of the United States population qualifies as early adapters. Every year, new advancements in technology are introduced and upgrades to existing products are made. Technological advancements have made it hard for people to decide when the right time to buy is, especially those who have saved up for devices with the latest technological advancement.
Cost of New Technologies
The cost of new technologies is cheap compared to old technologies. Why? This is because new technologies tend to become obsolete in a short period of time. In terms of game consoles like the Xbox 360 and Atari, Xbox 360 is more advanced compared to previous, but it’s cheaper than the cost of Atari. Despite the upgrades made to Xbox 360, its cost still decreases as the supply is overwhelming.
The same thing goes for mobile phones, MP3 players, television sets, personal computers, desktop Mac, tablet computer and eBook reader. The old technologies tend to become more expensive compared to their counterparts equipped with new features and advancements. Therefore, it becomes easier for people to adapt to new technologies and make their life easier than before.
When is the Right Time to Buy?
The cost of early adoption has made it tough for consumers to decide when the right time to buy electronic items is. Perhaps, most users avoid buying new technologies that will become obsolete after six months.
The best time to buy a new technology is a few months after its initial release. This allows manufacturers to make any recalls on the product cost, make updates and other essential fixes so that consumers need to worry about the product getting obsolete after a few months. However, easy adopters often pay the cost of new technology in cash and quality. They adapt the technology once it was released so that they will be the first in line. Waiting too long to buy the product will make you miss a new technology that can make your life more convenient.
The road of technology is bumpy as there’s always a change and improvement. There are people who prefer to purchase a product before its price cuts off and misses the new price of new software, operating system, etc. If you wait for too long for a price cut off or to buy a new technology, you will buy nothing. Why? Because there’s always something better and less expensive electronics that will subside on the horizon.
Rapid adoption of people to technology occurs after six months after a technology is released and one month after newer technology is released. Probably, the best time to buy a new technology is five months after new technologies are released so that you still have time to use it. Once it’s obsolete, you can always buy its counterparts with upgraded features and cheaper than the previous.
Adoption to new technologies starts slow because when they are first introduced, they are expensive, imperfect and users are unfamiliar to it.