Americans are holding onto devices longer than ever before, and while it may be consumer smart, it comes at a cost to work productivity and the U.S. economy.

The average American now holds onto their smartphone for 29 months, according to a recent survey by Reviews.org, and that cycle is getting longer. The average was around 22 months in 2016.

While squeezing as much life out of your device as possible may save money in the short run, especially amid widespread fears about the strength of the consumer and job market, it might cost the economy in the long run, especially when device hoarding occurs at the level of corporations.

  • Kwakigra@beehaw.org
    12·
    9 hours ago

    The nerve of CNBC to use the word “hoarding” and and not mention the actual cause of the problem being the declining wealth of the median household relative to wealth hoarders.