A survey of 1000 UK adults, carried out in May 2018^, showed that the main reason people upgrade their smartphone is due to the embarrassment of having an older handset, rather than the desire to have the latest tech.
Despite mobile technology drastically improving in recent years, the survey, by Satsuma Loans, revealed that 63% of respondents would be embarrassed if their peers saw them using a handset that was more than a couple of years old, and this would impact their decision to upgrade more than their desire to have new features.
When it comes to which age group feel most embarrassed by their out of date tech, surprisingly more respondents aged 45-54 admitted to feeling embarrassed by their phone than any other age group.
According to the study, the top five reasons for upgrading are:
Embarrassment of using an old handset (63%)
Peer pressure to fit in with others (59%)
Desire to always have the latest tech (51%)
Coming to the end of a phone contract (43%)
Desire to have a specific new feature (27%)
Looking at how often people involved in the study upgrade their phone, the majority (61%) upgrade each time they reach the end of their current contact, however 14% admitted they try to upgrade every six months – spending over £1000 a year on their mobile phone handset.
At the other end of the scale, one in ten adults surveyed stated that they believe smartphones are a waste of money and are happy with a basic handset. As well as the initial cost of the phone handset and monthly contract payments, there are also a number of hidden costs associated with owning a smartphone. Hidden costs to consider are:
- Insurance – insurance for top of the range phones can be as high as £14.99 per month
- Cases, covers and screen protectors – without them you could be looking at a hefty bill for fixing a smashed handset after an accident
- Cloud storage and backups – if you don’t back up you risk losing all of your precious photos and videos if you lose or damage your handset
- Anti-virus protection – even the most tech-savvy can be caught out by malware
If you’d like to find out more about the real cost of a smartphone visit: https://www.satsumaloans.co.uk/tools-and-tips/the-total-cost-of-owning-a-smartphone