The rapid evolution of technology, shows no sign of slowing down. With potentially groundbreaking changes in AI and personal devices like the Apple Vision Pro, marking this as a significant era of innovation and connectivity. Production constraints are also easing, so consumers have access to an unprecedented array of devices, creating a landscape ripe for exploration and integration into daily life. Grover's rental insights snapshot aims to shed some light on the consumer tech space, highlighting consumer trends and the potential for more sustainable consumption practices in the digital age.
Changing device preferences
Grover's 2023 subscriptions reflect shifting consumer preferences, with a slight decline in personal device rentals offset by growth in gaming, household devices, e-mobility, and seasonal tech like cameras. This trend may align with consumers holding onto devices for longer periods, particularly evident in smartphones, where average replacement times are predicted to stretch to nearly 30 months. Despite this, Grover saw consistent demand for smartphones, although rental periods slightly decreased, possibly indicating a desire for flexibility.
More than 50% of Grover rentals came from these 3 categories:
Gaming emerged as a strong growth area, mirroring global trends with an increasing number of gamers worldwide. Console and accessory rentals surged, reflecting a burgeoning interest in gaming technology. Home devices and e-mobility also experienced significant growth, reflecting broader cultural shifts towards connected living and sustainable transportation alternatives.
Accessing and using technology
Central to Grover's mission is enabling access to technology, with a quarter of customers indicating they wouldn't have been able to obtain products without Grover's services. Subscription lengths varied across device categories, with staple items like appliances and bikes typically rented for longer periods, while seasonal items like action cams and drones saw shorter rental durations.
Categories with short subscription times:
Categories with long subscription times:
Sustainability
While technology offers vast possibilities, it also contributes to increasing electronic waste. Consumers are increasingly prioritizing sustainability in their purchasing decisions, with Grover's model of refurbishing and recirculating devices offering a potential solution to mitigate e-waste. By facilitating multiple rental cycles and repairs, Grover estimates it has prevented 405 tons of e-waste, underscoring the potential positive impact of a circular tech rental model.
