Inflation drives UK parents to consider preowned technology for back-to-school needs

A recent survey conducted by ecoATM Gazelle, a company involved in mobile device re-commerce, has revealed that a significant portion of parents in the UK are turning to preowned or refurbished technology as they prepare their children for the upcoming school year. 

The survey, which included 1,000 parents of children aged 8 to 18, highlighted the financial challenges parents face in providing necessary technology for their children’s education, challenges that have been exacerbated by the ongoing impact of inflation.

The findings highlighted the growing importance of technology in both school and social environments. A majority of parents (67%) acknowledged that technology is essential for accessing classwork, completing homework, and utilising educational resources such as artificial intelligence. 56% of respondents emphasised the importance of their children being technology-literate in today’s digital world.

However, the cost of acquiring and maintaining up-to-date technology remains a significant challenge. Over half of the parents surveyed (55%) reported having gone into credit card debt, used payment plans, or borrowed money from friends or family to purchase new technology for their children.

The survey found that a large number of parents are replacing their children's technology on a regular basis. Approximately 66% of parents consider buying new technology for their children at least once a year, with 49% doing so annually. The frequency of these purchases varies by income level, with 77% of high-income parents buying technology at least once a year compared to 57% of lower-income parents, highlighting the financial disparities in technology accessibility.

Shift Towards Affordable Alternatives

With the cost of new technology devices becoming a growing concern, many parents are exploring more affordable options. The survey revealed that 41% of respondents are now more interested in low-cost brands or deals for technology devices, driven by inflationary pressures. Additionally, 54% of parents indicated the need for financial assistance to purchase these necessary devices.

Nearly half (49.4%) of the parents surveyed are opting out of buying new technology devices altogether due to their high costs. This trend is leading more parents to consider purchasing preowned or refurbished devices as a viable alternative.

Stan Pavlovsky, CEO of ecoATM Gazelle, emphasised the importance of making technology accessible: 

“With technology being a must-have in today’s learning environment, parents want to make sure that their children are equipped with devices that can help them achieve their goals. As a father, I share these concerns and believe that parents should have accessible technology and not have to decide between buying a quality tablet or phone for their child’s success in school or paying for groceries.”