Yahoo Finance 7 Products That Are Fading Because People No Longer Waste Money on Them
Whether because of advancements in technology or awareness of the risks associated with use, some products fall by the wayside over time. People move on to other items that meet their needs more efficiently, are healthier or simply cost less. No matter what the reason, the products that are no longer being used tend to fall into the graveyard of obsoletion along with hot trends and one-hit wonders.
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There are many products that people aren’t buying anymore, whether that be because society no longer needed them or because more affordable options were available. Here are seven products that are fading because people no longer waste money on them.
Cigarettes
It is no secret that America had an obsession with cigarettes. Tobacco smoke once filled bars, offices and even airplanes. Today, however, the industry is struggling to compete. According to The Daily Upside, just 1 in 8 people now smoke. Big tobacco companies are seeing sales decline by 5% to 8% every year, and the hemorrhaging isn’t likely to stop anytime soon.
The good news for consumers is that fewer smokers means better health. Smoking tobacco is known to cause cancer, and even secondhand smoke that seeps through walls and vents can be detrimental to a person’s health. Forgoing smoking is also good for the wallet. A pack of cigarettes now costs between $6 and $12, depending on where you live.
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Newspapers
Another product that has seen a substantial drop in purchases is printed newspapers and magazines. The internet and mobile devices have nearly eliminated the need for tangible papers, saving people a substantial amount on delivery fees.
Getting a paper delivered every Sunday could run you $15 or more per month, while the digital version may cost you a fraction of that.
Wristwatches
Wristwatches used to be a status symbol for wealthy businessmen around the world. Today, people are more likely to opt for smartwatches than their traditional counterparts. The convenience of having phone functionality on their wrist is likely the reason for the switch.
In 2020, Forbes wrote about how Apple killed the Swiss watch industry, noting that the Swiss watch industry as a whole has seen a decline. And consumers passing on Swiss watches are saving money too. According to The New York Times, the price of Swiss watches have been steadily increasing.
Photo Albums
You can blame technology for a decline in physical photo albums too. While you may always treasure the baby book your mother made for you with yellowing pictures of a diapered cherub toting a bottle, chances are, if you had kids recently, you don’t have one to pass down to your kids.
The ability to snap a quick photo on your phone has helped to nearly eliminate family photo albums, saving people money on printed pictures. However, there has been a push to resurrect this industry because of the jaw-dropping amount of storage space needed for all those photos on your phone.
Calculators
Stand-alone calculators are, tragically, a dying breed. Unless you are taking calculus or another advanced mathematics class, you probably just grab your cellphone to crunch numbers. There just isn’t a need for a separate device to do the same function.
Simple calculators can run you $10 or more, while more complex ones are much more expensive.
Diet Sodas
Diet soda sales have been on a roller-coaster ride over the last two decades. In 2016, Business Insider noted that the industry had taken a 27% drop over 10 years. Then, lower-sugar sodas saw a resurrection of sorts with the backing of high-powered celebrities like Taylor Swift.
Today, however, may be a different story as health organizations rail against the alternative sweeteners used in these drinks. In 2023, for instance, the World Health Organization listed aspartame as a possible carcinogen, meaning it may increase a person’s risk of developing cancer. Aspartame is frequently used in diet and zero-calorie sodas.
And consumers who are passing on sodas are likely saving money as well. According to the Federal Reserve Bank of St. Louis, over the past five years, the cost of a 12-ounce can of soda in a pack of 12 has increased nearly 70%.
Cable TV Subscriptions
By the 1990s, cable TV was a staple in tens of millions of households across the country. As its popularity increased, so did its price. Cable television, at its height, cost some families a couple of hundred dollars each month. The cost of cable caused many people to join the “cut the cord” movement.
Streaming services capitalized on this revolution in the industry. Today, cable networks continue to see a decline in their audience, with many people favoring less expensive apps or pay-for-what-you-want options. According to CNET, a basic cable and internet package will cost you $144 per month on average, while the basic versions of four streaming services will cost you only $33.
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