The overall environment is continually evolving. New trends come into play frequently and change the macro-level landscape for better or worse. What becomes relevant are the specific types of trends that occur and who is affected by them. A PESTEL analysis takes a more detailed approach and examines the overall environment through the lens of five key areas which include; political, economic, social, technological, environmental and legal. Breaking down these factors in this way shows how these areas can impact business strategies and entire industries. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay The current landscape of the US economy is centered on positive growth. Unemployment and inflation remain significantly low, which has helped spur a sharp increase in consumer spending and confidence. US GDP per capita has seen a year-over-year increase every year since 2009, and that trend is expected to continue into the future. At the same time, inflation is currently at 2.7%, and Statista expects it to decline to that level for consecutive years until around 2021. Steady increases in per capita income coupled with lower levels of inflation provide consumers with more disposable income and purchasing power. . This has a direct negative impact on the industry because the typical buyer with additional discretionary income is much more likely to go and purchase a new product to replace the dysfunctional one instead of spending the time and effort needed to repair the damaged product. Technology has always been a major driver of the United States economy. However, in today's society, it has become more prevalent than ever. As technological innovations expand, the impact on the overall environment expands. With the constant advancement of technology, the components used to make various electronic items are becoming increasingly rare, difficult to produce and expensive. The OLED screen and display of Apple's iPhone Apple purchased the OLED component at a high price from Samsung, which until recently was the only company capable of producing it. This presents a significant problem for the consumer electronics and repair industry because the primary benefit to the consumer is the ability to repair the phone at a significant discount compared to the cost of purchasing a new one. If a retailer like Apple, which possesses significantly greater purchasing power, is unable to secure components at a lower price, the repair industry will have a difficult time attempting to carry these products for various repairs at a price that has meaning for the end user. . However, this problem can be counteracted slightly because with more advanced parts, repairs become more complex and the chances of consumers attempting to repair products themselves decrease. Furthermore, technology is negatively impacting the industry through the emergence of products with multiple uses. IBISWorld provides a specific example: “For example, the mobile phone market has become dominated by devices that integrate voice, Internet, music and media technologies. ” This is just one example of a product that combines multiple uses; however, the market is trending this way for all products as consumers continue to demand centralization. This trend poses a direct threat to the repair industry because single-use devices becoming increasingly obsolete mean fewer products need to be repaired overall. This in turn has an impact.