The general environment is constantly changing. New trends frequently come into play and change the macroeconomic 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 general environment through the lens of five key areas, including: political, economic, social, technological, environmental and legal. Breaking down these factors in this way shows how these areas can impact business strategies as well as entire industries. Say no to plagiarism. Get a custom essay on “Why Violent Video Games Should Not Be Banned”?Get the original essay The current landscape of the American economy is centered on positive growth. Unemployment and inflation remain very low, which has helped spur a sharp increase in consumer spending as well as confidence. U.S. GDP per capita has increased every year since 2009, and this trend is expected to continue in the future. At the same time, inflation currently stands at 2.7% and Statista expects this level to fall for consecutive years until around 2021. Steady increases in per capita income coupled with lower inflation levels provide consumers with greater disposable income and purchasing power. . This has a direct negative impact on the industry, as the typical buyer with additional discretionary income is much more likely to purchase a new product to replace one that is performing poorly, instead of putting in the necessary time and effort to repair the damaged product. Technology has always been one of the main drivers of the American economy. However, in today's society, this practice has become more prevalent than ever. As technological innovations develop, their impact on the general environment broadens. With the constant evolution of technology, the components used to manufacture various electronic items are becoming increasingly rare, difficult to produce and expensive. A specific example of this is the OLED screen and display of Apple's iPhone X. Apple was buying the OLED part at a very high price from Samsung which, until recently, was the only company capable of manufacturing it. This poses a significant problem for the consumer electronics and repair industry because their main benefit to the consumer is being able to repair the phone at a significantly reduced price compared to the cost of purchasing a new phone . If a retailer like Apple, which has much greater purchasing power, is unable to obtain the parts at a lower price, the repair industry will have a very difficult time offering these products for various repairs at a price that makes sense for the end user. . However, this problem can be slightly resolved, because with more advanced parts, repairs become more complex and the chances of consumers attempting to repair the products themselves decrease. Additionally, technology has a negative impact on the industry through the emergence of multi-use products. IBISWorld gives a specific example: “For example, the mobile phone market has become dominated by devices integrating voice, Internet, music and multimedia communication technologies. “This is just one example of a product combining several uses; however, the market is moving in this direction for all products as consumers continue to demand centralization. This trend poses a direct threat to the repair industry, as.