Certain products and appliances of today aren't showing the longevity of the same products of the past.
You could hear a lot of stories about how someone's dishwasher, refrigerator or other kitchen appliance was lasting them more than a decade or maybe even a few decades, but once they switched to the newest product, the years were catching up to the latest things.
The term 'planned obsolescence' may get used, meaning a product is designed to have an artificially limited useful life. Companies would want to make sure they can get people to come back to buy their newer products once the old ones go bad or stop working.
James Crean, president of CREAN, a Texas-based innovation company, believes that the market is showing people always want the latest and coolest piece of technology too.
"The market actually looks for products that are up to date on technology and other features," he said.
iPhones for example have always seen a draw from the consumer because the new phones always feature the great, new technology and cool features that people like to have. Same goes for new cars.
People may not necessarily want to keep a certain product for as long as they did in the past too. Basically, it just comes down to someone's preference. However, the cost of just about everything is up way more than decades ago and even just a few years ago.
"People don't want to pay more as it takes higher quality parts for an appliance to last longer," Crean said. "The world has evolved and a lot of these things are made overseas."
Crean believes the manufacturing sector can produce things just as efficiently in the U.S. as opposed to overseas, even though a lot of companies have made the decision to produce their products elsewhere.
Certain regulations and mandates recently put in place have made it harder on the manufacturer and the consumer too. Whether it be to reduce carbon emissions, conserve energy or just be more "environmentally-friendly," the way things are made and how much of them are being made has changed.