Why Chicago appliance repair business is booming as demand for the high-tech devices increases
The demand for high-performance electronic components is growing in cities across the country as new tech-savvy residents and business owners turn to electronic devices as a key part of their daily lives.
The demand has fueled the boom in Chicago, where the city’s market is expected to grow by as much as 14% over the next five years as residents use the devices to access their social media and personal finances, and a growing number of companies offer services that offer free repairs.
The number of businesses that offer repair services in Chicago has grown from about 100 to about 1,000 since the start of 2017, according to a Chicago Business Alliance survey of 1,500 businesses conducted in early December.
The boom is driven in part by the availability of high-speed internet connections and the emergence of new technologies such as high-powered smartphones and tablets that can provide more access to online services, said Tim Pomeranz, the association’s vice president for economic development.
In addition, the popularity of connected devices has encouraged companies to build and expand new services, including high-quality online repair services, he said.
The association surveyed 2,000 of the most popular businesses in Chicago.
It found that in addition to the more than $200 million in annual repairs, the businesses are paying for services that have an average cost of about $5,000 to $10,000 per day.
Most of the businesses have been in business for less than 10 years, said James B. Miller, executive vice president of the association.
But the growth has been rapid, and businesses are adding employees and building new technology facilities to expand their repair capabilities, Miller said.
“We have a lot of technology, a lot more than we did a decade ago,” he said of the market.
“What has been driving the market is people realizing that it’s possible to have more flexibility in how they repair.”
The association also said that the growth of the repair business in Chicago is due in part to the rapid adoption of the iPhone X.
“It has enabled people to go beyond the basic repair tasks and now have a much more sophisticated repair that can be done at a much faster pace than a traditional repair would be,” Miller said, adding that the iPhone’s software has enabled customers to work from anywhere with their devices.
The iPhone X is expected this year to cost consumers about $2,500.
The phone is available in 64- and 128-gigabyte models.
It’s also a great choice for customers looking for an inexpensive solution to their electric bill, Miller added.
The popularity of home automation systems is also increasing in the Chicago market, with more than 2,100 businesses offering online repair, Miller reported.
The rise in the demand for home automation devices is driven by a surge in the number of people who are turning to home automation services as their primary way to access information, and also because people are using technology to stay connected, Miller explained.
More than 10% of the surveyed businesses offer home automation, with a majority of them in areas where home automation has been on the rise, he added.
“This is really about people choosing to be more connected to the things that they use in their everyday lives,” Miller added of the growing number the businesses offer.