The economic downturn has caused consumers to keep a closer watch on their money. Much of the technological revolution, especially since the late 1990’s, was predicated on the fact that consumers were willing to shell out large sums for the latest and greatest in IT. For consumers deciding which bills they can allow to slip past due and which they can’t, shelling out large amounts of money for new computers and software seems a less than wise use of money. To stay competitive, IT companies are going to have to learn to deal with a new reality: A society where saving is looked upon more favorably than spending.

The personal computer has always been marketed as a technological marvel that allows people to entertain themselves in myriad ways. Even operating systems, before the downturn, were touting their integration with various forms of multi-media. These features, while oftentimes very innovative, are the type of things that leave frugal consumers flat. After all, if one is facing a possible foreclosure, being able to play Blu-ray on one’s computer seems downright pointless.

Marketing IT products as durable, long lasting and designed to serve for many years may be the new road to success for technology companies. If people are inclined to buy in ways that allow them to save money, technology that is certain to be outdated in 12 months is not likely to persuade them to pull out their credit cards. In the new economy, “gee-whiz” factor runs a serious risk of becoming “so what?” factor.

In the best case scenario, this situation could foster real innovation. Faced with the specter of a consumer base not impressed enough with minor changes in the look, feel or presentation of technology to lay out cash, tech companies will likely have to offer truly better performance and new features to persuade buyers. The same old operating system with a new name and some new widgets is unlikely to send consumers dashing to the local big-box technology store these days.

The free market, however, always creates opportunity, even when the general situation is one of crisis. If there was ever a time where innovation that makes technology more useful and durable, rather than simply entertaining, was in a position to thrive that time is now. Hard times just may have opened the door for someone with a different take on technology.

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