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Study: Wearable technology – hype or hope?

7/19/2016

Wearable technology has a way to go before it becomes mainstream, but perhaps not as far as some observers think.



According to a new study of more than 1,000 U.S. consumers from loyalty intelligence provider Colloquy, “Weighing in on Wearables,” retailers looking to open a wearable commerce channel need to change some widely held consumer perceptions. For example, 63% of respondents said they would be deterred from purchasing a wearable device because it is too expensive. And 61% of respondents who would buy a wearable for health and fitness reasons said they are too old for the technology.



Slightly more than half (52%) of respondents said they don’t know enough about wearables or understand how they work. About one in three (32%) have concerns about fraud and/or privacy.



However, in terms of how wearable devices look and feel, consumers are fairly receptive to the emerging technology form. Only 8% of respondents said wearable devices are unattractive or they don’t like how they look. Thirty-five percent said people who use wearables are nerdy, but “cool nerdy,” which presumably is positive. And only 8% said the devices are uncomfortable.



Of particular interest to retailers, 27% of respondents said “I used to hate shopping, but now with my wearable I love it.” Fifteen percent said they look forward to expanding their use of the technology.



Based on these results, Colloquy advises retailers to devise wearable customer engagement strategies that suggest actions customers already want to take and provide triggers to do them at that moment. They should also ensure that customers in every age range feel that they understand wearable devices and are capable of using them.
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