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A Parable About Wearables

A COLLOQUY nationwide survey of 1,060 American consumers shows that 63 percent say wearable devices are too expensive. Just over one out of every two Americans, 52 percent, say they dont know enough about wearables and dont understand them.

On the other hand, 35 percent of consumers said wearable technology is nerdy, but cool nerdy. In a stat that retailers undoubtedly will embrace, one in four Americans, 27 percent, said they used to hate shopping but with my wearable I love it. And just 8 percent said wearable devices are uncomfortable.

Wearables consist of clothing or accessories that integrate technology into consumers everyday lives in fun and practical ways. Whether its fitness trackers, eyewear, smart jewelry, a dress that posts to social networks or shorts that upload workout stats, its fair to say that Americans are still shopping.

Consumers are guessing whether prices will go down, and wondering if theyre ahead of, or behind, the fashion curve. Theyre still doing their research. Some are concerned about age appropriateness.

Key wearable variables:

  • 33 percent said wearables make a fashion forward statement.
  • 41 percent said Id be more likely to place a wearable on my pet than on myself.
  • 36 percent said wearables are a passing fad.
  • 58 percent said Id like to use a wearable device but Im too old.
  • 35 percent said people who use wearable devices are just trying to show off.

Wearables work on several levels for retailers. Keep it fun. Keep it dynamic and court the mighty millennials, COLLOQUY Research Director Jeff Berry said. Retailers should consider sending one-to-one, targeted offers to shoppers wearable devices, including on-the-fly pricing adjustments based on inventory and even time of day.

Significant findings from COLLOQUYs nationwide survey about wearables are depicted in a downloadable infographic featured on the COLLOQUY website. The infographic, which is accessible free of charge, became available online on March 30. COLLOQUY, operated by LoyaltyOne, is a leading provider of loyalty marketing research, publishing and education.

Additional survey results show that consumers registered only modest concerns about the functionality of wearables:

  • 9 percent said wearable devices have to be charged too often.
  • 6 percent said wearables are not compatible with other devices.
  • 4 percent said wearables have slower processing times than other devices.

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