Wearables are rapidly increasing in popularity, but not everyone is won over - especially when it comes to price.
This is according to a Colloquy survey, in which 63% of people said wearable devices are too expensive. Just over one out of every two people (52%) say they don’t know enough about wearables and don’t understand them.
On the other hand, 35% of people said wearable technology is nerdy, but ‘cool nerdy’. In a stat that retailers will likely embrace, one in four people (27%) said they ‘used to hate shopping but with my wearable I love it’, and just 8% said wearable devices are uncomfortable, Colloquy says.
Colloquy defines wearables as clothing or accessories that integrate technology into people’s everyday lives in fun and practical ways. This comes in the form as fitness trackers, eyewear, smart jewellery, a dress that posts to social networks or shorts that upload workout stats.
According to the survey, when it comes to wearables people are still highly focused on price and aesthetic.
Some are waiting for prices to go down before making a purchase, some are wondering if they will be behind the fashion curve, and some are concerned about age appropriateness.
Key findings include:
- 33% said wearables make a fashion forward statement.
- 41% said I’d be more likely to place a wearable on my pet than on myself.
- 36% said wearables are a passing fad.
- 58% said I’d like to use a wearable device but I’m too old.
- 35% said people who use wearable devices are just trying to show off.
Additional survey results show that consumers registered only modest concerns about the functionality of wearables:
- 9% said wearable devices have to be charged too often.
- 6% said wearables are not compatible with other devices.
- 4% said wearables have slower processing times than other devices.
Jeff Berry, Colloquy research director, says the brands that will keep people interested will be those who 'keep it fun, and dynamic'. "Court the might millennials," he says.