The Importance of Wearable Devices

The Importance of Wearable Devices

With the launch of Series 3 Apple Watch in September 2017 and the extraordinary craze for Fitbit wristbands, wearable devices are once again in the limelight. Though Smartwatches are yet not as successful as Smartphones, the journey from desktop to tablets evidently states that the size of devices is shrinking — but not the market or demand. Morgan Stanley, a leading global financial services company, reports that “Wearable Devices are A Potential $1.6 Trillion Dollar Business.”

The success of these wearable gadgets has paced up a revolution where the innovation is not just handy but influencing our lives to the core. People today appreciate devices which blend in with your body and work efficiently.

Wearable technology or wearable devices such as activity trackers, Bluetooth headsets, virtual reality headsets, Bluetooth rings, etc. have given a new dimension to the Internet of Things.

The popularity of wearable devices is increasing day-by-day. Digital watches came into existence in 1972 and today, smartwatches are the most fashionable form of wearable devices. Fitness bands — also incredibly popular — monitor health and focus on fitness by keeping a check on heartbeat, calories, etc. Smart shoes were developed to help visually-challenged people. The launch of Google Glass was itself a revolution. Though hearing aids, Bluetooth headset, etc. have existed, VR headsets took us to the realm of a virtual world.

Wearables are not just for the tech-savvy. It’s also a fashion statement, legitimately. There are jackets with earphones attached to the collar, neckties with a hidden camera and earrings with the microphone. Sony has even filed a patent for a SmartWig embedded with a variety of sensors which is capable of communicating with smartphones. The SmartWig also features built-in GPS, ultrasound transducers that vibrate when obstacles are approaching. The wig also comes with integrated lasers for remote PowerPoint presentations. (That’s not even a joke.) Nothing seems impossible. NeuroOn is another device that regulates sleep and works wonder for jetlag.

These devices are changing our world.

Which heart patient would not love to wear a gym vest which is comfortable and monitors your health? How easy would it be to watch and regulate blood sugar if something on your finger continually tells you when and when not to have a bit of chocolate or pudding? For those who always wake up late and fail to reach office in time, what if there is a ring that vibrates and gently wakes you up at the right time along with examining the quality of sleep you are getting?

The effect of these devices is going to be extensive, and they are already bringing overwhelming changes to the way we live and think. It’ll change everything. It’s not hype.

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Generally speaking (and it’s hard to generalize about a generation of millions of people, admittedly), millennials are shrewd when spending on some products.

They don’t generally like big-ticket items (car, house) and would prefer to spend on “experience.”

There are maybe 11 million articles online about how to target millennials, and many are based completely on assumption and generic advice.

How do you actually target millennials?

Here are a few potential ideas (promise they won’t be super generic):

– Make them feel that by being your customer, they are part of something bigger.

– Always provide some form of value to them.

– Millennials don’t seek more for less. Remember that.

– Tie your business to a broader social effort/cause.

– Don’t over-complicate what you are offering them. Simplicity can work.

– Include them in the creation process.

– Use influencers, i.e. Instagram celebrities.

– Use mobile videos — and short ones — like crazy.

The coupons issue

According to a survey, 61% of millennials spend more than two hours a week looking for coupons and cost-saving deals while 94% of millennials used coupons in 2017 — as compared to 88% in 2016.

They do look for bargains when in a physical store because they desire value for money — though they are in love with innovation especially when it comes to mobile phones and apps. They can get bored easily and hop from one app to another till they find their preferred deal. They are restless and depend more on online researching than trusting anybody’s words.

Millennials are brand-conscious and doubtful — but certainly will give a try to something new or some new brand if it looks promising and comes along with a good coupon opportunity. Moreover, if your brand is up to the mark as per our selective millennial, you earn not just dollars and trust, but a repeat customer.