Wearable technology is the next chapter in innovation and will have incredible effects on business and marketing. When smartphones first emerged several years ago, there was without a doubt a monumental change in innovation that affected everyone. Today life is centered around our tech devices. While some may get irritated with how glued people can be to their tech tools there is little doubt that our lives have improved in many ways due to smart devices and the internet of things. Wearable technology is about to create a second wave of innovation and change.
If you have doubts about this, consider that analysts expect wrist based devices alone to account for $14 billion in 2017 and the wearable tech industry to reach a staggering $34 Billion by 2020 [1]. With products like the Apple Watch, Google Glass and now Virtual Reality headsets, technology continues to move forward and evolve and it’s moving into the workplace as well. Retailers are seeing wearable tech used to pay and checkout. Most iPhones now have applications like PayPal or Apple Pay, which are accessible on smart watches, making payment and checkout processes more efficient. Wrist displays or wireless headsets are also helping workers to look up information about products without having to leave the customers side. This all increases customer satisfaction, since they get the information they need as quickly as possible and they’re able to pay and checkout in seconds without taking out a wallet.
People will be safer and more informed. SmartGlasses present tradesmen with hands-free instruction manuals or schematics, improving overall work safety and productivity. There is even a product called the SmartCap — a hat that can monitor and advise a person of his or her level of alertness. Helmets are also being manufactured with smart technology that provides a rear view, camera, Bluetooth, integration with smartphones, GPS and infrared night vision — all within the visor – to give greater safety and information to motorcyclists!
These all provide “touchpoint” opportunities for businesses to market their products and services to wearable tech users. Smartphones already allow us to find information in seconds. Wearable technology allows the user to be constantly connected and informed. With a constant stream of live data available, the marketing opportunities for businesses looking to drive sales through a growing new channel are limitless.
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