Passing Fad or Cool Nerdy? COLLOQUY Research Shows 63% of U.S. Consumers Wary of Wearable Prices, 27% Say Wearables Make Shopping More Fun

A Parable About Wearables

CINCINNATI–(BUSINESS WIRE)–A COLLOQUY nationwide survey of 1,060 American consumers shows that 63%
say wearable devices are too expensive. Just over one out of every two
Americans, 52%, say they don’t know enough about wearables and don’t
understand them.

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

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

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

Key wearable variables:

  • 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.

“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 COLLOQUY’s 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% 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.

The COLLOQUY survey results are based on an online survey taken in
February 2016 of 1,060 American consumers. The margin of error is +/- 4%
at the 95% confidence level.

About COLLOQUY:

Now in its 26th year, COLLOQUY is a leading publishing, education and
research practice, bringing together loyalty practitioners from around
the world. A pioneer in the industry, COLLOQUY is the first publication
dedicated expressly to the art and science of loyalty marketing and has
since become the go-to resource for loyalty intelligence. Today COLLOQUY
engages and educates loyalty marketers with its magazine, e-newsletter
and timely and comprehensive loyalty-marketing website, colloquy.com.
COLLOQUY delivers industry-leading loyalty benchmarking reports and
educational workshops, webinars and speeches. Advertising, sponsorship
and publishing opportunities are available via the COLLOQUY Network, a
global partnership of loyalty service providers. COLLOQUY is an
independently operated division of LoyaltyOne.
To learn more, visit colloquy.com.

Contacts

For COLLOQUY
Tim Sansbury, 513-231-5115
Tim@Forza-Marketing.com
or
Laura
Arnold, 513-231-5115
Larnold@Forza-Marketing.com