08/08/2024 | Press release | Distributed by Public on 08/08/2024 03:41
Today, every aspect of health is measurable, from BMI to step count to sleep. These metrics are primarily accessible through wearable tech like Virtual Reality (VR) and Augmented Reality (AR) devices and smartwatches and jewelry that use biometric technology to transmit data to your smartphone.
Wearable technology, however, extends beyond health tracking. Devices like smartwatches now allow consumers to take calls, view and send messages, and consume content, all on a device attached to their bodies. This multifunctionality signifies a shift in consumer behavior, presenting vast opportunities for e-commerce businesses.
Devices like Fitbit and Apple Watch have become increasingly popular over the last few years. By 2027, wearable tech is expected to grow to be a $111 billion industry. It had already reached almost $33 billion in 2022.
Although purchasing directly from wearable devices is not yet widespread, it is only a matter of time before this becomes a common practice. Brands should begin leveraging wearables as an additional touchpoint to understand their customers better and build brand recognition and loyalty.
Industry innovators like Garmin and Oura Ring are pushing the boundaries of both fashion and technology, making it possible to have a high-functioning piece of tech that consumers want to wear.
Data from Statistaindicates that watches and earwear (i.e. Apple Airpods, Shokz) are the highest revenue drivers in the industry. In 2024, around 350 billion units of smart-earwear are forecasted to be delivered, and smartwatch sales are expected to reach almost $50 billion.
Each piece of tech is primarily targeted to a specific demographic - for example, Google Glass would be more successful among a more tech-forward audience, while the Bellabeat Leaf is geared more towards providing health data for women.
Wearable technology is revolutionizing the e-commerce landscape by creating more connection points between brands and consumers, ultimately increasing the likelihood of sales. Here's how:
By leveraging wearable technology, e-commerce brands can enhance customer engagement, personalize interactions, and drive sales more effectively.
By leveraging wearable technology, e-commerce brands can enhance customer engagement, personalize interactions, and drive sales more effectively. The ability to capture your ideal customer's attention through wearable tech is rapidly increasing, though integrating your products with this technology can be challenging.
The Nogin team is here to help. We offer the expertise you need to adapt to changing consumer behavior and bring your brand closer to your customers than ever before.
Ready to discover the customized solution that will supercharge your e-commerce business? Set up a free, zero-obligation consultationtoday to learn more!