- Marketing Research
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Our research shows that marketers and app-developers better refrain from investing too much in the wearable device: unless they serve a niche market.
In September 2014, Apple announced its first entirely new product since the death of Steve Jobs, its founder. The Apple Watch, which went on sale a month later, in October 2014, can be used to make payments, monitor heart rates and check emails. It even tells the time. But with prices ranging from $350 to $17,000 (for a gold edition) and a battery lasting just 18 hours before a recharge, many wonder if this really is the moment when wearable devices will break through.
At LJ Research, we conducted a short online survey amongst our panellists to ask their views not only about Apple’s iWatch but its competitor products too. Our smartwatch market research intended to find out the proportion of people who already own the device as well as the proportion who consider getting one. We also asked our panellists if they thought that the smartwatch is going to cause the next mobile revolution – following laptops, smartphones and tablets (devices that that all changed the way we communicate, shop and work).
As illustrated in the chart below, based on responses in June and July 2015, the vast majority of our panel do not own a smartwatch.
And most people who took part in our smartwatch market research said they were unlikely to purchase the wearable device.
Generally, and this is probably unsurprising, the younger our respondents the more they were to be persuaded to buy a smartwatch.
Of those who said they were not interested in buying one, the majority said they were just not keen on such a device in the first place and more than a third thought it was too expensive.
Of those who did not rule out buying a smartwatch, the majority were attracted by the device’s ability to give directions and location based information. Fitness monitoring and messaging were features that appealed to women more than men; fitness monitoring was also more popular amongst North Americans than Europeans (including British citizens).
We asked all who took part in our market research if they thought that the smartwatch was going to cause the next mobile revolution following in the footsteps of laptops, smartwatches and tablet computers.