Tech companies need to collaborate with fashion industry to boost sales
Technology companies need to create more fashionable wearable technology if they are to drive widespread adoption among consumers, analyst company Beecham Research has said.
Major technology companies have started to realise this, resulting in collaborations such as Google Glass and designer Diane Von Furstenburg, Fitbit and Tory Burch and the Withings Activite watch which used Parisian fashion designers and Swiss watchmakers.
But start-ups in the wearables area are too focused on the technology and do not have the right business model that is necessary for them to succeed, according to the Beecham researchers.
"Wearable technology start-ups are feeding the market with innovative ideas and creative uses of technologies, but they are not addressing other important issues, from security to business models," said Saverio Romeo, principal analyst at Beecham Research.
"They do not consider at all what a business needs to consider [such as] business models, marketing, branding, design and ethics. They assume the technology is so cool that people will buy it because it is cool."
He added: "Wearables are not only tech products, and can't be."
Claire Duke-Woolley, fashion technology analyst at Beecham, said: "There is a real difference between making technology wearable versus making technology products that are desirable and genuinely engage with consumers through good design practice.
"Unless there is a holistic morphing of technology and aesthetics we will not harness the full potential of wearable tech innovation."
Duke-Woolley and Romeo are the authors of a Wearable Technology report that Beecham Research published this week.
In the report, they forecast that the market is on course to be worth $3 billion dollars by 2018. However, the researchers argue that taking a multidisciplinary approach to wearables could increase the market value to be worth $9.3 billion by 2018.
Marketing that urges respondents to ‘buy now’ is a little like asking someone to marry you on your first date. At any time, only 3 per cent of the market is looking for what you’re selling, so the chances of your date randomly being ‘The One’ is pretty slim.
The prospect of deep learning gives those of us in the industry something to get really excited about, and something to be nervous about, at the same time.
In 1976 Apple launched. The business would go on to change the game, setting the bar for customer experience (CX). Seamless customer experience and intuitive designs gave customers exactly what they wanted, making other service experiences pale in comparison.
In this bonus last episode of this new podcast series, BrandHook MD, Pip Stocks, talks with former ANZ group general manager of marketing, Louise Eyres, talks about the importance of thinking like a customer and using intuition to solve customer painpoints.
Red Agency YouGov Galaxy Report, February 2019 Predictors Study. https://redagency.com.au/re...
Vanessa Skye Mitchell
DNA-based marketing: The next big thing?
RIP holden
Max Polding
Marketing professor: For Holden, brand nostalgia ain’t what it used to be
Where does the claim that 2 million Australians have tested come from ? Anecdotal information suggests that this is way off the mark.
David Andersen
DNA-based marketing: The next big thing?
Thank you for the info , being part of a digital marketing agency in kerala , this proved handy and get to know with upcoming trends. htt...
Dotz Web Technologies
Predictions: 9 digital marketing trends for 2019
So who then is correct? The Research or The skilled Digital people.
Anene
Report reveals Australia faces digital skills shortage