The Wearable Tech Trend
If you`ve been paying any attention in the consumer electronics industry lately then you have undoubtedly seen the exploding trend in wearable devices. Many deal with integrating your health, work life, phone, etc.
Although this technology is new, manufacturers should already be looking for ways to innovate on this trend. Because being just “wearable” is not enough to stand out.
More and more manufacturers are creating their own versions, but in this fast-paced consumer world you can`t afford to be similar to other brands. Being unique in features and marketing is essential if you`re looking to get attention from consumers and retail buyers.
Can Consumers Keep Up?
A good question to ask yourself regardless of the industry you`re in, is whether or not consumers will want and accept what you have to offer. Especially with a new, innovate product.
Often times, new products are able to test the waters via crowdfunding. If the product is funded by relatively many people, then you know it has some potential.
From the perspective of retailers, it is important to take on new products with a strong promise of being sellable and desired by consumers. While wearable technology is hot right now, as a new frontier, you`ll need to be able prove it`s uniqueness and attractiveness in the market.
Introducing a New Product?
Focusing on consumer perceptions of your product is important, but as earlier stated, retailer and distributor perceptions must be thought of as symbiotic in order to see long-term success.
Retailers are looking for new products all the time, and knowing the criteria and standards in which they look for new products is extremely important to sell your product.
Whether you`re a start-up or an established electronic manufacturer, properly preparing to penetrate the retail market early on will yield much quicker results in the long-run.
Thoughts?
What are your thoughts on wearable tech trends? Is the market becoming crowded already?
