The three critical factors wearable devices need to succeed

richardcooperch:

Good read. At this point in time this leaves me thinking wait and see what they all produce in the future – BUYING DECISION still = WAIT.

Originally posted on Gigaom:

At least 10 new wearable devices were introduced at CES in January, from makers such as Sony, Pebble, Meta, LG, Garmin, Razer and more. Yet despite the enthusiasm in the market, the dirty secret of wearables remains: almost all of the current generation of products fail to drive long-term, sustained engagement and behavior change.

Endeavour Partners’ research recently found that while one in 10 US consumers over the age of 18 now owns a modern activity tracker, one-third of US consumers who have owned a wearable product stopped using it within six months, and more than half of US consumers who owned an activity tracker no longer use it. Consumers are buying them and trying them, but rarely end up relying on them.

Key challenge of wearables: Long-term engagement and behavior change

Sustained engagement is the key challenge for companies developing wearable devices or complementary services. A surprising percentage of…

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About richardcooperch

Principal - Crowe Horwath (Aust) Pty Ltd Treasurer - Alzheimer's Australia Inc. Vice President - Alzheimer's Australia (Tas) Inc. Richard has over 20 years experience in Business Advisory, Taxation & Accounting at Crowe Horwath (formerly WHK) in Hobart. His primary goal is to help his clients, family, friends, and team members reach their maximum potential. Accounting and financial services is about providing people with meaningful knowledge and insight that helps them make good decisions. Some professionals forget that it is the person receiving the advice that needs to understand the issues at hand. Richard is a business partner to his clients and focuses on providing relevant, reliable and timely advice in a language they can understand. Richard believes in delivering outcomes, outcomes that must be defined by clients, and as a result he is not focused on charging time unlike most other accountants and advisors. Crowe Horwath - Comprehensive, expert services: At Crowe Horwath, we focus on understanding your business and personal objectives. Our approach is based on establishing and maintaining long-term relationships to provide the best expert advice.

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