By Martha Vazquez
Devices such as Fitbits, Jawbone, UPs and Nike FuelBands are taking the consumer electronics market by storm. Originally, the activity tracking solutions were created for wellness programs but the market is changing to where consumers are almost desperate to take advantage of maintaining their own fitness activities to help improve their health and reach fitness goals.
So, it comes to no surprise when the announcement came out that the Pebble Time, the latest smartwatch, can be purchased on Best Buy’s website, then later will be sold in the retail side. Pebble recently raised $20 million on Kickstarter, and with Fitbit’s IPO being such a huge success—raising $732 million and having a current value of $8 billion—it’s clear that the smart watch craze is in full throttle. Expanding Pebbles’ smart watch to a big brand chain retail giant such as Best Buy will definitely help enhance the company’s’ brand recognition, especially as they compete against more well known players in the market, such as the Apple Watch which will hit retail stores in a matter of days.
As more of these devices become adopted, the wearable market proves to be a great opportunity for other companies to start expanding their go-to-market strategies. Creating a seamless customer experience is key for getting consumers to buy in to these devices. But of course, as more competition enters the space, these companies will have to look at products that are continuously comfortable to wear and will need to go above and beyond simply tracking your activity levels. Recently, I spoke with a company that will be launching a wearable product that attaches to your body to monitor fitness activities. (Stay tuned for more announcements around this specific wearable.) But, where do wearable companies go from here? With tons of research and development being performed by many companies, how will these wearables take our health to the next level? What is next for the wearable market? I expect that companies will start the race to develop a wearable that can give us readings that will give us more insight to our future health and maybe even prevent illnesses or diseases, such as diabetes.