Australians aren’t interested in purchasing wearable technology, until the devices either look better or actually perform a new function according to research by Lightspeed GMI, a global market research company.
Lightspeed GMI interviewed 2,407 consumers during April 2015 from different parts of the Asia Pacific region, covering both developed and developing countries. The countries covered were Australia, New Zealand, China, India, Malaysia, Hong Kong, Singapore, South Korea and Japan.
The survey found that consumers aren’t interested in wearable technology that performs the same/similar functions to the devices they already own. The product also needs to be equally fashionable as it is functional. This finding suggest that people would prefer to have wearable tech products that he or she would normally wear anyway, such as watches, jewellery and footwear, rather than carrying an “extra” item.
The survey found that:
- 21 per cent of all respondents claimed to own at least one wearable tech product. One third of those said their regular usage had dropped off since they first purchased.
- 41 per cent claimed they do not own one but are interested to find out more.
- The remaining 38 per cent claimed that they are not too interested at all.
- New Zealanders have the lowest ownership and highest not interested rates. Malaysia and China show the highest ownership and interest levels.
- 62 per cent of Australians have no intention of purchasing wearable technology.
- In all survey countries, current owners or those interested in wearable technology the majority were males aged 25-44.
- The top three brands which respondents associate consumer wearable tech products with are Apple (72 per cent), Samsung (56 per cent) and Google (45 per cent)
- 11 per cent had concerns over data privacy of such wearable tech products.
The survey weighed the pros and cons of wearable technology: