Stratos Card
617 Detroit
Ann Arbor, MI
48104 USA
Stratos Card Logo
Stratos Announces "State of Wearable Technology" Research Study, Reveals Consumer Attitudes on Connected Devices & Payments
Media Contact: press@stratoscard.com
Ann Arbor, MI — January 13, 2015 — Stratos Inc., creator of the Stratos Bluetooth Connected Card™ Platform, today announced results from its Stratos Wearables Payment study.  The consumer survey found that almost one out of three (30 percent) of US smartphone owners already own a wearable device. The most popular wearable type was a wristband like Fit Bit or Jawbone while the least popular were smart glasses like Google Glass and smart clips.

Those who owned a wearable, said they had the following:

  • 53% Smart wristband
  • 32% Wearable camera
  • 26% Smart clip
  • 24% Smart watch
  • 10% Smart glasses

The desire to own a wearable is at an all-time high, with 75% of respondents saying they plan to buy one. When asked what type of wearable they planned to purchase, the most popular type was a wristband device while the least popular was smart clothing such as pants, tops and jackets. Specifically, smartphone users were interested in buying the following:

  • 39% Smart wristband
  • 29% Wearable Camera
  • 29% Smart watch
  • 19% Smart glasses
  • 9% Smart Clip
  • 8% Smart connected card
  • 6% Smart shoes
  • 5% Smart clothing

When asked if interested in making in-store payments with their wearables – nearly half (43 percent) of users said they would like this feature. Interestingly, nearly one out of two smartphone owners (48 percent) would use their wearable more if it had the ability to make payments in stores.

The survey showed that consumers prefer to pay in ways already familiar to them. When given the choice including a mobile device, a connected all-in-one-card or a smart watch – three current leading payment options - the preferred method for making in-store payments was the connected card. It was by far the most popular with 49% of users preferring this form. Mobile devices ranked second with watches trailing as a distant third.

Respondents ranked the preferred wearable or device for payment as follows:

  1. 49% Pay by “All in one” digital card
  2. 32% Pay by mobile device
  3. 9% Pay by watch
  4. 8% Pay by arm or wristband
  5. 2% Pay by smart clip
  6. .7% Pay by shoe
  7. 0% Pay by clothing

“Consumers are rapidly incorporating wearable technology into their lives, but they want “the right wearable for the right function,” said Thiago Olson, co-founder and CEO of Stratos, Inc.  “Just like a wristband feels right for health monitoring – the connected card with its familiar plastic form is the preferred payment wearable.  But of course, the fact that the card is connected allows them to manage their payments in a way traditional cards can’t begin to equal. It’s going to be an exciting year for wearables – and for payments.”

Survey Methodology

This survey was conducted online within the United States by research firm AYTM - Ask Your Target Market among 400 smartphone owners ages 24 - 50 on December 31, 2014 amongst a panel of over 20 million people. AYTM has been used by companies like Adobe, NutriSystem, NBC, Intuit, and Samsung. The research from AYTM has been covered in media outlets such as the BBC, The Huffington Post, Mashable, AdWeek, TIME, USA Today, eMarketer, CNN Radio, and TechCrunch. The data is reported at 95% confidence level with a margin of error of + or - 4.9%. 

For complete survey methodology, please contact press@stratoscard.com.

About Stratos, Inc.

Stratos is the creator of the award-winning Stratos Bluetooth Connected Card™, which empowers issuers with a new card offering that consolidates an unlimited number of loyalty, membership and gift cards into a single, smart, dynamic card -- digitizing the wallet. With patented security features and acceptance at more places than any other mobile payment offering, Stratos streamlines the payment experience and empowers cardholders to make better payment decisions. Merchants and issuers partnering with Stratos are able to strengthen loyalty and engagement with better data and improved communications to their customers without infrastructure change. Stratos was founded by Thiago Olson and Chris Bartenstein and is based out of Ann Arbor, Michigan. The company is funded by Toba Capital Partners, Western Technology Investment, Resonant Venture Partners and Hyde Park Venture Partners. For more information, visit stratoscard.com. Connect with us on Facebook, Instagram or Twitter.