Those who owned a wearable, said they had the following:
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:
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:
“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.”
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 firstname.lastname@example.org.