What’s Next for Wearables?
New York City’s CE Week hosted a Wearable Technology panel discussion, moderated by Lauren Indvik, editor in chief of fashionista.com, that discussed the future of wearables.
The panel predicted a bright future for the market and discussed its direction, overall coming to an agreement about where the industry is headed and what will be in store for the next generation of wearables.
Ben Arnold, executive director and industry analyst for The NPD Group, declared the trend to still be in its infancy, and says the movement should focus its energy on “2.0s”. According to Arnold, accuracy and actionability leave much to be desired.
Yuli Ziv, founder and CEO of Style Coalition, sees a future of wearables built around a centralized platform, and hopes for a more organic and embedded experience, in agreement with Arnold.
The panel addressed issues of privacy that plague the trend, and Ziv raised a point that people at large are becoming comfortable with sharing personal information, and wearables will only become another vehicle for sharing.
“This is not a new problem,” agreed Pierre-Alexandre Fournier, CEO at Hexoskin.
Judy Tomlinson, founder of a “smart” jewelry company called FashionTEQ, imagines the wearable market will thrive in a brick-and-mortar environment, because consumers need to touch and feel fashion, which motivates them to buy.
According Fournier, fashion giants will take possession of the market Tomlinson envisions. “You don’t go to Best Buy for fashion,” he said.
Ziv predicts that the honeymoon is over for Google and Apple’s ownership of the consumer electronics market, and that wearables will propel the market’s expansion into other companies’ hands.
See the video of the entire panel session here: