As we move more deeply into 2016, the big question for retailers is, what are the ‘killer’ products? We would suggest that wearables and fitness merit serious consideration, as people are concerned about their health and well-being, and as 80 becomes the new 60. There are opportunities for retailers selling directly to consumers as well as to local institutions, insurance programs, and more.
Wearables and smart devices are entering a new phase, as smartwatches push into the mainstream, along with a slew of other new form factors including lifestyle accessories. We’ve been through the early phases of fitness trackers – with many of them comfortably stored in the back of a drawer.
The wearables market is growing and changing at a very rapid pace – and this turnover is good news for the retailer. Just consider industry projections. Global shipments of wearable devices will hit 61 million in 2015 and then climb to 134 million by 2018, representing a compound annual growth rate of 30.4 percent, according to research firm MarketsandMarkets.