Why The Apple Watch Will Change Business Forever

10th September 2014

Apple enter the wearable technology market with the Apple Watch

Apple took it’s first step into the world of wearable technology, as CEO Tim Cook announced the launch of the Apple Watch. The Apple Watch is designed to monitor health, fitness and activity levels. Using motion sensors to track the users movement and heart rate, Apple Watch feeds data back to Health App – used in conjunction with your existing iOS device to enable users to analyse personal data. Giving you the capability to make enhancements to your life. This is called ‘self-hacking’ or what analysts are referring to as ‘the quantified-self movement’.

iPhone 6 and iPhone 6 Plus announced

Apple also demoed the new iPhone 6. It’ll be available in two larger versions, a 4.7 inch screen for iPhone 6 and a 5.5. inch screen on iPhone 6 Plus. This is reflective of growing consumer demand in the tablet market for larger screens. Consumers want additional screen ‘real estate’ to play high definition games, watch movies and consume content via the mobile web. Apple announced that the iPhone 6 will utilise contactless debit and credit card functionality, enabling users to make effortless payments in store.

Wearable devices are changing business

But what does this mean for businesses? The market for smartphones is now saturated in 70% of developed markets. As a result, many smartphone manufacturers have taken the leap into wearable in order to create demand for a new type of product. In 2013 there were 9.7 million wearable devices sold including smartwatches and fitness trackers. By 2014 that number is expected to grow to 22.3 million. Samsung, Sony, Asus and Motorola have already joined the party. But it’s the Apple Watch that is anticipated to really turbo-charge the wearable tech market. Samsung may have been first to the market – but Apple intend to be the best – and this has far reaching ramifications in terms of consumer buyer behaviour and the way businesses will need to operate in order to engage with their customers.

Wearable technology finally entering the mainstream

Until now – wearable tech has failed to penetrate the mainstream, with sales of fitness bracelets and smart watches largely confined to early adopters and hardcore tech fans. Ugly designs and clunky functionality have failed to convince consumers to abandon their traditional wrist watches. Abandonment rates have been high too – with one in three Americans ditching their smartwatch or fitness bracelet within six months of purchase. The Apple Watch will launch in 2015 and is set to revolutionise the wearables market. Your customers are now online 24/7, constantly connected and able to consume content. Our expectations in terms of software UI/UX are shifting. Phones are getting bigger, wearable UI is smaller and the challenges in terms of software development are enormous.

Changing the was businesses operate

The Apple Watch will change the way your customers pay for goods and services. It’ll change the way your customers think about their health, fitness and wellbeing. With increased focus on voice activated search (Siri), it’ll change the way customers discover your business and how you market to them. The Apple Watch is a game changer for CEO’s, marketers, software developers and IT managers – and the consequences for businesses are huge. If you’re a business new to the world of mobile technology and wearable app development, Waracle can help. If you’re interested in discussing a wearable strategy for your business, contact us today to kick-start the conversation.

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