Tag Archives: retail channels

Forrester explains Wearables 2.0

Forrester analyst JP Gownder says wearable devices will ultimately change the way workers do their jobs and how consumers manage their lives.

“Every day (and surely this week), I talk to inventors, entrepreneurs and established vendors entering the wearables space. The dynamism I encounter in this space reminds me of the early days of the Web in the late 90s,” Gownder writes in a recent blog post.

“Of course many wearable computing concepts and executions will fail, as is true with any new technology movement. [However], Wearables 2.0 will weed out some of these false starts and focus on three success factors.”

First, says the analyst, companies must develop more comprehensive business paradigms. Indeed, if Wearables 1.0 was about creating technologies, Wearables 2.0 is all about crafting rich business models.

Next up is finding a way to continue working within existing institutions.

“Selling fitness wearables to consumers one on one through retail channels might have its merits for dedicated exercise enthusiasts, quantified selfers and those who want to lose weight,” Gownder explains.

“But having doctors, hospitals, insurance companies and corporate wellness programs distribute fitness wearables embeds the information collected into the entire healthcare system… [Clearly], Wearables 2.0 will intersect with the existing institutions of your life in useful ways.”

Last, but certainly not least is creating enterprise value.

“Because of consumerization – the fact that the technology we have at home is often better, faster-moving, more agile, more mobile, etc. than the tech we are issued at work – we tend to assume now that *all* innovation will originate on the consumer side,” he adds.

“Wearables 2.0 will upend that a bit, because the most useful enterprise devices are often highly specialized. Wearables 2.0 will help enterprises provide value to their customers – a key technology benefit in the age of the customer.”