Tag: wearable devices

Gartner has predicted that by 2018, about 50 percent of shoppers will use wearables or smartphones to pay for purchases.

Research firm, Gartner Inc., has released a recent prediction that wearable technology will play a tremendously larger role in mobile payments over the next few years, saying that half of all consumers will be using them or smartphones for that purpose by the close of 2018.

This forecast has come at a time in which mobile payments are still only just gaining initial adoption.

In markets such as Japan, North America and many countries throughout Western Europe, mobile payments remain a small but growing transaction technology. Gartner feels that by 2018, they will have become popular enough that fifty percent of consumers will be using their smartphones or wearable technology devices in order to complete transactions at checkout counters in retail stores and restaurants.

This also suggests that Gartner feels that wearable technology will also be growing in its popularity.

According to Gartner principal research analyst, Amanda Sabia, “Innovation in apps, mobile devices and mobile services are impacting traditional business models, particularly in the way people use personal technology for productivity and pleasure.” Sabia also pointed out the importance that product managers come to understand who these shoppers actually are when it comes to catering to new devices and providing services, while discovering just how those gadgets are being used by those customers. “Knowing your customer is imperative in order to capture a fair share of spending opportunities in this dynamic marketplace.”

There were three types of mobile payments that were described by Gartner within its recent report. It identified them as: wearables or smartphone based payments, branded mobile wallets from credit card issuers or banks, or branded mobile wallets from retailers.

Still, Gartner reported that those mobile payments services based on NFC technology – such as Android Pay, Apple Pay and Samsung Pay – will remain limited throughout the length of the forecast period simply because the partnerships between retailers and financial organizations for using smartphones and wearable technology in that way will not yet have been established. Moreover, consumers have yet to see the value in that type of payment transaction.

A connected apparel maker has now announced its latest form of clothing based wearables.

OMsignal, the wearable technology apparel company, has now announced the launch of two new offerings, one of which is a sports bra that comes with some traditional features as well as sensors that provide feedback on mobile devices.

The OMbra is made out of antimicrobial meshing as well as stretchable fabric into which there are biometric sensors.

These biometric sensors have been worked into the clothing in order to allow it to be used as wearable technology. When worn, the sensors can track various functions such as running economy, heart rate, cadence, and fatigue levels among others. This sports bra works along with the other major offering from OMsignal, which is a running platform called OMrun. It is through that platform that all the various metrics can be observed and tracked.

The OMrun is designed to translate the wearable technology’s feedback inot useful information for the wearer.

The OMrun platform also offers the user of the wearables with a “Biometric Coach”. This feature helps to make it possible for a user to see how her latest biometric results compare to some of her previous results as well as with a goal that she has set prior to the run.

While these wearables are clearly designed for a female market, the first launch from the company, back in late 2014, had been meant for male athletes. That was designed in the form of a men’s shirt that has been on the market since that time.

While the products created by OMsignal are quite unique, they are being added to a marketplace that is increasing rapidly in size. Moreover, it is expected to be a category that will see a considerable amount of rapid growth over the next few years, as well. The wearables sector, as a whole, is working hard to reach mainstream status with tech embedded clothing forming a rising part of it.

This suggests that OMsignal is going to be facing an increasing amount of competition over the next few years as more rivals start to make their own product launches.