SOURCE: Stratos, Inc.

Stratos, Inc.

January 13, 2015 08:00 ET

Stratos Announces "State of Wearable Technology" Research

Study Reveals Consumer Attitudes on Connected Devices & Payments

ANN ARBOR, MI--(Marketwired - January 13, 2015) - Stratos Inc., creator of the Stratos Bluetooth Connected Card(TM) Platform, today announced results from its Stratos Wearables Payment study. The consumer survey found that almost one out of three (30 percent) of US smartphone owners already own a wearable device. The most popular wearable type was a wristband like Fit Bit or Jawbone while the least popular were smart glasses like Google Glass and smart clips. Those who owned a wearable said they had the following:

  • 53% Smart wristband
  • 32% Wearable camera
  • 26% Smart clip
  • 24% Smart watch
  • 10% Smart glasses

The desire to own a wearable is at an all-time high, with 75% of respondents saying they plan to buy one. When asked what type of wearable they planned to purchase, the most popular type was a wristband device, while the least popular was smart clothing such as pants, tops and jackets. Specifically, smartphone users were interested in buying the following:

  • 39% Smart wristband
  • 29% Wearable Camera
  • 29% Smart watch
  • 19% Smart glasses
  • 9% Smart Clip
  • 8% Smart connected card
  • 6% Smart shoes
  • 5% Smart clothing

When asked if interested in making in-store payments with their wearables -- nearly half (43 percent) of users said they would like this feature. Interestingly, nearly one out of two smartphone owners (48 percent) would use their wearable more if it had the ability to make payments in stores. 

The survey showed that consumers prefer to pay in ways already familiar to them. When given the choice including a mobile device, a connected all-in-one-card or a smart watch -- three current leading payment options -- the preferred method for making in-store payments was the connected card. It was by far the most popular with 49% of users preferring this form. Mobile devices ranked second, with watches trailing as a distant third.

Respondents ranked the preferred wearable or device for payment as follows:

  • 49% Pay by "All in one" digital card
  • 32% Pay by mobile device
  • 9% Pay by watch
  • 8% Pay by arm or wristband
  • 2% Pay by smart clip
  • 0.7% Pay by shoe
  • 0% Pay by clothing

"Consumers are rapidly incorporating wearable technology into their lives, but they want 'the right wearable for the right function'," said Thiago Olson, co-founder and CEO of Stratos, Inc. "Just like a wristband feels right for health monitoring -- the connected card with its familiar plastic form is the preferred payment wearable. But of course, the fact that the card is connected allows them to manage their payments in a way traditional cards can't begin to equal. It's going to be an exciting year for wearables -- and for payments."

Wearable Payment Survey Methodology

This survey was conducted online within the United States by research firm AYTM - Ask Your Target Market among 400 smartphone owners ages 24-50 on December 31, 2014, amongst a panel of over 20 million people. AYTM has been used by companies like Adobe, NutriSystem, NBC, Intuit, and Samsung. The research from AYTM has been covered in media outlets such as the BBC, The Huffington Post, Mashable, AdWeek, TIME, USA Today, eMarketer, CNN Radio, and TechCrunch. The data is reported at 95% confidence level with a margin of error of + or - 4.9%. 

For complete survey methodology, please contact press@stratoscard.com.

About Stratos

Stratos, Inc. is the creator of the Stratos Bluetooth Connected Card™ Platform that combines plastic cards into a single, smart, dynamic card.  Credit, debit, loyalty, membership and gift cards can be loaded into one mobile-connected card, empowering people to make better, more informed payment decisions while simplifying transactions through a familiar, reliable form. Stratos allows merchants and card issuers to strengthen brand loyalty with better data and improved communications to card users without infrastructure change. For more information, visit http://www.stratoscard.com.

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