Millennials & Smartwatches? Not a Chance
- August 31, 2018
- Posted by: Mike Brown
- Category: Survey
2017 is all about staying on top of all the latest technology trends.
Remember when the iPhone 5s came out and the headphone jack was moved from the top of the phone to the bottom? I do, and I also remember the lines at the Apple Store were out the door for a headphone jack that was relocated by about four inches.
You would think that most people’s bank accounts could not keep pace with the rapid development of the newest gadgets, but somehow people keep finding the funds for the most recent smart device.
However, there is one piece of technology that was greeted with much fanfare, but cannot gain a solid footing in the market: the smartwatch.
In 2013, electronic giants Samsung and Sony released the first smartwatches, the Galaxy Gear and the SmartWatch respectively. Then in 2014, Apple, LG, Android, and Microsoft all unveiled their own versions of the smartwatch. The smartwatch was supposed to be the hottest trend, some even said it might push the smartphone into obscurity.
However, that has simply not been the case.
It has been a suspicion for some time now that smartwatches are not catching on like many thought they would, and LendEDU has confirmed this belief with data-driven evidence.
84% of Millennials Say "No" to the Apple Watch
In a poll licensed by LendEDU, 2,751 millennials were asked to answer the following question: “Are you going to get the Apple Watch?”
A whopping 84 percent of the millennial respondents answered “No.” In comparison, only five percent said “Yes,” while 11 percent responded with “Maybe.”
This statistic should be of concern to smartwatch manufacturers for a few reasons.
First, this poll was conducted only to millennials, who have surpassed the baby boomers as the largest living generation in the world. When it comes to advertising for technology products, millennials are certainly the main target demographic. This is not only because of the sheer size of the millennial demographic, but also because millennials are the most electronically literate and the most likely to buy the newest gadgets. If 84 percent of technologically inclined millennials said they were not going to buy the Apple Watch, what makes anyone think the older generations are going to buy it?
Second, although this poll question only asked the respondents about the Apple Watch, one could reasonably assume the statistics would be the same for the Samsung, Sony, and Android versions of the smartwatch. When people think of smartwatches, they immediately think of the Apple Watch first. The Apple Watch is the one we see on television commercials. Not to mention, Apple products, whether it be an iPhone or Apple Watch, almost always perform better than the competition in terms of sales. One could only imagine how poorly the smartwatches from companies like Samsung and Sony are performing if Apple’s smartwatch is doing this bad.
Third, this data only bolsters the recent reports that have highlighted the poor performance of smartwatches. Pebble, a smartwatch manufacturer, recently announced that they will be shutting down their company and would no longer be maintaining their servers for current customers. Fitbit is having countless problems building out their first smartwatch, and consequently, the company has had to stall in releasing their product. The newest Android smartwatch supposedly has all types of glitches. Finally, Apple, the leading seller of smartwatches, continues to withhold their Apple Watch sales numbers (likely out of sheer embarrassment).
Why are smartwatches not catching on? It could be their faulty design and unattractiveness that is pushing people away. Or, it may be that everything useful on a smartwatch can be more easily accessed on a smartphone. Today, everyone uses their phone to tell the time, which has led to watches being used solely for fashion purposes, and smartwatches do not exactly have a look that will turn heads.
For whatever reason, the smartwatch is one technology trend that has not caught on for millennials or anyone else, and it does not seem like it ever will.
LendEDU has gathered this data under license from polling company Whatsgoodly. In total, 2,751 current college students were polled from April 8th, 2016 to April 19th, 2017. The National Center for Education Statistics estimates that there are 20.5 million current college students in the United States. We estimate that our sample is representative of the population of college students with a margin of error of +-1.45%. Respondents were asked to answer the following question truthfully: "Are you going to get the Apple Watch?"