April 2021

Wearable devices make up an $81.5 billion global market in 2021. According to Gartner’s January 2021 forecast, this was driven by increased consumer interest in tracking their health status during the pandemic (smart watches) and the growth of remote work (purchases and upgrades to headphones and ear-warn devices). According to one insider, 3-5 million Apple watches alone have been purchased by adults age 65+. And AARP’s newest technology adoption report, just published, notes that 20% of the 70+ age range own a wearable.  Also notable, considering that most wearables are still paired with them, smartphone ownership has risen most sharply among the 70+, with 77% of survey responders indicating they own one.

Do consumers trust technology?  Not so much -- just ask them. This question was asked on a recent Edelman Trust Barometer, responder age was capped at 64.  And the survey showed that the largest drop in trust for a category from 2020-2021 was in technology (summarized here in a single graph) – for some, not trusted. What categories were the most trusted?  Food and beverage, healthcare, transportation, education and consumer packaged goods.  What’s this mean?  According to Edelman: “The tech industry is now being held to account for all manner of societal ills -- from information bankruptcy to job loss, to human rights, to the mass-class divide."