Fitness wearables are nice and dandy, but they're not offering enough value and it’s starting to show.
This is the shortest possible recap of an interview V3 did with Andy Caddy, chief information officer at Virgin Active.
Virgin Active is a chain of health clubs all around the world, and Caddy says if they are to keep their customers (happy), fitness wearable makers need to focus more on software and meaningful insights.
"We're already seeing customer fatigue with very limited products," he said.
"Two years ago you might have spent £100 on a step tracker. This year or certainly next year it is very unlikely you'd do the same thing. You'd expect a lot more out of these things."
Virgin Active allows its members to use wearable devices to measure their workouts, but the interest was fairly low.
"If I know that I ran two miles yesterday outdoors and I did so many thousands of steps indoors, so what? What we're looking at now is how we can start to think about getting insight from all this information,” he said.
With different devices measuring different parts of people’s lives, they will get overloaded with information. It will be up to companies like Virgin Active to make sense out of that data.
"People will arrive at the door of a business towing this information, and they'll be expecting companies to be able to work with it. If [companies] can't they will go somewhere else."
Where that ‘somewhere else’ will be is a good question because, as Caddy says, this is analytics on a big scale and no one has solved that problem yet.