Names like Google, Apple, and Samsung are at the forefront of the wearables category.

On Friday (Sept. 13), Google announced its partnership with medical technology company Masimo to develop a new reference platform aimed at enhancing the efficiency of original equipment manufacturers (OEMs) in producing Wear OS smartwatches. This platform will integrate Masimo’s advanced biosensing technologies and standardize smartwatch devices within the Wear OS ecosystem, which includes a range of health and wellness tracking tools.

Not to be outdone, Ray-Ban maker EssilorLuxottica this week announced a new long-term agreement with Meta Platforms, aimed at advancing smart eyewear technology. This partnership, which extends their collaboration into the next decade, pushes the boundaries of smart eyewear technology, building on the success of their previous Ray-Ban Meta glasses and setting the stage for future innovations in wearables.

Extending a Partnership

Since their collaboration began in 2019, EssilorLuxottica and Meta have introduced two generations of Ray-Ban branded smart glasses, reshaping the landscape of wearable technology. By combining EssilorLuxottica’s expertise in eyewear with Meta’s technological advancements, the Ray-Ban Meta glasses have achieved mainstream success, with high demand in markets across the U.S., Canada, the U.K., Australia and several European countries.

“Over the past six decades, EssilorLuxottica has led the transformation of the eyewear and eyecare industry,” EssilorLuxottica Chairman and CEO Francesco Milleri said in a release. “Our work with Meta has already proven to be a significant milestone in our quest to make glasses the gateway to the connected world. We look forward to continuing to shape the future of this category together.”

Meta founder and CEO Mark Zuckerberg said of the ongoing collaboration, “I’m proud of the work we’ve done with EssilorLuxottica so far, and I’m excited about our long-term roadmap ahead. We have the opportunity to turn glasses into the next major technology platform and make it fashionable in the process.”

Meta is reportedly exploring the acquisition of a 5% stake in EssilorLuxottica, valued at approximately 4.5 billion euros ($4.9 billion). The two companies are partners on the Ray-Ban Meta smart glasses, which have surpassed sales forecasts and play a crucial role in Meta’s hardware strategy. Acquiring a stake in EssilorLuxottica would enable Meta to broaden its device portfolio, fortify its relationship with the well-regarded Ray-Ban brand and sustain ties with LensCrafters, which supplies prescription lenses for smart glasses.

Adding AI to the Tech

The introduction of AI-powered eyewear from leading tech companies is poised to transform consumer shopping habits both online and in-store. Experts anticipate these glasses will offer immersive virtual shopping experiences, allow for real-time price comparisons and integrate digital catalogs directly into users’ vision. As retailers and brands race to adapt, this technology is set to blur the boundaries between digital and physical retail spaces.

One company that has been on the forefront of the wearables tech is Snap Inc., which this week unveiled the fifth generation of its Spectacles, standalone AR glasses designed to enhance real-world interactions through Snap OS, a new operating system. Weighing just 226 grams, these glasses feature four cameras for advanced hand tracking, a see-through AR display, and vibrant micro-projectors.

Spectacles can integrate with mobile devices via a new app, allowing features like game controls and Spectator Mode. Powered by dual Snapdragon processors, they offer up to 45 minutes of runtime. The new Snap OS facilitates natural interaction and developer-friendly tools, including a revamped Lens Studio and a partnership with OpenAI for advanced AI capabilities. Spectacles are available through the Spectacles Developer Program for $99 per month.

The Ray-Ban Meta glasses, too, now have AI capabilities.

A Meta spokesperson told PYMNTS, “Since we launched last year, we’ve continued to roll out new features and styles/colors. In the U.S. and Canada, we introduced new Meta AI capabilities to help you get things done, create, and connect with people and things you care about. We recently rolled out multimodal AI on the glasses so you’re able to ask the assistant what you’re looking at or a quick question while you’re on the go.”

Given the success of Ray-Ban Meta glasses in various international markets, the spokesperson noted EssilorLuxottica and Meta plan to address diverse consumer needs and preferences across different regions through voice commands and Meta AI that support several languages.

“Currently, you can use voice commands in English, French, and Italian and translate texts/signs from Spanish, Italian, French, and German to English,” the spokesperson added.

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When connected to the user’s smartphone, the Première Sound enables taking calls, listening to music and controlling audio and video playback, Jing Daily reported Sunday (Aug. 25).

The introduction of this watch is part of a trend that is seeing the integration of smart devices into consumers’ daily routines become increasingly prevalent. As payments reported in March, these devices — from smartphones to smartwatches — have transformed communication, access to information and financial transactions.

In another recent product launch in the wearables space, financial education-focused FinTech Greenlight said Aug. 7 that it has partnered with Google to connect Greenlight’s debit card to Google’s Fitbit Ace LTE, a smartwatch designed for kids.

This combination helps kids learn to “spend wisely” and tap to pay with their watches, the company said in a press release.

“Teaming up with Google to integrate Greenlight into kids’ smartwatches allows us to bring families even more peace of mind and convenience as their kids become more independent,” Tim Sheehan, co-founder and CEO at Greenlight, said in the release.

Samsung unveiled its latest wearables, with features powered by artificial intelligence (AI), in July, saying the new Galaxy Ring, Galaxy Watch7 and Galaxy Watch Ultra include the company’s Galaxy AI.

“The intelligence, guidance and insights that are offered with Galaxy Ring, Galaxy Watch7 and Galaxy Watch Ultra will help users turn data into meaningful insights and create a whole new era of expanded intelligent health experiences,” TM Roh, president and head of Mobile eXperience Business at Sumsung Electronics, said at the time in a press release.

This product unveiling marked the South Korean tech giant’s first entry into the smart ring category, expanded its wearable technology offerings and strengthened its position in the health monitoring market, PYMNTS reported July 10.

Another new entry in the wearables category is offered by VTouch, which supplies a smart ring that lets users communicate with their preferred AI assistants by merely whispering into the device.

“The availability of natural-sounding, vocally responsive AI will fundamentally change the way we work and live,” Zach Koch, CEO and co-founder of Fixie.ai, an AI verbal communication company, told PYMNTS in April.

For all PYMNTS digital transformation coverage, subscribe to the daily Digital Transformation Newsletter.

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The two organizations have partnered to provide this tool to help parents teach their kids how to manage money and spend it safely and responsibly, according to a Wednesday (Aug. 7) press release.

In this collaboration, GoHenry by Acorns, a debit card and financial education app designed kids between the ages of 6 and 18, will be integrated by Google Wallet into the Fitbit Ace LTE, a smartwatch designed for kids between the ages of 7 and 12, according to the release. GoHenry will be featured as a card issuer within the device wallet.

The GoHenry by Acorns app enables parents to set up an automated allowance, make instant transfers and select spending limits, and provides kids with lessons, quizzes and videos that teach core money skills, per the release.

“GoHenry empowers kids growing up in a digital world to learn about and use money in a safe environment,” Acorns CEO Noah Kerner said in the release. “Our collaboration with Google Wallet brings this to life on a wearable payment device, embodying our mission to make every kid smart with money and providing parents with more tools to nurture healthy habits in their kids.”

Ben Greenwood, Fitbit Ace LTE product lead, said in the release: “We’re excited to collaborate with GoHenry to bring tap-to-pay capabilities to the Fitbit Ace LTE, giving parents a valuable tool to instill responsible spending habits and help kids gain confidence while they learn important money skills.”

Acorns acquired GoHenry in April 2023, with Kerner saying at the time that the move would “accelerate our roadmap and deliver financial wellness to the whole family through all of life’s stages.”

At the time, together, the two firms had nearly 6 million subscribers.

In another partnership announced this week, Google partnered with financial education-focused FinTech Greenlight to connect Greenlight’s debit card to Google’s Fitbit Ace LTE.

This collaboration aims to help kids learn to “spend wisely,” tap to pay with their smartwatches, and have safe and easy access to funds as needed, without using a phone or physical card.

For all PYMNTS digital transformation coverage, subscribe to the daily Digital Transformation Newsletter.

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The partnership, announced Wednesday (Aug. 7), connects Greenlight’s debit card to Google’s Fitbit Ace LTE, a smartwatch designed for kids, letting them learn to “spend wisely” and tap to pay with their watches.

“At Greenlight, we’re always looking for new ways to help parents raise financially smart kids and teach them healthy financial habits,” said Tim Sheehan, co-founder and CEO at Greenlight. “Teaming up with Google to integrate Greenlight into kids’ smartwatches allows us to bring families even more peace of mind and convenience as their kids become more independent.”

According to a news release, the partnership is designed to give kids a way to practice smart spending and financial independence without using a phone or physical card, while parents gain the peace of mind that their children have safe and easy access to funds as needed.

“Using the Greenlight app, parents can also send money instantly, automate allowance payments, manage chores, set flexible spending controls, get real-time notifications, and more — empowering their kids to learn smart money management,” the release said.

The collaboration comes at a time when many teenagers in more prosperous countries — such as the U.K. and U.S. — are lagging in financial literacy.

Although more than two-thirds of students routinely use financial products and services, levels of financial literacy are too low to make sure they can avoid financial risks, the Organization for Economic Cooperation and Development (OECD) said in June after releasing the latest installment of its financial literacy assessment.

That study looked at the financial skills of 15-year-olds in 14 OECD and six partner countries and economies and found that while many of them engage in basic financial activities from a young age, nearly 20% did not achieve baseline proficiency levels in financial literacy.

And research by PYMNTS Intelligence shows that many consumers want more financial expertise, and often turn to financial institutions (FIs) for guidance, with many younger consumers being unaware of things such as their credit scores.

“This may not be surprising, considering that 79% of Gen Z and millennials say they get their financial advice through social media,” PYMNTS wrote recently. “Only 11% say they use financial advisers to get the direction they need.”

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This move expands Samsung’s wearable technology offerings and strengthens its position in the health monitoring market.

“The latest additions to our wearables portfolio integrate Samsung’s most advanced technologies and innovations, enabling you to take control of your health and wellness with preventative healthcare solutions,” TM Roh, president and head of mobile experience business at Samsung Electronics, said in a news release. “The intelligence, guidance and insights that are offered with Galaxy Ring, Galaxy Watch7 and Galaxy Watch Ultra will help users turn data into meaningful insights and create a whole new era of expanded intelligent health experiences.”

The Galaxy Ring uses AI to generate detailed health reports, including metrics like sleep, activity, heart rate and heart rate variability. Its AI-powered Energy Score and Wellness Tips offer insights and recommendations designed to help improve daily health and well-being.

Samsung also unveiled its latest foldable smartphones, the Galaxy Z Fold 6 and Galaxy Z Flip 6, positioning them as AI-capable devices with their Galaxy AI platform. The new phones feature generative AI capabilities, including real-time translation, conversation tools, photo editing and productivity options, making AI a major selling point for Samsung in its competition with Apple.

Samsung’s focus on AI in these devices highlights the growing importance of the technology in the smartphone market, as manufacturers seek to differentiate their products and provide advanced features to consumers.

Smart Ring Features

The smart ring is designed for 24-hour health monitoring and is equipped with sensors to track various health metrics, including sleep patterns, menstrual cycles, heart rate and exercise activities. The gadget, weighing between 2.3 and 3 grams, depending on size, is available in three color options.

According to PYMNTS Intelligence, half of U.S. consumers now utilize wearables or apps for health monitoring. Affluent consumers are particularly inclined to use these technologies, with twice as many high-income individuals using wearables or apps compared to those with lower incomes, as reported in “Connected Wellness: Tracking the Rise of Health-Tracking Technology.”

Part of an Ecosystem

The Galaxy Ring is not just a standalone device. It’s part of Samsung’s larger ecosystem of products, including smartphones and smartwatches. This integration strategy is designed to provide users with a comprehensive health monitoring solution, ensuring that no aspect of their health goes unnoticed. This approach could potentially drive sales across multiple product lines, making the Galaxy Ring a key player in the health monitoring market.

Last month, Samsung launched the entry-level Galaxy Watch FE, and now they’ve unveiled the $299.99 Galaxy Watch 7 and the $649.99 Galaxy Watch Ultra. The Ultra, replacing the Galaxy Watch 5 Pro, targets outdoor athletes with features like 10ATM water resistance, an IP68 rating and a titanium watch face.

Key features of the Galaxy Ring include sleep monitoring, which tracks movement, sleep latency, heart and respiratory rates and sleep quality analysis.

Samsung said the Galaxy Ring’s battery can last up to seven days, and the device has a portable charging case. The Galaxy Ring will be available for purchase on July 24, with a starting price of $399.99.

This launch represents Samsung’s effort to capitalize on the growing consumer interest in personal health monitoring devices. It also positions the company to compete more directly with other tech giants in the wearable health technology space.

As the smart ring enters the market, industry observers will be watching to see how it performs and whether it can drive growth across Samsung’s broader product ecosystem. This device’s success could have implications for the future direction of the wearable technology market and personal health monitoring devices.

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Take, for instance, the potential impact of AR smart glasses in healthcare. According to IDTechEx’s Senior Technology Analyst Sam Dale, AR displays have the potential to enhance vision for individuals with hearing impairments, bridging communication gaps and offering lifestyle improvements. 

Similarly, in industries like aviation and medicine, VR simulations could enhance training by offering accessible and lifelike scenarios, Dale said on a recent episode of IDTechEx’s podcast, “Tomorrow’s Tech by IDTechEx,” whether it’s guiding a surgeon through a complex procedure or providing fighter pilots with instructions displayed through headset lenses.

In the industrial sector, XR wearables are streamlining operations and enhancing productivity. Warehouses, for instance, have embraced AR headsets to guide workers and provide maintenance support, similar to the approach Google took with its Google Glass product.

XR’s influence extends beyond workplaces and hospitals; it’s also transforming education. Pharmacy schools, for instance, are leveraging VR to address limitations in equipment and facilities. 

“These facilities are extremely costly, and it is prohibitive for most schools to build one for educational purposes,” Dayanjan S. Wijesinghe, an associate professor in the School of Pharmacy at Virginia Commonwealth University, said of the lack of on-site sterile compounding facilities. “The best way to learn about sterile compounding is to practice it in person, but the next best option is virtual reality.”

Even the way consumers shop is undergoing a digital transformation, thanks to XR. Augmented reality try-on experiences are enabling shoppers to virtually try on clothing and accessories from the comfort of their homes. As PYMNTS reported last month, retail giants Walmart and Amazon are stepping up their digital try-on capabilities, enabling consumers to visualize products in real time, enhancing engagement and driving conversion rates. 

PYMNTS Intelligence research also found that a significant share of consumers are eager for VR to replicate the experience of brick-and-mortar shopping. Specifically, among the 95% of consumers who own or have access to at least one internet-connected device, one-third expressed a high level of interest in using VR technology to shop and buy retail products available in physical stores, all from the comfort of their home or office. Moreover, 4% of respondents reported already engaging in this immersive shopping experience. 

However, the journey toward widespread XR wearable adoption is not without hurdles. Smart glasses have faced challenges in the consumer market due to concerns related to aesthetics, limited use cases, and privacy issues surrounding built-in cameras. 

Similarly, Apple’s Vision Pro headset, launched earlier this year, hasn’t garnered the expected level of enthusiasm. Complaints about discomfort, headaches and eye strain have led early adopters to return their headsets, highlighting the importance of addressing usability and comfort concerns in advancing XR technology.

Despite these challenges, the future of wearable devices remains promising. With continued innovation and collaboration, the integration of XR into these gadgets is poised to play a pivotal role in redefining how consumers live, work and engage with technology, ushering in a new era of immersive interaction and functionality.

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From smartphones to smartwatches, these devices have not only transformed communication and access to information but have also revolutionized financial transactions. 

The widespread adoption of contactless payments, enabled by near-field communication (NFC) technology, exemplifies this shift. Now, recent developments in wearable technology are further driving the adoption of contactless payments, as tech industry giants actively integrate this functionality into wearable devices.

Telecommunications giant Airtel, in collaboration with lifestyle brand Noise, has recently launched a smartwatch, equipped with contactless payment capabilities, offering users a stylish accessory that doubles as a secure payment tool.

Ganesh Ananthanarayanan, COO at Airtel Payments Bank, emphasized the empowerment of customers through wearable technology integration, enabling greater freedom and flexibility in daily transactions. 

“By integrating contactless payment capabilities into wearable technology, we empower customers with greater freedom and flexibility in their daily transactions,” Ananthanarayanan said in a Mar. 19 report by The Economic Times. “This smartwatch is the first wearable device the bank has launched.”

Meanwhile, Samsung is exploring the incorporation of contactless payment features into its upcoming Galaxy Ring — the company’s first ring product, which is due to hit stores this year — potentially expanding the utility of wearable devices beyond health tracking.

“We have a whole … team that is looking at that,” Hon Pak, head of Samsung’s digital health team, said, per a Feb. 26 PYMNTS report. “But I think clearly looking at multiple different use cases for the Ring beyond just health, for sure.”

These advancements come on the heels of Apple’s reported offer to grant competitors and third parties access to the NFC chip on iPhones, potentially resolving a longstanding EU antitrust case. The move could address concerns regarding Apple’s alleged restriction of NFC chip access, which hindered competitors from launching tap-to-pay services on Apple devices.

As the European Commission (EC) awaits feedback on Apple’s proposal, the outcome of the market test could have far-reaching implications for competition in the contactless payment market. 

“If the market test indicates that the commitments address the competition concerns, the Commission may adopt a decision making them legally binding on Apple. […] If Apple does not [honor] such commitments, the Commission can impose a fine of up to 10% of the company’s worldwide turnover, without having to prove an infringement of the EU antitrust rules,” the EC wrote in a Jan. 19 press release.

With various stakeholders, including wearable technology players, vying for prominence in this rapidly evolving landscape, the future of contactless payments remains dynamic and full of possibilities. The potential resolution of the EU antitrust case against Apple could pave the way for increased competition and innovation in the contactless payment market, benefiting consumers and driving further innovation in the payments space. 

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New, high-profile introductions have accelerated due to recent events like the Consumer Electronics Show and Mobile World Congress (MWC). On the other hand, niche players have also become more aggressive providing new use cases for the category.

And while some companies are working to create a “super wearable” that unites disparate fitness data sources, others are sticking with the proprietary approach. These dynamics have put wearable innovations back on the agenda for a huge consumer market. PYMNTS research as of November 2022 put that market north of 96 million U.S. consumers.

However, interoperability and data usage has become an issue, as seen with the most recent product introductions. Samsung used MWC to introduce a coordinated series of connected devices featuring its first-ever smart ring. Called the Galaxy Ring, it will compete with Oura and eventually, Apple.

Like other smart rings, it ticks all the boxes for personal health data, from movement to sleep to heart rate and more. The Galaxy series leans heavily on mobile AI, and one of its selling points is its ability to aggregate at least some of the data a consumer will get from watches, headsets, glasses and other more niche products such as headbands that track brainwave activity.

Samsung’s new Galaxy series, introduced at MWC, uses the phone as the AI-driven hub, connecting the ring, Galaxy Watch, Galaxy Book series of laptops and even the smart home Internet of Things platform. The company’s positioning distanced itself from the hype surrounding the ring, focusing instead on the data issue.

“One of the biggest challenges the healthcare industry is facing today is fragmented data and how to bring it all together,” said Samsung’s Dr. Hon Pak, vice president and head of the digital health team. “Our vision is to improve the health of billions through connected care centered around the home by connecting devices, services and people.”

The Galaxy Ring will only interact with Android OS platforms and Samsung products. But Pak’s mission to unify data is one that wearables manufacturers are taking seriously.

For example, Google recently announced that its Google One data subscription platform will include Fitbit. A short time before that, it announced that the redesigned Fitbit app through Health Connect will include data from other wearables and apps like AllTrails, Oura Ring and MyFitnessPal.

Consumers can access the Fitbit app via any Android phone, head to the “You” tab to see all the connected data such as steps, calories burned, floors climbed and distance traveled from Health Connect-compatible apps.

Google has not made any announcements about a potential ring introduction, although it did file a patent for one in 2015.

Oura — which is valued at $2.55 billion — isn’t stopping at its Google partnership. It announced a new integration on March 5 with digital exercise community Strava, which claims 120 million users. Strava doesn’t have a wearable and Oura needs user growth, so the partnership makes sense for both.

Strava’s announcement sounded the data unification theme. “Strava further defines itself as the nucleus of their active life, connecting health inputs from more devices to tell the full story of an athlete’s performance and improvement,” it stated.

Other more niche players are also leading with data, many of them designed to address specific health conditions. Dexcom, for example, provides glucose and insulin level data in real-time via a wearable that sticks on the patient’s skin.

At Los Angeles’ Cedars-Sinai Medical Center, research is going much deeper into potential disease diagnosis, based on the data produced by a customized wearable device. For example, according to Dr. Joseph Schwab, director of the Cedars-Sinai Center for Surgical Innovation and Engineering, when a doctor uses a reflex hammer above your knee to test for a reflex reaction, they are only able to identify the presence or absence of the reflex. Wearable devices in development can measure the reflex response, assign data points, and provide a more complete report to the doctor.

“Consumer wearables on the market are essentially motion trackers,” Schwab said. “They may have an accelerometer or gyroscope that can simply measure your position or motion to track steps and other data. What we’re doing is different in that our devices are sending energy — in the form of light, electrical energy and sound — into the tissues, and we can measure that energy as it leaves the tissue, and we can deduce things based on how the energy was affected by the tissue.”

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To address these changing consumer needs, brands like ŌURA are not only enhancing their product capabilities, but also expanding their educational efforts. 

In an interview with PYMNTS, Doug Sweeny, chief marketing officer at ŌURA, shared insights into how the brand has endeavored to meet this consumer demand by providing a distinctive fusion of fitness and fashion. Furthermore, he discussed the brand’s strategies for reaching consumers and helping them understand why this accessory is a must-have. 

“The app itself has become a ritual; people check their scores in the morning and discuss them with their partners, friends, and family, both digitally and in person. They find value in the messages we convey through the app, particularly through guidance and alerts, such as when their readiness score shows a decline,” said Sweeny, noting ŌURA’s differentiator to other fitness trackers in the market. 

As a result, the company has discovered that ŌURA customers fully grasp the value of the offering, making it a product well worth bringing to a broader audience. 

ŌURA’s Gucci Collaboration

Last year, ŌURA teamed up with the luxury brand Gucci to launch the Oura 3 ring. 

The wearable product showcases Gucci’s logo along with an 18-karat yellow gold braided torchon running along the exterior of the band. The ring, on the other hand, has been crafted from black PVD-coated titanium and is available for purchase at a retail price of $950. 

Teaming up with Gucci provides ŌURA with an opportunity to access this market segment and introduce its technology to a previously untapped audience. This collaboration effectively introduces the ŌURA ring to fashion-savvy individuals who may not have previously explored wearable technology. 

Furthermore, not only does the inclusion of luxury materials, intricate designs, and the brand’s logo make the ŌURA ring more appealing to consumers who value both style and functionality, but it also lends credibility and prestige to ŌURA’s product as it conveys the message that the ŌURA aligns with high-end fashion standards. 

Tapping Tech Enthusiasts

However, ŌURA’s aim extends beyond merely targeting luxury enthusiasts. Sweeny highlights that the company is determined to make its product accessible to anyone who values health and wellness, which encompasses technology enthusiasts who frequent retailers like Best Buy. 

“We launched in April with Best Buy. It was a big part of our playbook,” said Sweeny.  

With that, Sweeny notes that the ŌURA team looked to bring a shop-in-shop experience to educate consumers through the use of videos, storytelling, and a digital touchpad that offers a comprehensive understanding of the product experience. Sweeny also highlights that this approach extends across a vast network of approximately 900 locations, both in digital and physical retail spaces throughout the United States. 

Building on the success of their initial launch, ŌURA decided to extend its presence to Best Buy’s Canadian market. According to Sweeny, this move was a logical choice, as Canada is recognized as one of the top three key markets for the company, following closely after the United States. Consistent with their strategic approach, ŌURA introduced a shop-in-shop experience in 124 Canadian locations, with 25 of these prominently featured within the largest format doors, to boost product awareness and education. 

Deepening Its Connection

Earlier this year, ŌURA introduced the Equinox partnership, a collaboration that Sweeny notes had been in development for over a year. 

This particular collaboration represents a significant step in credibility and trust, as Equinox is known for its fitness services and facilities. Partnering with such a brand essentially confirms ŌURA’s effectiveness and relevance within the fitness community and acts as a reassuring signal to fitness enthusiasts. 

As part of Equinox Circle, a program of curated brand partners, ŌURA launched a co-branded Rest & Recovery Kit which was made available for purchase online at the Equinox Shop for both members and non-members. 

The Rest & Recovery Kit includes a range of components, such as a selection of Oura Ring finishes, an ŌURA x Equinox branded ring cover, charger, leather pouch, and a one-year Oura Membership. The ring cover, a unique accessory, offers ring protection during weight training, strenuous workouts, and various other activities. 

Sweeny further emphasizes that within its app, ŌURA has integrated a comprehensive referral program that enables users to refer their friends while gaining access to a diverse selection of partner rewards. These rewards encompass unique collaborations, such as Aloe’s yoga mats and premium sleep masks. The scope of these partnerships goes beyond just the member referral experience, encompassing broader collaborations with more deeply integrated features. 

Additionally, Sweeny emphasizes that these partnerships, exemplified by their affiliations with Natural Cycles, Strava, Equinox, and Gucci, frequently entail the development of custom hardware solutions. 

What Makes ŌURA Different

Sweeny notes that people often spend their days fixated on screens, occasionally diverting their attention to smartphones for updates, videos, or social media. However, ŌURA changes the dynamic for users, empowering them to assume a more active role. With ŌURA, technology seamlessly blends into the background, giving users the upper hand. 

Individuals can interact with ŌURA’s data and insights according to their preferences, free from external prompts. This experience stands in stark contrast to the typical routine of waking up to an alarm, being reminded to stand up, or coerced into physical activity. ŌURA looks to create a unique, self-directed approach to engaging with personal health information and insights, enabling individuals to take charge of their well-being. 

“It’s all about balance, not just taking more steps and pushing yourself harder. It’s a discreet, specific approach, attuned to your body’s signals. Emphasizing equilibrium, it’s personalized. It also focuses on rest and recovery, alongside physical activity and other aspects,” said Sweeny. 

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Wearables and other healthcare monitoring tech were just catching on when COVID-19 hit, and the crisis in many ways set the perfect stage for wearables to be propelled into widespread popularity.

With doctor offices at first being shuttered during lockdowns and then notoriously difficult to find appointments for, digital tools became a bridge. Many consumers had wellness on the mind and were particularly attuned to their heart rate, oxygen levels and temperature for both routine and specialized health purposes.

Use of these digital healthcare-related tools has extended beyond the pandemic’s emergency status, and PYMNTS’ data suggests that wearables and health monitoring technologies are on track to become a permanent part of participating consumers’ daily lives.

Along a slightly bumpy upward trajectory, adoption of health-monitoring tech is on the rise, illustrated in the PYMNTS collaboration with CareCredit, “Connected Wellness: Tracking The Rise Of Health-Tracking Technology.” Here, all three tracked categories — use of a health-monitoring website or app, use of at least one health-monitoring technology and health-monitoring wearable use — have seen upticks.

With healthcare app and tool use (a category that includes wearables) overall growing 21% between November 2021 and November 2022, the report finds that, “health-tracking technology is the single most used connected health technology in the U.S. Roughly one-third of consumers used other connected health technologies last month, including telemedicine appointment portals and social exercise.”

Health-monitoring wearable use is led by Gen Z, and PYMNTS’ March “ConnectedEconomy Monthly Report” found that 30% of the generation use these tools daily. Millennials weren’t far behind, with 27% saying the same. This strong adoption by younger generations gives credence to wearable and other healthcare-monitoring tech’s staying power. And with both runway-ready and robust wearable jewelry coming to market, some companies are seeing a path to profitability in this niche.

Wearables and other healthcare technologies may have gained popularity during the pandemic, but they are now enjoying adoption into consumers’ daily lives on their own. And as other installments of this miniseries will illustrate, some of the biggest digital gains from the recent health crisis are set to allow consumers to be more connected permanently.

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