In this chapter, using a combination of the expectation-confirmation theory (ECT) and the latent variable model, the authors have analyzed what factors contribute to one's intention to continue usage with conformation, performance expectancy, and satisfaction. Based on a sample of 678 smart wearable users, collected from Northern India, the authors have used structural equation modelling (Smart PLS4) and identified the impact of satisfaction post-adoption technology, willingness to pay a premium price, and health information accuracy on the continuing intention of smart wearable users. According to the findings, consumer satisfaction, health information accuracy, and willingness to pay the premium price are key variables that have a substantial impact on the long-term purpose to repurchase and use smart wearables. This study has many implications for smartwatch manufacturers and designers looking to increase users' intent to continue using their products.
Top1. Introduction
Wearable computing devices such as smartwatches, wristbands, and health and fitness monitors have seen a meteoric rise in popularity in recent years. There is a subclass of smart wearable gadgets known as the smartwatch. Put simply, It's a wristwatch with computational capabilities that can connect to other gadgets thru short-range wireless communication, send out alert messages, collect and store personal information from a range of sensors, and even function as a timepiece. Smartwatches provide users with convenient, on-the-go access to their digital information, including text messages, alerts, and other data. Wearable technology has a lot of promise and is becoming increasingly accepted as a novelty technology(Cecchinato et al., 2015). Due to the incorporation of Cellular connectivity, sophisticated electrical structure, and autonomous dispensation capability into models that can be worn on the body, smart wearable gadgets have formulated technology more personal and easier to use than ever before.(Lee et al., 2020). Wearable technologies, and in particular smartwatch technology, are fascinating new areas of study because of the continuous and precise data collection they enable, as well as how they might be used to augment human capabilities.
The continuous use of technology is beneficial to businesses for several reasons, not the least of which is the fact that getting a new customer costs five multiple as much as retaining an existing one. (Pinto & Nascimento, 2016). Attracting new customers and encouraging usage is just the beginning; in addition, businesses need to find ways to keep the consumers they now have by making it easier for them to make further purchases(Gao et al., 2015)smartwatch might be motivated by several factors, including novelty, peer influences, marketing, or simply being an early adopter. The more frequently they use it, the simpler it will become for them to use it. While it's true that new smartwatches are only introduced about once a year, on average, it's necessary to have a look the big image of app-sales to appreciate just how crucial it is that users keep using their devices. In 2023, it is expected that smartwatches will ship 109.2 million units worldwide, reflecting the continuous demand from consumers.(Singh et al., 2022). Apple now has the greatest market share for smartwatches, followed closely by Samsung. (Worldwide Wearables Market to Top 300 Million Units in 2019 and Nearly 500 Million Units in 2023, Says IDC | Business Wire, n.d.). The revenue generated by app developers in 2020 was almost $643 billion, representing a 24 per cent year-over-year growth in billings and sales(Apple Developers Grow App Store Ecosystem Billings and Sales by 24 Percent in 2020 - Apple (IN), n.d.)). The longer a customer uses a device, the more likely it is that they will purchase additional apps, leading to increased revenue.
An estimated 68.56 million units of smartwatches were supplied worldwide in 2020 (Smartwatch Market Size, Share| 2022 - 27 | Industry Report, n.d.), and a significant boost in online sales lowered various other costs. Smartwatches, by their ability to include the features of other wearables like fitness trackers, maybe the only devices capable of satisfying the three fundamental psychological needs which are, according to the principles of self-determination theory, people thrive when they have a sense of autonomy, competence, and belongingness. (Ryan & Deci, 2000). Wearing a smartwatch constantly allows users to make use of its features, many of which need proximity or even skin contact to work.