By: Dr. Lynn Reaser
U.S. consumers bought over one million Apple Watches last Friday, maxing out pre-order sales. Prices ranged from $349 to $17,000. Does it make economic sense to be an “early adopter” of such new technologies?
Four primary factors would argue “no.” First, prices will decline as competition enters the field or improved versions are developed. Second, the product still may have bugs, kinks, and defects that need correcting. Third, there may be a gap between marketing hype and reality, which will be revealed as consumers use and review the product. Fourth, apps may initially be limited.
Still, all these negatives may be outweighed by your desire to own the next “cool” thing. Indeed, it is tempting….