Wearables, Apple-esque symposiums, fitness data sharing, connected platform thinking…enough to make your head hurt? Take a pain killer for the headache and brace yourself. Social products are here to stay…tipped to reach between $30 – 50 billion over the next 5 years and according to Business of Fashion, social products are set to be the next major technology battleground.

Products are no-longer simply ‘connected’…they are social in ways you may or may not be ready for. Imagine creating a walking club where all your data is shared…great if you’re motivated and have stuck to your gaols, not so great if you opted for the couch and a tub of ice-cream. Cars that talk to each other and to their drivers are another example…

According to Hardvard Business Review, “In an age of social products, competitive advantage comes not from product features but from network effects.  Companies succeed by having products that better leverage the intelligence of the network of other connected products. This is a shift in mindset from standalone-product thinking to connected-platform thinking”.

Familiarise yourself with the new technology battleground by reading more here