The company behind Snapchat lost a whopping £30m after its snapchat video glasses failed to sell, educogym Canary Wharf investigate why it failed so miserably.
The spectacles launched in September 2016, and were sold originally through pop-up vending machines, the idea is that a button on the glasses records a video of what you can see and can be shared on snapchat through the app. But due to cancelled orders and excess products, the company was hit with £30 million. “lately a huge number of gadgets and glasses have been coming out, they are progressively developing so that you can play 3D games on them, watch movies and more, I think the idea of the glasses is fun, but it should have been more detailed, with other options than just the video to have succeeded” stated Orlstyne Wilson, a member of educogym Canary Wharf’s personal training team.
The spectacles are a vibrant blue in colour, and cost $129, not the cheapest for a Snapchat accessory. “£100 pounds is a big commitment to a social media accessory, you would have to be really into snapchat to want to spend that sort of money on an accessory that enables you to snap relatively handsfree, it also isn’t a huge amount different to using your phone so I can see why it may not have been as popular as they planned” stated Godfrey Nurse, a member of educogym’s personal training team in Canary Wharf.
Many customers also complained that alongside the price, the picture quality and resolution was poor in comparison to their phones and mobile devices “For something like this to succeed it needs to be outstanding and exciting. If you buy an accessory for your phone or social media, the quality has to be good, if photos and videos on Snapchat come out better on your mobile or tablet, then why purchase something that produces such bad quality in comparison, it may be fun for a few uses but after that I am sure many saw it as a waste of money. It is a shame, as it is such a fun modern idea, but the whole product needs some tweaks to become successful” explained Orlstyne Wilson, personal trainer at educogym Canary Wharf.
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