Remember Snap’s Spectacles? Launched in fall, 2016, Spectacles were fashionable sunglasses that could record 30-second videos with a 115 degree lens. The specs were $130 and initially sold only through fun, bright yellow, SnapBot kiosks placed around the U.S. There was a lot of hype and fervor from teens to procure the sunglasses and post their videos. Roughly 220,000 Spectacles were sold, but only half of the owners used them after the first month, and Snap took a $40 million write-off after making too many. But, the company learned a lot from its first foray with Spectacles, and is now ready for the next iteration.
So, get ready for Spectacles Version 2. The new glasses are priced at $149.99 and have a number of new features and improvements over version 1. The case is smaller and handier to carry around, and it charges the glasses up to four times. The glasses are lighter and more comfortable and the field of vision has been reduced to 105 degrees. In addition to video, the glasses now take photos – which of course can be posted online.
Colors are new and more neutral with two lens versions, and the pairing process is much simpler than version 1. High quality photos and fast downloads improve the overall user experience. The glasses are now water resistant and can even take photos underwater. Spectacles are now on sale in the U.S., Canada, U.K., France, to be followed by 13 more European countries.
Fortunately, no more SnapBot vending machines to limit purchases – it’s easy to buy since all that’s needed is to go online to Snap to purchase. It really is a wearable camera.
Go ahead – smile, you’re on Spectacles!h
Group Activities and Discussion Questions:
- Discuss the strategy that Snap is using to position itself as a camera/hardware company rather than a social media company.
- Show the Web site: https://www.spectacles.com/
- Show a product review video: https://youtu.be/DRqZoINHCwM
- A short product video: https://youtu.be/Qpbyj-hz05s
- Pricing is usually a complex topic. Discuss the six steps for pricing (determining objectives, estimating demand, determining cost/profit relationships, select price level, set list price, and make adjustments).
- Discuss the various pricing models in class: demand-oriented, cost-oriented, profit-oriented, and competition-oriented.
- What price strategy is Snap using for Spectacles version 2?
- How does this compare with version 1? Will this be successful?
Source: Constine, J. (26 April 2018). Snapchat launches Spectacles V2, camera glasses you’ll actually wear. TechCrunch.