Answer to Question #153151 in Economics for Arran Tiwana

Question

Some articles of clothing are being developed with smart fabrics – embedded
microchips that can record and even transmit information. Briefly describe such an
example. For the shoes in your sub-market, can you think of benefits for similarly
embedding microchips into the shoe? Why or why not?

Answer 1

The benefits of embending microchips into shoes or clothing are:

1. To make such products smarter,
2. Digitize products with information and provide unique experiences for each customer,
3. For customer personalization,
4. Safety.