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Retailers Weigh Apple Watch Impact on Commerce

While introducing the company’s new smartwatch Tuesday, Apple Inc. CEO Tim Cook said,  “This product will redefine what people expect of its category, and it’s the next chapter in Apple’s story.” The Apple Watch, which goes on sale in early 2015, is one of a kind. It essentially offers all of the features and functions of all of the wrist wearables available today (from smartwatches to fitness bands) in one device, and then adds more on top of that, most notably a near field communication, or NFC, chip that will enable users to pay for goods in stores using their watch and Apple Passbook mobile wallet app.

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