Consumer Interest In Wearables “Fading Fast”

According to a new report from Argus Insights, the demand for wearable technology in general, and fitness technology specifically, has dropped significantly since reaching its peak in January 2015.  In this Media Post article, Aaron Baar points out that the wearable technology market includes smartwatches, glasses, fitness bands, and other sensor-enabled devices.  

John Feland, CEO and founder of Argus Insights, believes that consumers use their fitness devices for a few months, then lose interest in these products. Consumer delight (based on the volume and content of consumer reviews analyzed by Argus Insights) has dropped.  Feland states that “sales are still growing year-to-year, but interest is sliding.”

In contrast, delight for Apple Watch and other smart watches is increasing.  However, the consumer base for smart watches is still largely limited to early adopters. The expense is still a consideration for many consumers.  A killer app that makes the device essential may extend the market to mass consumers, according to Feland.

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Demographics of Wearable Users

According to NPD, one in ten US adults owns a fitness tracker. 36% of owners are ages 35-54, 41% have an average income above $100,000, and 54% are women. Smartwatch owners, on the other hand, skew mostly male (71%), 69% are ages 18-34, and 48% have an income under $45,000 . Penetration is also lower, at only 2% of the market.

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One in Five Americans to Purchase a Wearable in the Next Year

Research from Ipsos reveals that 18% of American adults say they will probably or definitely purchase a wearable device in the next twelve months.  Fitness monitors and watches are among the products likely purchasers are most interested in, followed by jewelry, glasses, and contact lenses. Read more »

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