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BizReport : Mobile Marketing : September 21, 2016

Consumers: Smartwatches ugly and expensive

While early adopters rave about smartwatch purchases, the craze hasn't caught on in the way many mobile developers were hoping - and the cost is part of the problem. That's the takeaway from new First Insight data, which found the sweet spot for pricing on these items is under $200.

by Kristina Knight

"The smartwatch market is facing multiple challenges, but the biggest seems to be that - to date - no smartwatch on the market really holds value for consumers. From Apple's entry into the market to the expectation of how smartwatches could impact our lives, the hype has not materialized," said Greg Petro, CEO of First Insight. "Now is the time for smartwatch manufacturers to get smart. They must take time to understand what consumers really want and abandon preconceived notions regarding design and functionality that have led to the market's decline before it even had a chance to take root."

Some interesting takeaways from the report include:

• 75% of women and 60% of men want to pay under $200 for a smartwatch
• Many describe existing smartwatches as 'ugly' or 'bulky'
• 92% are not brand loyal to tech companies, at least where smartwatches are concerned
• 37% say the features/function offered are most important
• 25% say pricing is the most important

Tags: First Insight, IoT trends, mobile device trends, mobile marketing, smartwatch trends

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