Watches to Beat Phones This Holiday Season

NEW DELHI : Wearable devices are poised to become the fastest growing product categories among consumer electronics, including smartphones, this festive season and this year, largely due to their average selling prices prices that won’t impact consumers’ wallets as much as other product categories that have seen their prices rise due to inflation and rising input costs.

Trend watchers expect consumers to buy wearables, smartwatches, headphones or wireless headphones on a smartphone this festive season as the price of around $45 per piece would pinch their pockets a lot. less than an upgrade to a new appliance or even the purchase of a new appliance. .

“This season is going to be tough everywhere except wearables and hearing aids, as consumer wallets have been hit by prices for daily use products which have had a negative impact on household budgets. We expect whether these categories are the only ones seeing growth among consumer electronics or home appliances,” said Navkendar Singh, Associate Vice President for Device Research at IDC India, South Asia & ANZ.

Smartwatch and wireless headphone makers BoAt, Noise, Fire-Boltt, OnePlus and Realme, which captured 66% of the market by volume, saw the market size increase by 65% ​​compared to last year for reach 38 million units, indicating a proportional increase in the number of buyers for their products in the first half of this year compared to the same period of the previous year.

IDC expects the market size for this category to reach a record 90 million units in 2022, nearly three times larger than the 34.4 million units shipped in 2021. In comparison, shipments smartphones in 2022 are not expected to show strong growth compared to 161 million units in 2021, which is 7% more than 2020 shipments.

“Smartphone (sales growth) has plateaued, home appliances are facing inflationary discomfort, but wearables, especially entry-level ones under 2,500, have seen tremendous growth. Even companies with up to 500 employees prefer to give away wearables during the holiday season. Therefore, the growth is expected to outpace that of other parallel product categories,” said Faisal Kawoosa, founder of research firm TechArc.

In addition to affordability, features such as Bluetooth calling, larger screens and AMOLED screens, which were previously available at medium or high prices, are being introduced at lower prices, attracting new and existing users. looking for upgrades. Demand is not only coming from urban centers, but also from Tier II and Tier III cities, which in turn creates space for new entrants. “As smart wear adoption in India undergoes a metamorphosis, we have doubled the category’s production to meet increased consumer interest,” said Vikas Jain, co-founder of wearable wear brand Play.

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About Anne Wurtsbach

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