Smartwatches have become the new favourite among young consumers thanks to increased health consciousness and a recent push from brands during online festive season sales, industry executives told ET. These devices<\/a> have emerged as a ‘lifestyle asset’ for consumers aged between 18-24, who drive the majority of sales in the segment. 市场调查公司的一份报告对位周二晚说电子商务节日期间销售印度是世界上最大的smartwatch市场由体积,超越美国。 Smartwatches成为新的最喜欢在年轻消费者由于提高健康意识和最近的推品牌在线节日期间销售期间,业内高管告诉等。这些设备已成为一个“生活方式资产”消费者年龄在18 - 24,他把大部分的销售环节。
A report by market research firm Counterpoint on Tuesday night said ecommerce festive season sales made India the largest smartwatch market<\/a> in the world by volume, surpassing the United States.
Arnav Kishore, cofounder and CEO of Fireboltt<\/a>, the second-largest smartwatch brand in India, told ET it was difficult to keep up with the demand for smartwatches this festive season and that his company lost out at least 40% more sales because of this.
“This festive season was record-breaking and one of the factors is that prices have come down,” he said. “The number of brands is increasing and the product offering is increasing.”
Noise and Boat are the other two key firms in the segment that are expanding aggressively. Noise CEO Gaurav Khatri said his firm saw growth of over 200% and sold more than two million smartwatches this festive season.
He said smartwatches are gaining popularity because they serve two purposes -- a fitness companion and a lifestyle asset. Adoption accelerated after features like SPO2 (oxygen measurement tool) became popular during the pandemic, he added.
The main drivers of the record sales in Q3, apart from festive season sales, were bigger product portfolios at affordable prices, and an emphasis on local manufacturing, according to the research firm. The Indian smartwatch market grew 171% year-on-year in the third quarter, it said.
\"During Diwali and Rakshabandhan many people considered smartwatches as a gifting option and companies also started considering smartwatches as corporate gifts. Brands also launched multiple products and priced them aggressively during the festive season and products were even being sold at Rs 999,\" Anshika Jain, a senior analyst of Counterpoint, told ET.
Online push<\/strong>
Sales of smartwatches have largely been driven by online channels as most buyers are young.
“During the January-October period this year, the demand for smart wearables has grown by over two-fold on our platform as against the same period last year, with tier-2 cities and beyond constituting over 60% of the overall demand,” a Flipkart spokesperson told ET.
Amazon India said it saw a surge in demand, with people aged 18-24 buying smartwatches from all the major brands – Noise, Samsung<\/a>, OnePlus<\/a>, Apple<\/a>, Fire-Boltt, and Boat.
“We have been utilising various innovative channels such as video catalogues, buying guides, video commerce, and influencer marketing to further engage and inform our customers about the various new products available in this segment,” the Flipkart spokesperson said.
“These consumers are young and belong in the online-driven age group. The low price point enables online sales,” said Jain of Counterpoint. “The offline space is dominated by premium players like Samsung and Apple and these devices warrant 'feel and touch'.”
Indian brands dominate<\/strong>
The top Indian smartwatch brands -- Noise, Fire-Boltt and Boat -- have a combined market share of 66%, the report said. Jain attributes Indian companies’ dominance to their attractive pricing, product portfolios and refresh of existing models.
During the third quarter, the top three brands had more than 90 models each, up from around 75 in the second quarter.
“It shows how frequently Indian players are upgrading their portfolios and tweaking them according to customer requirements. Indian players have been quite good at product refresh. That is why they are doing well,” said Jain.
Chinese brands like Xiaomi and OnePlus products are priced above Rs 5,000 and some of them lack features such as Bluetooth calling, whereas Indian brands have added features like bigger Amoled displays that are typically found in high-end products like the Apple Watch.
Competition in the space is heated. Noise has a mere 1% lead Fireboltt, and Boat recently raised $60 million from Warburg and Malabar Investments through convertible preferred stock notes. It is expected to use this money to build its wearables brand.
ET reported on November 29 that Noise is looking to enter markets outside India<\/a> and that the company is open to raising funds.
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印度smartwatch节日推动销量猛增,健康意识
市场调查公司的一份报告对位周二晚说电子商务销售使印度最大的节日期间smartwatch市场在世界上,超过了美国。
Arnav基肖尔,创始人兼首席执行官Firebolttsmartwatch第二大品牌在印度,告诉ET很难跟上需求smartwatches这个节日期间,他的公司失去了至少40%的销售,因为这个。
噪音和船的其他两个关键公司大举扩张的一部分。噪音CEO Gaurav Khatri说他的公司看到的增长超过200%,销量超过二百万smartwatches这个节日期间。
他说smartwatches越来越受欢迎,因为它们服务于两个目的,一个健身的同伴和一种生活方式的资产。采用加速等功能后动脉血氧饱和度(氧测量工具)流行流感大流行期间,他补充说。
记录在第三季度销量的主要因素,除了节日期间销售,是更大的物美价廉的产品组合,并强调当地的生产,根据市场研究公司。印度smartwatch市场第三季度同比增长171%。
“在排灯节和Rakshabandhan许多人认为smartwatches礼物选项,公司也开始考虑smartwatches作为公司礼品。品牌也推出了多个产品和价格他们在节日期间积极甚至产品售价999卢比,“Anshika Jain,对位的高级分析师,告诉等。
在线推
smartwatches销售很大程度上是由在线渠道由于大多数买家都是年轻。
“今年在官媒,聪明的衣物的需求已经超过了双重的在我们的平台上与去年同期,二级城市构成总需求的60%以上,“Flipkart公司发言人告诉等。
亚马逊表示,印度看到需求激增,18 - 24岁的人从所有主要品牌——购买smartwatches噪音,三星,OnePlus,苹果、Fire-Boltt和船。
“我们一直利用各种创新的渠道,如视频目录,购买指南,视频商业影响力营销,进一步吸引和告知我们的客户在这段可用的各种新产品,“Flipkart公司的发言人说。
“这些消费者是年轻,属于online-driven年龄组。较低的价格点使网上销售,”Jain说对位。“离线空间主要是高端玩家像三星和苹果和这些设备保证感觉和触摸。”
印度品牌占据主导地位
印度高级smartwatch品牌——噪音,Fire-Boltt和船——有一个综合市场份额为66%,报告说。耆那教的属性印度公司有吸引力的定价优势,产品组合和更新现有的模型。
在第三季度,三大品牌超过90个模型,从75年的第二季度。
“这表明印度的频率玩家升级他们的投资组合并根据客户需求调整它们。印度球员相当擅长产品刷新。这就是为什么他们做得很好,”Jain说。
中国品牌像小米和OnePlus产品定价高于Rs 5000,其中一些缺乏特性,比如蓝牙通话,而印度品牌增加了功能,如更大的Amoled显示屏,通常是发现在高端产品如苹果的手表。
激烈的竞争空间。铅Fireboltt噪音只有1%,船最近从华宝和马拉巴尔海岸投资通过筹集了6000万美元可转换优先股。它预计将使用这笔钱来构建这套品牌。
在11月29日报道,噪音是寻求进入印度以外的市场,公司筹集资金。
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Smartwatches have become the new favourite among young consumers thanks to increased health consciousness and a recent push from brands during online festive season sales, industry executives told ET. These devices<\/a> have emerged as a ‘lifestyle asset’ for consumers aged between 18-24, who drive the majority of sales in the segment.
A report by market research firm Counterpoint on Tuesday night said ecommerce festive season sales made India the largest smartwatch market<\/a> in the world by volume, surpassing the United States.
Arnav Kishore, cofounder and CEO of Fireboltt<\/a>, the second-largest smartwatch brand in India, told ET it was difficult to keep up with the demand for smartwatches this festive season and that his company lost out at least 40% more sales because of this.
“This festive season was record-breaking and one of the factors is that prices have come down,” he said. “The number of brands is increasing and the product offering is increasing.”
Noise and Boat are the other two key firms in the segment that are expanding aggressively. Noise CEO Gaurav Khatri said his firm saw growth of over 200% and sold more than two million smartwatches this festive season.
He said smartwatches are gaining popularity because they serve two purposes -- a fitness companion and a lifestyle asset. Adoption accelerated after features like SPO2 (oxygen measurement tool) became popular during the pandemic, he added.
The main drivers of the record sales in Q3, apart from festive season sales, were bigger product portfolios at affordable prices, and an emphasis on local manufacturing, according to the research firm. The Indian smartwatch market grew 171% year-on-year in the third quarter, it said.
\"During Diwali and Rakshabandhan many people considered smartwatches as a gifting option and companies also started considering smartwatches as corporate gifts. Brands also launched multiple products and priced them aggressively during the festive season and products were even being sold at Rs 999,\" Anshika Jain, a senior analyst of Counterpoint, told ET.
Online push<\/strong>
Sales of smartwatches have largely been driven by online channels as most buyers are young.
“During the January-October period this year, the demand for smart wearables has grown by over two-fold on our platform as against the same period last year, with tier-2 cities and beyond constituting over 60% of the overall demand,” a Flipkart spokesperson told ET.
Amazon India said it saw a surge in demand, with people aged 18-24 buying smartwatches from all the major brands – Noise, Samsung<\/a>, OnePlus<\/a>, Apple<\/a>, Fire-Boltt, and Boat.
“We have been utilising various innovative channels such as video catalogues, buying guides, video commerce, and influencer marketing to further engage and inform our customers about the various new products available in this segment,” the Flipkart spokesperson said.
“These consumers are young and belong in the online-driven age group. The low price point enables online sales,” said Jain of Counterpoint. “The offline space is dominated by premium players like Samsung and Apple and these devices warrant 'feel and touch'.”
Indian brands dominate<\/strong>
The top Indian smartwatch brands -- Noise, Fire-Boltt and Boat -- have a combined market share of 66%, the report said. Jain attributes Indian companies’ dominance to their attractive pricing, product portfolios and refresh of existing models.
During the third quarter, the top three brands had more than 90 models each, up from around 75 in the second quarter.
“It shows how frequently Indian players are upgrading their portfolios and tweaking them according to customer requirements. Indian players have been quite good at product refresh. That is why they are doing well,” said Jain.
Chinese brands like Xiaomi and OnePlus products are priced above Rs 5,000 and some of them lack features such as Bluetooth calling, whereas Indian brands have added features like bigger Amoled displays that are typically found in high-end products like the Apple Watch.
Competition in the space is heated. Noise has a mere 1% lead Fireboltt, and Boat recently raised $60 million from Warburg and Malabar Investments through convertible preferred stock notes. It is expected to use this money to build its wearables brand.
ET reported on November 29 that Noise is looking to enter markets outside India<\/a> and that the company is open to raising funds.
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