With Black Friday (News - Alert) afoot and the holiday shopping season poised to start — though for many it's already begun — industry analysts are speculating about the winners and losers of the season. Argus Insights' new report on the wearable tech market shows a couple items should be very popular, including one product that’s a bit out of the blue.
Argus' report analyzes over 6,000 wearable consumer reviews over a five week period to discover the two big items in the field. The first won't surprise many, as it's the Apple (News - Alert) Watch. The second may be more of a shock, as it's a comparatively new product called the Lumo Lift Posture and Activity Tracker. The two devices share a similar outlook from the consumer, as well as a similar projected demand.
However, the Argus report also exposed some weakness in the overall market. It pointed out a sustained drop in demand for wearables, down 4.36 percent over October 2014's numbers. Interestingly, consumers also seem less price-sensitive about smartwatches, with Apple's products getting the best reviews. Pebble Time Steel and LG Watch Urbane are also getting good buzz, proving that the higher-end systems are doing surprisingly well.
Old predictions on the market hold true, with fitness-related features leading the way. While smartwatches do often provide these, consumers are less interested in other options. Features like step counting, calorie burning tracking and heart rate monitoring are top of the list for many, while email and text message options lag.
While consumers are looking more toward fitness trackers than full smartwatches, smartwatches are providing a lot more consumer satisfaction than fitness trackers seem to be. Even when the fitness trackers are providing what users want most—heartbeat monitoring—there still seems to be a lot missing from the field. The Lumo Lift's likely success should be a clear signal to other wearable makers about what's most desirable for these devices, and the Apple Watch's prominence suggests that price isn't so much an issue if the value is present. With Apple Watch recently ramping up its holiday marketing efforts, these may pay off particularly well.
Edited by Kyle Piscioniere
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