Wearables reached the common people due to reduced prices

Wearables reached the common people due to reduced prices: sales of gadgets like digital watches and earbuds increased by 66%, sales more than doubled

Aug 18, 2022 - 10:49
Wearables reached the common people due to reduced prices

The sales of wearables such as digital watches, smartwatches, wrist bands and earbuds grew 65.8% in the domestic market during the first half of the year. A total of 3.8 crore wearables were sold during this period. The special thing is that in the April-June quarter, the sales of wearables more than doubled by 113% to 2.39 crores.
According to the report of wearable device tracker International Data Corporation (IDC), one of the reasons for the increase in the sales of wearables in the Indian market is new launches, discounts and aggressive marketing strategy. But the price phenomenon is the biggest reason for this. In fact, for the past few years, the prices of products like digital watches, smartwatches, wrists bands and earbuds have been decreasing continuously. This has brought them within the reach of common people.
According to the report on Wednesday, the average selling price (ASP) of wearables has decreased by up to 7.2% in the June quarter. The ASP of entry-level devices in the watch category has seen a reduction of up to 29%. Their average price has come down to Rs 3,500 from Rs 5,000 last year. According to IDC, the sales of wearables in the country are expected to cross the record 90 million mark this year.
According to Upasana Joshi, Research Manager, IDC India, the prices are continuously coming down due to competition among the brands. Apart from this, features like Bluetooth calling, a bigger screen and an AMOLED display which used to come in the mid/high range are also now available at lower prices. Due to this, first-time users and gadget upgraders are getting attracted to them.
Navkendar Singh, AVP, IDC India, South Asia and ANZ, said that the demand for wearables has now shifted from urban areas to towns and villages. The reason for this is affordable products and an aggressive marketing strategy.

Muskan Kumawat Journalist & Writer