PriceSpy data suggests Kiwis are moving with the time



24 January 2020

PriceSpy
data suggests Kiwis are moving with the time, as popularity
for smart watches
soar

New data
from PriceSpy indicates popularity** for
wearable fitness gadgets is on the up, as historical clicks
received for smart watches increased by over two
thirds (68 per cent) in January 2020 compared to January
2019*;

The research also found the
number of shoppers clicking on fitness watches grew by almost two
fifths (38 per cent) for January 2020 vs January
2019*;

Traditional activity trackers however were not as
popular – as online clicks dropped by almost a fifth (-19
per cent)* year-on-year (January 2020 vs January
2019*).

New data from the fully impartial price
and product comparison site, PriceSpy, suggests Kiwis are very much
behind the fast-moving world of wearable tech
products.

According to historical click data from PriceSpy, the shopping category for smart watches has already increased in
popularity in 2020, receiving almost 70 per cent (68 per
cent) more clicks in January 2020 compared to January 2019*.
Rather impressively, the shopping category of fitness watches also increased by almost
40 per cent (38 per cent) over the same period of time*.

Not all wearable fitness gadgets however grew at the same
rate, as the PriceSpy research found the shopping
category for traditional activity trackers, which include
products such as the Fitbit Charge 3 and Fitbit Inspire HR, dropped in clicks by
almost a fifth (-19 per cent) year-on-year*.

Liisa
Matinvesi-Bassett, New Zealand country manager for PriceSpy,
says:
“Our latest findings highlight just how
much wearable fitness gadgets have taken off in New
Zealand.

“January is obviously one of the biggest times
of the year that consumers look to invest in health and
wellness products but compared to just one year ago, the
percentage of shoppers clicking on smart watches in particular has grown
phenomenally, increasing 68 per cent.”

Quick
facts

• The wearable tech industry was
reported worth nearly $23 billion in 2018 and this figure is
expected to grow at a compound annual growth rate (CAGR) of
19 per cent to reach $54 billion by 2023 (source: globaldata);
• The number of
connected wearable devices worldwide has more than doubled
in the space of three years, increasing from 325 million in
2016 to 722 million in 2019. The number of devices is
forecast to reach more than one billion by 2022 (source: Statista);
• In 2023, it is
projected that 131.6 million smartwatches will be shipped
worldwide, up from 91.8 million units in 2019 (source: Statista).

Liisa continues: “Whilst
popularity for wearable fitness gadgets continues to grow
rapidly, our insights suggest not all products are as
popular as others. For example, the percentage of clicks
received for traditional activity trackers dropped by almost one
fifth year year-on-year*.

“What’s particularly
interesting about this is consumers appear to be clicking
more on wearable fitness gadgets that have a considerably
higher price point, suggesting shoppers are looking to
invest in this market for the long run.”

“In terms of
leading wearables fitness gadget brands, our data shows
Fitbit, Samsung and Apple were most popular with Kiwi
shoppers in 2019, as well in 2020 so far. But it’s not
just the usual tech companies that are putting their stake
in the ground, as fashion designers such as Louis Vuitton
are getting in on the action, selling wearable tech products
costing up to $7300 NZD.”

Shopping category YoY
growth/decline (January 2020 vs January 2019)
Lowest
price (from top ten most clicked products for 20 January
2020***)
Highest price (from top ten most clicked
products for 20 January 2020***)
Smart watches 68 per
cent
$219 $709
Fitness watches 38 per
cent
$309 $1099
Activity trackers -19 per
cent
$59 $249

Liisa
concludes: “For those who are in the market for a new
wearable fitness gadget and are unsure what your money can
buy, our key recommendation is to use a price and product
comparison site or app, such as PriceSpy to do your buying research
first.

“Using such a site or app will help shoppers in
more way than one. Firstly, they can make sure they are not
paying over the odds for an item that may cost considerably
less elsewhere. Secondly, consumers can compare the features
of multiple wearable fitness gadgets in one place, so they
can invest their money wisely and choose the best product
that best suits their individual needs.”

Download the PriceSpy
app here.
www.pricespy.co.nz

-ends-
Media
contact for PriceSpy:
For further information about PriceSpy or to set up an interview with
a spokesperson (please allow a time difference of -12hours
from NZ time), please contact Lindsay Stanley on + 64 212
884411 or email lindsay@lspr.co.nz.

Notes to
editor:
*Year-on-year data compares 1 – 20 January 2020
to 1 – 20 January 2019
**Popularity is based on the
number of clicks each product within a shopping category on
PriceSpy
***Prices and popularity
figures are correct as of 20 January 2020.

About
PriceSpy:
PriceSpy is a comprehensive price and
product comparison service used by millions of consumers
every month. It helps consumers find, discover, research and
compare products.

PriceSpy has 108,000 indexed products,
1,730,000 indexed prices, 584,000 product ratings, 7,510
store ratings and 1183 stores. Providing a fully impartial
comparison service for consumers and a deep depository of
price data for retailers.

The PriceSpy app is available to download
for free, via the App Store and Google Play.

Prisjaktlaunched in
the year 2000 and is Sweden’s largest price comparison
service. The service is known in Sweden and Norway
asPrisjakt, and in the UK, Ireland and New Zealand
asPriceSpy.

ends

© Scoop Media

 



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