Wear

Wearables Usage Report - March 2024

As we saw in the Spring 2024 Wearables Ownership Report, smartwatch growth has stalled once again and remains at 42 percent. Further, sales were essentially flat in Q4 2023 compared to one year prior. The combination of these factors suggests that sales are driving existing wearables consumers to refresh their devices, rather than seeing significant numbers of new consumers join the wearables trend. Indeed, only 14 percent of non-smartwatch owners are considering purchasing a watch in the next six month.

Ownership Report - March 2024

The current economic environment continues to put pressure on the wearables market, which is seeing slower sales than in previous years. Indeed, ownership has flattened, remaining at 42% of the population, which is the same ownership level that we saw six months ago, despite the holiday period which is an increasingly common time for smartwatch gifting.

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