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.
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