Table of Contents
Overview
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- What you need to know
- Definitions
Executive Summary
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- The issues
- Attracting older consumers
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- Figure 1: Wearable device: ownership and intent to purchase, 18-44s vs over-45s, August 2017
- Most non-owners find no use for wearable tech
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- Figure 2: Reasons for non-ownership of wearable technology, August 2017
- Many feel most smartwatches are overpriced
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- Figure 3: Attitudes towards wearable technology, August 2017
- The opportunities
- Owner behaviours can differ by gender
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- Figure 4: Fitness tracker owner behaviours, men vs women, August 2017
- Smartwatch owners employ their device
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- Figure 5: Smartwatch owner behaviours – Usage, August 2017
- Women see wearables as health awareness tools
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- Figure 6: Attitudes towards wearable technology, men vs women, August 2017
- What it means
The Market – What You Need to Know
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- Time constraints can affect ownership
- Younger groups will boost growth
- Financial concerns can lead to cautious spending
Market Factors
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- Time constraints can impact ownership
- Younger cohorts will aid growth
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- Figure 7: Projected trends in the age structure of the Canada population, 2014-19
- Monetary concerns can lead to cautious spending habits
Key Players – What You Need to Know
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- Promoting the latest and greatest wearables
- Variety in wearable tech bands
- Interest in wearable tech is unmistakeable
- Some brands experiencing difficulties
- Tech embedded in jewellery
Marketing and Advertising
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- Advertising the latest and greatest wearables
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- Figure 8: Apple watch series 3, acquisition e-mail, September 2017
- Figure 9: Samsung gear s3 frontier, online-advertisement, December 2016
- Black Friday promotions
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- Figure 10: Fido, print advertisement, October 2016
- Variety in wearable tech bands
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- Figure 11: Apple watch series 2, acquisition e-mail, April 2017
- Figure 12: Kate Spade Saturday, acquisition e-mail, November 2016
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- Figure 13: Horween leather for Fitbit ionic, August 2017
What’s Working?
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- Interest in wearable tech is palpable
What’s Struggling?
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- Some brands are lagging behind
- Major barriers include cost and usefulness
What’s Next?
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- The number of “connected devices” will likely increase
- Tech embedded in jewellery
The Consumer – What You Need to Know
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- A third of consumers own wearable tech
- Most don’t own wearable tech as they find no use for it
- Fitness tracker and smartwatch owners make use of their devices
- Many consumers believe that most smartwatches are overpriced
- Men more critical of wearables
Wearable Device Ownership and Intent to Purchase
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- A third of Canadians own wearable technology
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- Figure 14: Wearable device ownership and intent to purchase, August 2017
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- Figure 15: Wearable devices: ownership and intent to purchase, 18-44s vs over-45s, August 2017
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- Figure 16: Wearable device - Any ownership and any intent to purchase, men vs women, August 2017
- Walking is the most common physical activity
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- Figure 17: Participation in activities, August 2017
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- Figure 18: Participation in activities, men vs women, August 2017
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- Figure 19: Gabby Reece & Fitbit Behind the Scenes, March 2017
- Figure 20: Julianne Hough & Fitbit Behind the Scenes, March 2017
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- Figure 21: Garmin Presents: The Connected Cyclist, August 2017
- Figure 22: Garmin: Jeremy Martin represents, June 2017
Reasons for Non-Ownership
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- Lack of need cited as main reason for not using wearable tech
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- Figure 23: Reasons for non-ownership of wearable technology, August 2017
- Expensive for younger consumers whereas older groups find no use for wearables
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- Figure 24: Reasons for non-ownership of wearable technology, 18-44s vs over-45s, August 2017
Smartwatch and Fitness Tracker Owner Behaviours
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- Smartwatch owners utilize their device
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- Figure 25: Smartwatch owner behaviours – Usage, August 2017
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- Figure 26: Smartwatch owner behaviours, August 2017
- Most fitness tracker owners utilize their device daily
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- Figure 27: Fitness tracker owner behaviours – usage related, August 2017
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- Figure 28: Fitness tracker owner purchase behaviours, August 2017
- Owner behaviours contrast by gender
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- Figure 29: Fitness tracker owner behaviours, men vs women, August 2017
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- Figure 30: Introducing Fitbit Ionic, August 2017
Attitudes towards Wearable Technology
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- Almost half of consumers feel smartwatches are overpriced
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- Figure 31: Attitudes towards wearable technology, August 2017
- Men more critical of wearables where women see them as health awareness tools
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- Figure 32: Attitudes towards wearable technology, men vs women, August 2017
- Younger consumers have stronger feelings towards wearables
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- Figure 33: Attitudes towards wearable technology, 18-44s vs over-45s, August 2017
Appendix – Data Sources and Abbreviations
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- Data sources
- Consumer survey data
- Consumer qualitative research
- Abbreviations and terms
- Abbreviations
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