Traditional Watch Sales Post Big Fall Following Apple Watch Release
NPD data shows that sales declined 11 per cent year-on-year in June, with retailers selling US$375 million in watches, Bloomberg reported.
Consumers may well be moving to smartwatches in favour of traditional watches, however whether the sales decline in traditional
watches is temporary or indicative of a longer term trend will be revealed in the longer term.
Seeking to establish a presence in the growing market, tech players have this year steadily been adding to an ever growing catalogue of smartwatches, with consumers now having the choice of a range of smartwatches with various features at a variety of price points. The smartwatch market has experienced rapid growth thus far this year, with research firm Strategy Analytics recently finding global shipments grew 457 per cent annually in the second quarter.
Apple has been the dominant player, capturing a 75 per cent market share, according to Strategy.
Last month, research firm Canalys found that Apple shipped 4.2 million Apple Watches in the 2015 second quarter.
Watches priced between US$50 and US$999 registered drops in June, according to NPD data, with a 24 per cent decline in timepieces from US$100 to US$149.99 the biggest drop recorded, Bloomberg reported.