Fitbit Online Sales Up 102%
As Fitbit navigates the COVID-19 crisis and global downturn, the company has announced that it will continue to ramp up efforts to expand its online retail operations, which have proved to be a bright spot for the company.
In Q2 2020 sales made through Fitbit.com grew by 102% year-on-year (y-o-y) to total $66 million.
Overall, however, Fitbit’s sales contracted by 30% y-o-y in Q2, to 2.5 million devices. Fitbit cited a lack of new products as the main reason for this, stating that one new product was introduced in the first half of 2020, compared to four new products in H1 2019.
Smartwatches bucked this trend, with sales up 34%, led by sales of Versa 2.
“While COVID-19 has impacted our business and there continues to be uncertainty around consumer demand and the economy, we are encouraged by the 12% year-over-year POS sales growth we’ve seen at retail and through Fitbit.com,” said James Park, Co-Founder and CEO of Fitbit.
“In addition, many customers have taken advantage of Fitbit’s free premium trial offering and signed up for our subscription service.”