Even though smartwatch sales look promising in the long run, the current situation that is affecting the whole world has caused shipments to drop. Though the figures are still very good for brands like Apple or Samsung, compared to previous quarters, something has changed. Shipments are no longer as high as before and consumers have set out to save.
It is likely that the decrease in this last quarter may be related to the approach of winter. The preparation for a summer in which it is necessary to try to put the heating as little as possible can mean that now they try to avoid expenses that are not essential. Although many people would like to wear a smart watch on their wrists, for the moment, they are saving their money.
If we focus on Esoaña, the Bank of Spain has confirmed, according to the latest data published, that families have saved about 20% more since the pandemic. Uncertainty, job insecurity and now inflation are causing measures to be taken to ensure a cushion to face the difficult months that are yet to come. Especially since winter is coming.
It is true that smart watches have been in increasing demand since they hit the market. Above all, Apple continues to be a leader in the sector, as stated by Statista. Although Samsung and Huawei are following him very closely, they have not yet been able to reach his level. However, while the numbers for these brands continue to be good, they have started to plateau.
Smart watches are not considered a staple product
Something that this decrease in shipments of smart watches worldwide also reveals is that they are not considered a product of first necessity such as the mobile phone. Again, Statista confirms that the number of users who have a smartphone is more than 3 billion. However, it is estimated that it will continue to grow and those who have more than one mobile are not taken into account.
There are people who have a personal telephone and another for work, because it has become an indispensable resource that has superseded the landline. Despite all the features and conveniences that smart watches provide, they still cannot replace the phone. So, consumers, in times like the one we are living through, prefer to invest in them, perhaps later.
New smartwatches continue to hit the market
Despite all this information about smartwatches, this has not made the news have been paralyzed. We highlight the Series 8 from Apple, the Watch GT3 from Huawei or the Galaxy Watch 5 from Samsung. Smart watches that increase the desire of consumers who are reluctant to buy them and who are saving their money very well for now. Therefore, the estimated figures will have to wait.
It is very likely that after this decline in smartwatch shipments there will be a rush of purchases. Perhaps this will happen when Christmas arrives or, perhaps, when we begin to overcome a bit of this crisis in which we find ourselves submerged. However, despite this moment of hiatus, the sale of smartwatches will be in good numbers again. Although, now is not the time.