Fitness trackers were speculated to be the next big category of consumer devices after smartphones. Smartphones have always had the capability to measure basic fitness parameters, such as counting of steps and number of calories burnt. However, companies such as Fitbit and Garmin capitalized on this growing fitness consciousness by launching bands, watches and other forms of wearable devices that not only track these basic parameters, but also track key metrics in activities such as cycling, hiking and swimming.
The sales of fitness trackers grew several fold until 2015, however the growth sharply reduced in 2016. Analyst houses such as eMarketer and IDC downgraded their predictions for 2017 and beyond, based on this unexpected drop in sales.
Source: IDC Worldwide Quarterly Wearable Device Tracker; Projected sales based on a regression model developed by Blueocean
While it is observed that sales fell in 2016, there is no clear understanding on why this was so. The purpose of this whitepaper is to explore the reasons for this drop. To achieve this, we analyzed consumer reviews of the top fitness trackers available online. We quantified the online rating trends and showed through our ‘Net Experience Score’ model, the effect of user experience on sales. We also used text analytics techniques developed inhouse to peak into the minds of consumers and give us insights around what they like and dislike about fitness trackers the most. To know more, click here.
Sign up to get the latest perspectives on analytics, insights, and AI.