Our Black Friday Sale is now live until Monday 29th November 2021! Apply a 15% discount to your cart in Store using promotional code: EBLACKFR21

Home and Technology Our insights capture shifts in consumer lifestyles and themes impacting the global home and technology markets, including new business models, sustainability, innovation and the future home.

Vanity is Driving Sales of Wearables

Wee Teck Loo Profile Picture
Wee Teck Loo Bio

Sales of wearable electronics are projected to exceed 300 million units in 2020. With Apple Inc launching the Apple Watch in 2015, the wearable electronics market cemented its status as the hottest electronics device. Fashion companies are also jostling to enter the market as these companies seek untapped market for growth.

Fashion conscious

Passive wearable electronics are often equipped with fitness tracking functionality and attractively priced, offering users a low entry to wearables. Other than health-related benefits, passive wearables are also worn as a fashion statement, influenced by celebrities and business executives. Apple’s CEO, Tim Cook, was often seen wearing a passive wearable (Nike’s Fuelband) before Apple launched its Apple Watch, an autonomous wearable that also incorporates fitness tracking functionality.

Looking affluent

A global survey of 16,300 online consumers revealed that many of these consumers are eager to try out new products and services (64%). The perception of doing well also ranked highly, along with the consumers’ preference for branded goods. Sales of affordable real jewellery are also skyrocketing as consumers want to look good (affluent) in front of others without paying high prices.


Source: Global Consumer Trends Survey 2015 results

Note: A look at the values and priorities of online consumers worldwide. Results are drawn from around 16,300 online consumers ranging in age from 15 to 65+ and living in nine major markets: Brazil, China, France, Germany, India, Japan, Russia, the UK and the US.

Critically, wearable electronics are priced attractively and priced similar to mid-range watches and yet, attract considerably more attention from other people due to their novelty factor. Indeed, wearables offer consumers an affordable way to show off to others and yet, offer a wide range of functionalities ranging from fitness tracking to quick response to messages and email notifications.

What’s next for wearables?

The always-on-hand nature of wearable technology does confer certain advantages over handheld devices such as tablets and smartphones. While it is easy to forget or misplace a phone, wearables are typically worn on the body, which guarantees instant access. As sales of wearables explode, manufacturers will launch products that fulfil specific functions and consumer demographics and needs, thereby creating a diverse range of products. The appeal of wearables will evolve beyond a technology product intended for the tech-savvy consumers which would limit sales of wearables. Wearables are increasingly becoming fashion accessories and thereby, increasing their reach to a completely different consumer demographic - the same group of consumers who are willing to splurge on branded handbags and shoes. Other than vanity, there are other factors that will be driving the strong growth of wearables as detailed on the global briefing (Wearables as Fashion Accessories).

Interested in more insights? Subscribe to our content

Shop Our Reports

The New Normal: The Rise of Affordable Flagship Products

Products that offer premium features without the high price tags are becoming popular. What are the factors driving this trend and how are companies like Apple…

View Report

Voice of the Industry: Home Care 2021

In the Voice of the Industry Survey series, Euromonitor connects with industry professionals to explore trends and innovations. This report focuses on the home…

View Report

Consumer Electronics: Quarterly Statement Q1 2021

Sales of consumer electronics are projected to undergo a V-shaped recovery, following a 5% decline in value terms in 2020. As consumers become accustomed to the…

View Report
Passport Our premier global market research database with detailed data and analysis on industries, companies, economies and consumers. Track existing and future opportunities to support critical decision-making across all functions within your organisation Learn More