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Learn moreOct 2020
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In spite of the protests in Chile disrupting the operations of many bricks-and-mortar retailers in the major cities during the final quarter of 2019, wearable electronics still managed to record dynamic growth in this year, helped by the increasing popularity of the online sales channel. E-commerce is expected to continue to grow, not least with the COVID-19 pandemic again leading to the closure of physical stores in 2020, and generally fitting well into a world in which social distancing and keeping the touching things to a minimum have become a “new norm”.
Technological innovation within wearable electronics is driving a migration from non-display to display-enabled devices, resulting in declining activity bands sales and increasing sales of digital activity watches. The entry of globally recognised brands such as Huawei and Xiaomi, as well as other Chinese brands, has helped to reduced product prices, with consumers now able to purchase cheaper activity watches and smartwatches with multiple functions and connectivity options, replacing the activity band tracking devices that do not have displays with more technologically-advanced products that can do everything that the bands could do, and more, but also with the visual benefits of displays.
In times of social distancing and strict hygiene protocols, wearables offer an attractive contactless option for payment procedures. Despite the still small, albeit growing, penetration in the overall population, wearables are starting to attract attention in payment solutions, as Visa data shows that around 50% of customer-present transactions in Chile are made through contactless options.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Wearable Electronics industry in Chile with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Wearable Electronics industry in Chile, our research will save you time and money while empowering you to make informed, profitable decisions.
The Wearable Electronics in Chile market research report includes:
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Why buy this report?
This industry report originates from Passport, our Consumer Electronics market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.