The healthy lifestyle trend has shown that consumers are becoming more aware of self-care considerations when it comes to their health, diet and exercise regimes. Tracker functionalities have become a good tool for helping calculate and control such issues.
While consumers are increasingly better informed about the capabilities of wearables, the products are still positioned as a complementary product, struggling to show independence as a product. Smartphones are still positioned as an elementary tool because they need an app if they want to upgrade or evaluate their personal information.
Smart wearables still has many opportunities to continue growing. Currently, the category is at a relatively early stage of development, although consumer awareness is slowly having a greater impact on sales because people are understanding how to take advantage of the functionalities of the products in different usage occasions.
When considered as a complementary product, wearables are occasionally offered in promotions when purchasing a specific product or service. Companies seek to increase the consumer's connection with the brand by complementing it with the use of a smartphone, while telecom channels also participate in these promotions with offers for their services.
Overweight children is a major concern in Chile, even at national government level. This has seen the introduction of a project in which public school students will wear smart wearables in a campaign to reduce the rate of childhood obesity, generating greater awareness among children about heart rates and the benefits of exercise and eating well.
Chinese brands such as Huawei and Xiaomi are slowly beginning to increase their presence in smart wearables, with these two brands having entered the category renewing the overall offer with products that are more convenient for consumers, helping to develop the confidence that consumers have in Chinese brands. As a loyalty strategy, they also offer consumers wearables as a “bundle” with some of their other products, such as their smartphones.
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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.
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This industry report originates from Passport, our Consumer Electronics market research database.