Activity watches (analogue) posted strong double-digit volume growth within wearable electronics in 2019 as this category is relatively new and offers strong growth opportunities for manufacturers. In addition, such products are also in line with the health and wellness trend and consequent rise in the number of consumers looking to track activity, exercise and calorie intake.
Cheaper activity bands are growing in popularity as consumers find it easier to justify making these purchases. This further price pressure is resulting in a decline in average unit prices, with expensive activity bands losing sales due to growing competition from cheaper versions which are more appealing among the growing number of Danes concerned with health and wellness.
Activity bands are most popular among 25-44 year-olds in Denmark. Consequently, there are strong growth opportunities among other demographic groups.
Apple Watch remains by far the leading player within smart wearables in Denmark, benefiting from a strong brand image and aspirational positioning, with a focus on innovation and technology. However, the brand lost volume share over the review period due to increasing competition from alternative brands such as Huawei and Fitbit, which recently launched smartwatch Fitbit Versa.
Garmin continues to lead sales within activity wearables, followed by Fitbit. Garmin is widely associated with in-car navigation systems and GPS and needs to expand its portfolio in wearable electronics as in-car navigation sales have been declining.
The Fossil Group, which includes leading brand names such as Fossil, Michael Kors, DKNY, Armani, Skagen and Diesel, launched a large range of hybrid watches during the review period, with this trend expected to continue over the coming years. In addition, Fossil Group will also look to offer wider and deeper distribution.
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Discover the latest market trends and uncover sources of future market growth for the Wearable Electronics industry in Denmark 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.