Wearable electronics increased significantly in popularity among Russian consumers during the course of the review period, as they became more affordable, more widely available and awareness of them rose. While the rate of growth in retail current value sales slowed significantly during 2020, this was due more to maturation than the economic shock of the pandemic or the fact that consumers were spending more time at home.
Smart wearables account for the bulk of retail current value sales of wearable electronics in Russia, with digital activity watches accounting for most of the remainder. Apple will remain the leading player in smart wearables during 2021, accounting for just over half of retail current value sales, ahead of Samsung Electronics Rus OOO.
Digital activity watches, which have largely eclipsed activity bands, are popular with those interested in sporting activities and health and wellness – such as those who want to track how much they move every day as part of their weight management efforts. Digital activity watches are often significantly cheaper than smart wearables but offer far fewer functions.
The rate of growth in retail current value sales of wearables electronics will continue to decelerate over the course of the forecast period, as demand for these products steadily matures. However, even by the end of the forecast period, the market for these products will remain far from saturated.
In contrast to the review period, when the unit price of wearable electronics fell significantly, the unit price of these devices is set to grow modestly over the course of the forecast period. The growing popularity of smart wearables with higher-quality OLED screens will play a role in this.
Digital activity watches will be the top performer in wearable electronics, in terms of their rate of growth in retail current value sales, over the course of the forecast period – ahead of smart wearables. Digital activity watches are more affordable than the latter while providing some of the same functions.
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Wearable Electronics
Electronic devices designed to be worn by the user, typically on the wrist or head. The category only covers products designed for retail sale and consumer usage. Products designed for use in medical, military and any other profession such as diving are excluded.
See All of Our DefinitionsThis report originates from Passport, our Wearable Electronics research and analysis database.
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