Wearable Electronics in Spain

PROSPECTS

Substitution process

In 2018, wearable electronics continued to witness products in older categories give way to new ones. For example, sales of activity bands and digital activity watches slowed as consumers shifted towards analogue activity watches and smart wearables.

The appeal of fashion and greater functionality

With activity bands and digital activity watches being fairly basic devices, more demanding consumers moved towards analogue activity watches and smart wearables, which tend to offer all sorts of functions. In addition, in 2017 and 2018, the entry of fashion brands and traditional watch manufacturers helped to expand the offer and attract more fashion-conscious consumers.

Sport and mobile payments to drive future growth

Similar to what is being seen in other developed countries, taking part in sporting activities on a daily basis is becoming increasingly popular in Spain. The recent success of Spanish teams in different sports as well as the general health and wellness trend have helped fuel demand for fitness-related wearable electronics.

COMPETITIVE LANDSCAPE

Fitbit remains the most popular brand

Due to being the largest category, activity wearable manufacturers continued to lead the wearable electronics competitive landscape in 2018, with Fitbit España ranking first. Fitbit has heavily invested in Spain by expanding its distribution network, opening its first store in the country in 2016.

Samsung continues to lead smart wearables

Samsung continued to lead smart wearables in 2018, with this position largely down to its strength and reputation in smartphones. Huawei ranked second, up from fourth place in 2017, thanks to new launches and the expansion of its retailing network in Spain via the opening of new experience stores.

Fossil leads the way for fashion brands

The fashion group Fossil stood out as one of the most dynamic players in wearable electronics in 2018. Under its large portfolio of brands, which includes Michael Kors, Fossil, Skagen and Armani, Fossil launched smart wearables and analogue activity watches.

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