Wearable Electronics in Taiwan

PROSPECTS

Watches increasingly seen as more than just accessories

Wearable electronics significantly outperformed the entire Taiwanese consumer electronics market in retail volume growth terms in 2018. Aside from the fact that this is still a relatively new category in Taiwan, its performance was bolstered by innovative launches and growing consumer appreciation for the features and benefits of smartwatches and activity watch (analogue) products.

Rising health awareness in Taiwan bodes well for wearable electronics

The healthy living trend has become more pronounced in Taiwan in recent years. Taiwanese consumers are increasingly choosing health and wellness products and partaking in physical activities such as mountain climbing, running and cycling.

Different brands pursue diverse retail distribution strategies

Electronics and appliance specialist retailers remained the leading distribution channel for wearable electronics in volume terms in 2018. Given the relatively novelty of these devices in Taiwan, before making purchasing decisions many consumers are keen to try them out in physical stores, where sales assistants are on hand to explain their uses and features.

COMPETITIVE LANDSCAPE

Xiaomi leads activity wearables thanks to success of its entry-level products

Xiaomi remained the leading brand in activity wearables in volume terms in 2018. Its leading position reflected consistent and aggressive online marketing activities that help it to capture the attention of younger consumers and early adopters who are interested in trying out innovative yet affordable products.

Garmin shifts focus from activity watches and bands to smart wearables

Garmin reoriented its focus from activity bands and wearables to smart wearables towards the end of the review period. This shift, which saw the brand add new smartwatch models to its Descent, Fenix, Forerunner and Vivoactive ranges, helped it to claim the leading position in smart wearables in 2018, albeit at the cost of a decline in its volume share within activity wearables.

Luxury watch brands show growing interest in wearable electronics

Global high-end and luxury watch brands such as Fossil, Michael Kors, Tag Heuer and Montblanc are showing increasing interest in wearable electronics. While such brands have a relatively niche appeal, primarily attracting high-income consumers, their interest is indicative of the strong development potential of this category in Taiwan and other markets.

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