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Friday, November 7, 2014

UK consumers are expected to spend over £100 million on wearable technology this Christmas

New research from Samsung Electronics predicts that people in the UK will spend £104.7 million on wearable technology this Christmas, putting them ahead of consumers in Germany, Spain and The Netherlands.

That’s a 181% increase in revenue from Christmas 2013, with unit sales up 120.8% on 2013.

1,028,800 wearable devices are expected to be sold in the UK this Christmas, helping the total wearables market reach £313.6 million for the whole of 2014.

Fitness and activity trackers are predicted to be the most popular wearable devices in the UK for Christmas, accounting for almost £29 million of the predicted £104.7 million spend, followed by smart watches (£25.04 million) and healthcare wearable devices (£22.01 million).

Andy Griffiths, President of Samsung UK & Ireland, said “The wearables market has exploded over the past 12 to 18 months with some incredibly exciting and innovative products entering the market. As the benefits wearable technology can offer become better understood, it is natural that the sales within this sector will grow and we are delighted to see predictions of 121% growth and sales reaching €395 million in the UK alone by the end of this year. At Samsung, we are passionate about bringing to market products that enhance peoples’ lives and hope that as we continue to innovate in the exciting wearables space that our products will continue to excite and engage people.”

The report was prepared by the Centre for Retail Research (CRR) by combining data from national statistic authorities, independent research organisations and key retailers. ‘Christmas’ is defined as the six-week period from mid-November until the end of the year.

Anticipated UK sales of wearables during Christmas 2014:

Smart glasses: 13,500 (£11.63 million)

Smart watches: 156,600 (£25.04 million)

Multimedia & Smart Cameras: 67,000 (£17.09 million)

Fitness & Activity Trackers: 474,900 (£28.97 million)

Healthcare: 316,800 (£22.01 million)

Author: The Fonecast
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