Would You Buy A Smartwatch?

Dear Reader,

I hope you had a lovely Dussehra holiday and that you’re enjoying your weekend.

On Sunday mornings, I usually go for a run in one of the many beautiful parks in Delhi. Though I don’t own one, many in the run club I’m in track their fitness markers using smartwatches; most of them have Garmins, I believe. 

However, despite their popularity among my friends, smartwatch sales in India are currently experiencing a steep decline. In the second quarter of this year, smartwatch shipments in India fell by 28.4% year on year, their sixth straight decline, according to market intelligence firm IDC.

This fall comes after years of a boom. These gadgets took off globally around 2015—by 2019, Apple Watches had even outsold Swiss watches by volume. In India, the craze hit after the pandemic, as people turned to fitness tracking. Budget brands like Noise and Fire-Boltt helped push adoption, with prices starting around Rs 2,000. By late 2022, India had even overtaken North America as the biggest smartwatch market.

But that shine is fading now. Consumers are sick of the hassle of constantly charging these watches. Laraib, a software developer I spoke to, said he much prefers analogue watches, since they look more stylish and go with his outfits. And of course, there’s the privacy angle. Laraib and Umaid, another consumer I chatted with, said they hated how their watches pinged when they were in a group. 

“What if I’m plotting against someone and they see it?” said Laraib, jokingly, of course. 

Intrigued? Check out the latest episode of The Signal Daily to learn more. The episode features consumers and analysts and dives into what’s behind the fall in smartwatch sales in India. You can listen to us on Youtube, Apple Podcasts, and Spotify.

I’d love to hear what you thought! Write to us at [email protected], or reach me directly on Instagram or Twitter at @thesignaldotco, or via email at [email protected].

Do you have a smartwatch? What do you use it for? 

Thanks for listening, and have a restful weekend.

Best,
Kudrat
on behalf of The Core

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