19,000 health fitness trackers sold in Singapore in 6mths: GfK

• More than US$530K worth of sales in peak month of Dec, 2014
• Manufacturers choosing to launch in Singapore first for Asian region

IN the last six months, over US$2.3 million worth of health fitness trackers have been snapped up in Singapore, according to market research firm GfK.
 
Increasing numbers of enthusiasts in the country are slowly but surely picking up this new tech toy, which on average sold around 3,200 units monthly from September 2014 to February 2015, GfK said in a statement.
 
GfK’s commenced point of sales tracking of health and fitness trackers soon after the product entered the mainstream market and started witnessing rising consumer receptivity.
 
In its peak month of December 2014, over 5,200 of the gadgets were sold, generating more than US$530,000 in overall sales in one month alone.
 
“Still considered at the infancy stage of the product lifecycle as it has barely been a year since the product has been launched here, the health and fitness tracker is currently appealing to tech-savvy early adopters,” said Gerard Tan, account director for Digital World at GfK.
 
“However, since GfK started tracking sales of the product in September, we have witnessed stable demand, growing the market steadily in into an approximate US$2-million business in the six-month span,” he added.
 
Presently, GfK reports eight major brands of health and fitness trackers offering nearly 50 models in Singapore.
 
A comparison of monthly sales performance in the six months revealed some emerging preferences among local consumers, it said.
 
For instance, devices that are equipped with the wireless feature have been consecutively rising in share of sales volume, from 54% in September to 76% in the latest month.
 
Another observation is the growing demand for models which comes with the heart rate sensor. In February 2015, two in every five (41%) health and fitness tracker purchased have this feature, compared with just 6% six months ago.
 
“Consumers in our developed market are receptive towards the new wearable technology and manufacturers continue to actively launch their flagship models in Singapore first for the Asian region,” said Tan.
 
“As the market starts getting increasingly crowded, manufacturers will need to identify their distinct fitness tracking feature or move away from the traditional form factor to create new wearable designs and experiences in order to stand out and gain edge in the market,” he added.
 
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