Blog by- Anant Bisht.
Due to steep rise in the knowledge and awareness in the field of fitness in past few years, India has seen an increase in demand of wearable that tracks fitness activities. These are devices which track various physical activities such as heart beat and steps travelled; they are the best way to monitor one’s health and activity without paying proper heed to it. Moreover, the results are pretty accurate too. With time, the advancement in the terms of features is no big deal and so is done by all the fitness bands in the market that even track your sleeping statistics.
The better part of the story is that these trackers come in different price ranges, ranging from Rs. 500 to Rs 30,000. So, these products will not cost you much if you want just the basic features.
Indian market is full of fitness wearable bands from different companies. All of these work perfectly in their basic functions but as you pay more, the precision and features get increased manifolds. Though the market in India did show some great enthusiasm last year by buying around 2.7 million units last year but this number fell greatly this year. To worsen the condition of famous brands, other small brands are joining the market and selling gadgets with similar features at a much smaller price.
Though MI provides MI band, a reliable and cheap product, the market is still dominated by all the bigger brands out there, namely- Fitbit, Garmin, Misfit and Polar.
Talking about the affordable section in India, GOQii outnumbers every other company in the Indian wearable market. This company has focused deeply on the unique wellness proposition along with personal trainer, lifestyle doctor and health locker available as a subscription. Xiaomi has also found consider success due to its low price with pretty good features and the popularity of the brand.
After watching Xiaomi win over the Indian market, other phone brands such as Honor and Lenovo have stepped in the Indian wearable market too! This poses quite a threat to all the brands out there as the prices are going down due to tough competition. Lenovo has recently launched two of its products, that are- HX03 Cardio and HX03F Spectra in India.
Still, the most famous of all the brands of wearable bands is Fitbit.
Fitbit Market in India
Fitbit is a California based company which has seen a huge amount of profit in India. It was founded in 2007. This company came in India back in 2015 and since then has built a vigorous network for sale and distribution of goods. It provides products that enable the user to stay in touch with the fitness industry and motivates them by letting them view their daily fitness statistics. Fitbit products are easily available in online as well as offline market. The online market giants such as Flipkart and Amazon have already tied hands with the company. On the other hand, Reliance Digital, Croma, Helios, etc. are the ones which look after the offline sales of the products. According to the company, Fitbit’s devices are sold in more than 1,000 stores in 100 cities across India. Moreover, the plus point about Fitbit is that it provides the products at all price ranges and features according to them.
This company is highly focused on fitness wearable products only; thus it makes pretty precise products (in terms of information provided by the device) as are required and the variety of products offered by them come in all ranges so that a person can buy products according to his needs and budget!
Fitness trackers that dominated 2018
- Moov Now- This fitness tracker is light weighted and has a really great battery life but doesn’t come with a screen and has pretty limited features.
- Saumsung Gear Fit 2 Pro– This watch is pretty expensive but is definitely value for money. It supports iOS as well as Android but lacks an alarm feature and a barometer.
- TomTom Spark 3– This watch is great for all the music lovers as it provides phone-less music and provides GPS navigation too. The cons of this product include poor view of the menu and it doesn’t provide sound quality as is expected.
- Huawei Band 2 Pro– This product comes with an affordable price tag and the results are accurate too! The only disadvantage is that it has a freezing app.
- AmazFit Bip– This watch is available with a stylish design that would help you enhance your style statement. Although the user interface is little clumsy but manageable.
- Garmin Vivosmart 3– This device has a great battery life and a GPS as well as heart monitor but data provided is superficial, it doesn’t have details.
- Garmin Vivofit 3– This device has a great battery life and an always on display, which may create problem to some of the users but to most of us, it is really helpful. The disadvantages are that the notifications of the phone aren’t visible and it has a really poor design.
- Fitbit Charge 2– This device comes with a big screen and a comfortable strap but lacks GPS as well as the notification displayed is pretty limited.
- Fitbit Blaze– This fitness tracker has a stunning battery life and has really great fitness features but lacks notification. Moreover, the design may seem a little weird to some of the people.
Starting a New Brand
Starting a new brand in this field isn’t advised because no matter what, people barely prefer the new brands of electronics over the older and more trusted ones. The only case when your products will be bought is when you offer a great design, build quality and features at a very low price. This would mean that you will have to really consistent with your products and the profit margin offered will be low. Moreover, the investment required is really huge. I won’t recommend starting this business unless you’ve made your mind and have a great investment ready as well as you’re ready to bear some losses and tiny profits.