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PriceSpy data suggests Kiwis are moving with the time

24 January 2020

PriceSpy data suggests Kiwis are moving with the time, as popularity for smart watches soar

New data from PriceSpy indicates popularity** for wearable fitness gadgets is on the up, as historical clicks received for smart watches increased by over two thirds (68 per cent) in January 2020 compared to January 2019*;
The research also found the number of shoppers clicking on fitness watches grew by almost two fifths (38 per cent) for January 2020 vs January 2019*;
Traditional activity trackers however were not as popular - as online clicks dropped by almost a fifth (-19 per cent)* year-on-year (January 2020 vs January 2019*).

New data from the fully impartial price and product comparison site, PriceSpy, suggests Kiwis are very much behind the fast-moving world of wearable tech products.

According to historical click data from PriceSpy, the shopping category for smart watches has already increased in popularity in 2020, receiving almost 70 per cent (68 per cent) more clicks in January 2020 compared to January 2019*. Rather impressively, the shopping category of fitness watches also increased by almost 40 per cent (38 per cent) over the same period of time*.

Not all wearable fitness gadgets however grew at the same rate, as the PriceSpy research found the shopping category for traditional activity trackers, which include products such as the Fitbit Charge 3 and Fitbit Inspire HR, dropped in clicks by almost a fifth (-19 per cent) year-on-year*.

Liisa Matinvesi-Bassett, New Zealand country manager for PriceSpy, says: “Our latest findings highlight just how much wearable fitness gadgets have taken off in New Zealand.

“January is obviously one of the biggest times of the year that consumers look to invest in health and wellness products but compared to just one year ago, the percentage of shoppers clicking on smart watches in particular has grown phenomenally, increasing 68 per cent.”

Quick facts
• The wearable tech industry was reported worth nearly $23 billion in 2018 and this figure is expected to grow at a compound annual growth rate (CAGR) of 19 per cent to reach $54 billion by 2023 (source: globaldata);
• The number of connected wearable devices worldwide has more than doubled in the space of three years, increasing from 325 million in 2016 to 722 million in 2019. The number of devices is forecast to reach more than one billion by 2022 (source: Statista);
• In 2023, it is projected that 131.6 million smartwatches will be shipped worldwide, up from 91.8 million units in 2019 (source: Statista).

Liisa continues: “Whilst popularity for wearable fitness gadgets continues to grow rapidly, our insights suggest not all products are as popular as others. For example, the percentage of clicks received for traditional activity trackers dropped by almost one fifth year year-on-year*.

“What’s particularly interesting about this is consumers appear to be clicking more on wearable fitness gadgets that have a considerably higher price point, suggesting shoppers are looking to invest in this market for the long run.”

“In terms of leading wearables fitness gadget brands, our data shows Fitbit, Samsung and Apple were most popular with Kiwi shoppers in 2019, as well in 2020 so far. But it’s not just the usual tech companies that are putting their stake in the ground, as fashion designers such as Louis Vuitton are getting in on the action, selling wearable tech products costing up to $7300 NZD.”

Shopping categoryYoY growth/decline (January 2020 vs January 2019)Lowest price (from top ten most clicked products for 20 January 2020***)Highest price (from top ten most clicked products for 20 January 2020***)
Smart watches68 per cent$219$709
Fitness watches38 per cent$309$1099
Activity trackers-19 per cent$59$249

Liisa concludes: “For those who are in the market for a new wearable fitness gadget and are unsure what your money can buy, our key recommendation is to use a price and product comparison site or app, such as PriceSpy to do your buying research first.

“Using such a site or app will help shoppers in more way than one. Firstly, they can make sure they are not paying over the odds for an item that may cost considerably less elsewhere. Secondly, consumers can compare the features of multiple wearable fitness gadgets in one place, so they can invest their money wisely and choose the best product that best suits their individual needs.”

Download the PriceSpy app here.
www.pricespy.co.nz

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Media contact for PriceSpy:
For further information about PriceSpy or to set up an interview with a spokesperson (please allow a time difference of -12hours from NZ time), please contact Lindsay Stanley on + 64 212 884411 or email lindsay@lspr.co.nz.

Notes to editor:
*Year-on-year data compares 1 – 20 January 2020 to 1 – 20 January 2019
**Popularity is based on the number of clicks each product within a shopping category on PriceSpy
***Prices and popularity figures are correct as of 20 January 2020.

About PriceSpy:
PriceSpy is a comprehensive price and product comparison service used by millions of consumers every month. It helps consumers find, discover, research and compare products.

PriceSpy has 108,000 indexed products, 1,730,000 indexed prices, 584,000 product ratings, 7,510 store ratings and 1183 stores. Providing a fully impartial comparison service for consumers and a deep depository of price data for retailers.

The PriceSpy app is available to download for free, via the App Store and Google Play.

Prisjaktlaunched in the year 2000 and is Sweden's largest price comparison service. The service is known in Sweden and Norway asPrisjakt, and in the UK, Ireland and New Zealand asPriceSpy.

ends

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