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In the first quarter, the shipment of China‘s smartwatch market fell by 16.7, and the bracelet market took the lead in recovering

Time:2023-06-13 Views:916
    The latest "Quarterly Tracking Report on China‘s Wearable Device Market" released by IDC shows that the sales in China‘s wearable device market in the first quarter of 2023 was 24.71 million units, a year-on-year decrease of 4.1%. Despite the relaxation of epidemic policies and the basic recovery of outdoor activities and travel in the new year, the wearable market remains sluggish in terms of channel end shipments. This is closely related to factors such as the pace of new flagship sales by manufacturers, optimization of channel inventory, and prioritization of consumer recovery.
Market Performance of Major Wrist Wear Devices in China in the First Quarter of 2023:
Smart Watch Market
    The shipment volume (Sales In) was 5.9 million units, a year-on-year decrease of 16.7%. Among them, 3.1 million adult smartwatches were sold, a year-on-year decrease of 19.5%; The shipment volume of children‘s smart watches was 2.8 million units, a year-on-year decrease of 13.3%. Under the influence of leading manufacturers‘ continuous inventory optimization, the shipment volume of adult smartwatch market still shows a significant decline. However, from a sales out perspective, according to the "Monthly Sales Tracking Report on the Chinese Wearable Device Market", the market showed a slight rebound of 1.8%.
Bracelet market
    The shipment volume was 2.86 million units, an increase of 8.5% year-on-year. With the gradual recovery of the economy, bracelets, as entry-level products with lower prices, are more likely to attract popular demand, leading to a rebound.
    In the first quarter of 2023, the wrist wear market formed a completely opposite trend in sales out and sales in. According to the Monthly Sales Tracking Report on the Chinese Wearable Device Market, sales of adult smartwatches (Sales Out) increased by 1.8% year-on-year in the first quarter of 2023, sales of children‘s smartwatches increased by 2.2% year-on-year, and sales of bracelets increased by 10.6% year-on-year. Among them, the sales of adult smartwatches and children‘s smartwatches have shown opposite trends compared to the shipment volume. From this, it can be seen that in the smartwatch market, sales out shows a slight recovery trend before sales in. However, the market shipment situation continues to contract under a relatively stable channel strategy and has not yet shown a rebound.
    With the continuous inventory optimization in the current market and the pace of subsequent launch of flagship new products, there are still certain growth opportunities this year, mainly reflected in the following three aspects:
Smartwatches will be equipped with more health related features
    Adult smartwatches continue to expand in the fields of health functions such as blood pressure and blood sugar, and manufacturers are gradually laying out products in this field. This caters to the current demand of consumers for attention to their physical health, which is beneficial for stimulating device changes and attracting more potential users to try new products.
Channel management places greater emphasis on efficiency
    The channel inventory of the smartwatch market is gradually optimizing, and as more new products are launched this year, the product line will iterate as a whole, which will bring more favorable conversions to channel sales.
The entry-level market for wristwear has rebounded
    As an entry-level wrist wear product, bracelets are expected to experience a slight recovery this year as consumption recovers and the willingness of middle and low-income groups to consume gradually rebounds after experiencing the downturn of the past three years.
 












   
      
      
   
   


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