Target market of apple watch1/16/2024 ![]() ![]() The company's collaboration with Nike might be the best example of the watch's ability to bring both fashion and fitness-forward technology to customers. While its fashion partnerships may have helped the device break out of the "tech chic" market, tapping into other use cases will help Apple expand its share of a market that's projected to reach $32.9 billion globally by 2020, according to Allied Market Research.įocusing the watch back on its health tracker would make sense, given the recent flight of social media and shopping apps from the platforms. Lopez echoed the sentiment that doubling down on health features would allow the company to expand the products reach and partner more with health-care companies and insurers. "It's not something that's influential in how people are buying." So what's next for the Apple Watch? "You don't hear about it, you don't read about it," said Morrison. Its consistent in-house design standards have minimized the waves the company has been able to make in the fashion world, argued Doneger's Morrison. For designers interested in the Watch beyond its band, Apple doesn't leave much room to play. Google's Wear OS can be found on watches designed by brands like Kate Spade, Michael Kors and Emporio Armani.Ĭompared to a collaboration like Kate Spade's new touchscreen watch, which runs on Android, a fashion house's influence on the Apple Watch can seem almost inconsequential. FitBit has partnered with designers like Vera Wang and Tory Burch to make their watches more appealing. Other tech companies have followed Apple's lead in trying to use fashion to sell wearables. "Having said that, I think everyone else looked at that and said I don't want to be in the low-cost market." "I think what Apple brought to the table was the idea of partnering with luxury brands that would appeal to both audiences," said Lopez. "The two are experts in their own distinct yet complimentary fields, thereby offering the consumer the best of both technological and traditional craftsmanship.Ī representative from Hermès declined to speak on the record about the company's partnership with Apple. "That's what makes Apple's collaboration with Hermès so interesting," she wrote in an email to CNBC. She said the fall of exports of quartz watches is a sign that consumers are looking past traditional luxury watches, and smart watches are capturing a greater portion of the market. Personal Loans for 670 Credit Score or Lowerīut with the advent of the smart watch, technological capability is starting to overtake craftsmanship in terms of what buyers are looking for, said Ella Hudson, senior editor of footwear and accessories at WGSN. Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit ![]()
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