What’s the tech gift to watch this holiday season? We recently ran our predictive analytics on eight new smartwatches and found that 73% of people are considering purchasing one this holiday season – either for their own use or as a gift for someone else.
An analysis of data collected from men and women of all ages across the U.S. revealed some surprising findings regarding how consumers feel about today’s smartwatches and the features that have them opening their wallets:
- On average, people are willing to pay 19% less than the retail prices for smartwatches. However, the top scoring watch – The ASUS Zenwatch – is actually underpriced. Consumers are willing to pay an average price of $206—that’s $7 above the list price of $199.
- The Apple Watch came in at #2, mainly because of the price. Consumers are willing to pay an average of $306, which is $44 less than the list price of $350. However, the Apple Watch is a big hit with women when they are choosing to treat themselves: women buying an Apple Watch for themselves are willing to pay nearly $50 more than the list price.
- The Apple smartwatch is especially popular with millennials (ages 18-24) who are willing to pay $85 more than those ages 35-49. Self-described “early adopters” are willing to pay an average of $353—right on the mark for Apple’s proposed retail value.
The top three smartwatch winners were the ASUS Zenwatch, the Apple Watch and the Pebble Steel. The Samsung Gear S could be a consumer favorite—with a few price adjustments.
Our algorithm comes down to helping manufacturers of any kind find the right market, the right timing and the right price. Insights like this can also help manufacturers get early feedback and make adjustments to design and features early on, ensuring their final product will be a bigger hit.
Read on for more details on what makes for a winning smartwatch this holiday season!