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Apple Watch Is Crushing The Watch Market Already
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Its absolutely incredible that a product which hasn’t even shipped to consumers yet has already taken such a firm grasp on the wider market.
Analyst KeyBanc revealed that people were holding off buying other fashionable watch brands elsewhere because consumers were so excited for the newest addition to Apples impressive lineup. As you can see in the figure below sales steadily dipped on some of the major watch brands as the Apple Watch hype heated up.
The Apple Watch is ridiculously popular, racking up nearly 1 million pre orders in the US market within just 1 day. Consumers will have to wait until April 24th at the earliest, many of the models will not reach the doorsteps until June.
Prices on this brand new piece of technology vary based on the band and size, but the range is $350-$15,000, and are compatible with the iPhone 6, iPhone 6 Plus, iPhone 5, iPhone 5C, and iPhone 5s.
“Unlike previous Apple device launches, Apple suggests it is not saving significant volume for in-store sales. This suggests the initial pre-orders will likely be enough to make Apple one of the top three producers of >$200 watches in its first quarter,” said KeyBanc.
According to surveys the consumer perception of the Apple Watch doesn’t bode too well yet.
Time will tell whether or not the general population will adopt this technology and deem it to be “cool” because the other functionality of the device isn’t too impressive yet, so it will be critical for a fantastic marketing campaign to be the real reason the device does well.
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