Consumer Interest In iWatch Depends On Its Price
When Apple finally unveils its long-rumoured smartwatch, allegedly called ‘iWatch’, one of the biggest questions will not be whether it can make phone calls, track calories or measure your heartbeat, it will be how much it costs.
According to the results of a survey published by investment firm Piper Jaffray in June, 31% of the respondents would be willing to pay between $100 and $200 for the rumoured iWatch, and only 15% would be willing to pay more than $300. Considering that the respondents in Piper Jaffray’s survey skew affluent with an average household income of $130,000, the willingness to pay in the general population is probably even lower.
The overall low willingness to pay for the iWatch could become a problem for Apple. Rumours have it that the company's first venture into wearables could be priced around $400, which would limit the device's appeal in the eyes of many consumers. However, Apple appears to be pretty bullish about the upcoming device: first Apple's chief designer Jony Ive jokingly suggested that Switzerland (one of the largest watch-making nations in the world) could be in trouble, and then the company invited a number of high-profile fashion journalists to Tuesday's launch event.
- Average price of wearable technology products in the United Kingdom (UK) 2014Average price of wearable technology products in the United Kingdom (UK) 2014
- Wearable technology market share in the United Kingdom (UK) 2014, by productWearable technology market share in the United Kingdom (UK) 2014, by product
- Wearable technology sales volume in the United Kingdom (UK) 2014, by productWearable technology sales volume in the United Kingdom (UK) 2014, by product
- Connected wearable devices worldwide 2016-2021Connected wearable devices worldwide 2016-2021
- Wearable tech device users in the Nordics 2017Wearable tech device users in the Nordics 2017
- Share of people who bought smart wearables in Norway 2014-2016Share of people who bought smart wearables in Norway 2014-2016
- Smartwatch unit sales worldwide 2014-2018Smartwatch unit sales worldwide 2014-2018
- Global smart devices unit sales by category 2013-2020Global smart devices unit sales by category 2013-2020
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