Has time passed the watch industry? Sales of watches ranging from expensive Rolexes to cheaper tick-tockers have been declining in recent years. Consumers are increasingly relying on the latest devices such as smartwatches and Fitbits to keep track of time and also keep up to date with latest features.
There are currently two types of wearable watches available in the market: Smartwatches and fitness bands. The main distinction among smartwatches and fitness trackers comes down to whether you want a wearable device that’s designed to help you communicate and deliver notifications, or one that keeps track of your exercise and health patterns.
Either way, it appears they are replacing the traditional wristwatch. From Apple and Samsung to Fitbit and Garmin – there’s plenty of choice when it comes to wearables to help you keep fit, but they also help ensure you are keeping up with the latest style.
The watch industry isn’t like the technology industry there is no “Best” here it’s all about preference. Choice is king when it comes to mechanical watches. Thus, the watch industry and fitness band industry are in an equal competition to generate equity and brand value.