When stay-at-home orders started being issued in the US back in March, the cold weather may have dissuaded some from pursuing outdoor activities. As the warmer months came around and many experienced a greater desire to spend time outside while staying socially distant, a portion of the population decided to focus on fitness.
Manufacturers of wearables have looked to capitalize on the fitness trend with more affordable options for those who want to track their activities without paying for the higher-end bells and whistles of premium smartwatches. Apple Watch SE, for example, is one of Apple’s lowest priced options at $279, while the Fossil Gen 5E costs $249 and the Fitbit Versa Lite retails for just $130.
Aside from the fact that some wearables can help users detect COVID-19, the focus on fitness is gaining traction, as Apple recently launched its Fitness+ subscription to compete with the likes of Peloton, Fitbit Club, and Nike Training Coach. Interpret’s New Media Measure® indicates a clear uptick in fitness tracker ownership during the pandemic, climbing from 29% to 34% among Millennials and from 23% to 28% among Gen X consumers. Boomers saw a 2%-point increase as well, but younger generations are likely to be where fitness tracker manufacturers will see the biggest revenues.
Interestingly, while Gen Z ownership remained flat, the 25% baseline was already higher than that of Gen X, a promising indicator for general interest in the technology among very young individuals that companies like Apple and Google-owned Fitbit will want to pay attention to.