 |
|
|
|||||
Apple Watch sales are enduring a years-long backslide. While Apple first launched its watch in 2015, sales didnt spike until the pandemic, when consumers were highly focused on their health. But competitors quickly caught up, with fitness-focused companies like Garmin integrating more smart technology. Meanwhile, Apple stumbled in adding compelling new featuresgetting into some legal spats along the way. For the past three years, Apple Watch sales have declined year-over-year, according to research firm IDC. In 2022, Apple sold 43 million units; by 2024, that number dropped to 34 million. The Apple Watch also lost market share, falling from 29.6% to 22.5%, while high-end competitor Garmin and budget alternatives like Huawei and Xiaomi gained ground. And although Apple doesnt break out revenue by individual product, its Wearables, Home and Accessories segment was the only one to decline year-over-year in the fourth quarter of 2024. Apple is in a weird spot, says Jitesh Ubrani, a research manager at IDC studying wearables. They make great stuff but, at least on the watch side, things are a little bit iterative. Where did the Apple Watch upgraders go? Apple Watch sales have fallen far from their 2022 peak. While some analysts remain optimisticUbrani expects Apple will regain modest growth in 2025the numbers are still well below pandemic highs. Part of the drop, experts say, comes down to durability. A lot of people bought a new smartwatch or replacement smartwatch during the pandemic, says Ben Hatton, analyst of connected devices for CCS. Those devices are yet to reach the point where they are beginning to be replaced. So there’s that longevity of device, especially for the top-end devices, that does hamper growth. Unlike the iPhone, which users often upgrade for new features, the Apple Watch hasnt changed dramatically in recent years. Ubrani notes that the devices health and fitness sensors have remained largely consistent across generations. Youre not getting a whole new experience, apart from maybe a shiny new case, he says. (Apple did not respond to a request for comment.) That could soon change. According to Bloomberg, Apple is currently testing watches with added cameras and Apple Intelligence. Ubrani says these updates could appeal to Apple loyalistsbut theyre already standard features among competitors. If were talking AI, I think Apple is behind, and visual intelligence would be a part of that, he says. In terms of adding cameras, they wouldnt be the first one. Who needs an Apple Watch these days? Apple isnt the only company facing headwinds; the entire smartwatch industry has seen declining sales over the past three years, per IDC. But Apples competitors have weathered the downturn more gracefully. In 2023, when Apple Watch sales fell 15.8%, Googles declined just 4.3%. And while both are expected to return to growth in 2025, Googles projected 9.4% gain far outpaces Apples 4.9%. Even in a shrinking market, Garmin is gaining ground. Though its share remains modest at about 5%, the company sold nearly two million more watches in 2024 than the previous year. You’ve got a group of consumers that are looking to buy the best, top of the range fitness trackers, Hatton says. They may have gone into them through the Apple Watch or the Samsung Watch, but increasingly, they’re realizing that what they want it for is the pure fitness element. Garmin is probably best positioned to serve that demand. The wearables category has also diversified. Watches once dominated the space, but now consumers can choose from smart rings that track sleep, headbands that boost focus, and AI-powered sunglasses. While these devices are still niche, Hatton says their rapid growth poses a longer-term threat. Apple sold an estimated 40 million watches last year; by contrast, only about 2 million smart rings were sold across all providers. If they continue to grow very quickly, then they may start to become a real challenger to watches, he contends. And some consumers are simply over it. Maybe they grew tired of the endless notifications. Maybe they were shamed for wearing an Apple Watch at their wedding. Maybe they just missed the feel of a classic timepiece. Theres been a resurgence of traditional watches, Ubrani says. People like the idea of having something thats a little less mass produced, something thats away from the mainstream.
Category:
E-Commerce
As the federal government rolls back environmental programs and policies at a head-spinning pace, businesses are largely on their own to maintain momentum in fighting the climate crisis. At the Fast Company Grill at SXSW earlier this month, Gene Eidelman, cofounder of Azure Printed Homes; Kate McLeod, cofounder and formulator at Kate McLeod; and Nicole Richards, CEO of Allonnia took the stage to discuss how they are tackling the environmental crisis through their own companies despite challenges at the federal level.For Richards, whose company focuses on cleaning up forever chemicals (PFAS), one of the prime issues is the lack of circularity in regulations. For example, the Environmental Protection Agency regulates the amount of PFAS in drinking water. But the Food and Drug Administration’s PFAS regulations only extend to packaging and processing equipment. So for a product like soda that’s primarily composed of water, there’s not enough oversight in the level of PFAFS in the actual product. She also expressed concern over the lack of funding for companies in this space. “That’s the real worry,” she said. “Over the next four years, are we going to slow down innovation to a halt if we don’t have the right government support?” Eidelman echoed Richards in calling for an overhaul in federal regulations pertaining to sustainability. Eidelman’s company builds 3D-printed homes from recycled materials for residential use or in disaster relief. So for him, he sees ample room for innovation within the U.S. Department of Housing and Urban Development and the Federal Emergency Management Agency. “FEMA’s been buying the same trailers for every disaster and spends more money to ship it to Maui than to manufacture things on site,” Eidelman said. “There are a couple departments that are just not doing the job. Less of doing the same thing is going to be a good thing.” McLeod called on companies to reframe how they think about sustainabilityif not for the environment itself, then as a way to stand out from competitors. At her eponymous company, McLeod creates body care items in plastic-free packaging that has resonated with consumers. “I’m just really tired of these companies saying, oh, we’ll offset our plastic usage this way. Just don’t [use plastic in the first place],” she said. “It’s a little bit harder, but you know what? It’s going to make you so much cooler because you’ll be different.” Watch the full panel below:
Category:
E-Commerce
A few years ago, I was in the middle of an important client meeting when my phone started vibrating. Buzz. Buzz. Not wanting to be impolite, I kept my focus on my client. Buzz. Buzz. Buzz. Finally, I excused myself, peeked at my screen, and saw a string of texts from my son, increasing in urgency. The last few read simply: MOM. MOM. MOM. As the mother of three teenage boys, I had gotten texts like these before. There was no way to know how badly my son needed me: Was he just locked out of the house? Or was this a true, red-alarm emergency? In the end, he was fineno blood or broken bones, no panic attacks or thoughts of self-harm. But as a parent and caregivers, these are the moments that send your heart rate through the roof. In the conference room that day, I was in two places at once. And I felt like no one else could know. That was the day I realized Id gotten something important wrong about parenting. When my boys became teens, I figured the hard part was over. But in fact, it was just beginning. At exactly the moment our kids are going through some of the toughest years of their livesfacing bullying, pressures from social media and mental health challenges in record numbersbenefits and support programs for parents tend to disappear. In place of paid parental leave, pamphlets on feeding and sleep training, and friends and colleagues asking how were doing (and how they can help!), we face an endless stream of advice that only reinforces the sense of shame that so many of us feel: Heres how to get your kid into a top college! Heres how to turn your angsty teen into a happy, healthy, successful adult! Often implicit in all of this is possible judgment (or the feeling of being judged) that if our kids are struggling, its our fault. That with enough screen time monitoring and elbow grease, these challenges can be optimized away. But parents dont need more advice. They need recognition and support. In recent years, the U.S. has made great strides in acknowledging the importance of supporting new parents. Thanks to tireless advocacy, policies like paid parental leave, affordable childcare, and flexible schedules have gone from fringe family issues to core economic ones. Theyre discussed on presidential debate stages, integral to competitive benefit packages, and a key part of any serious conversation about the cost of living. The data on the economic impact of raising healthy kids in psychologically safe, loving environmentsand giving parents and caregivers the tools they need to do thisis undeniable. And research has shown employers with strong policies can see the positive impact on their businesses firsthand, in the form of improved employee productivity, better recruitment and stronger retention. Of course, were nowhere near where we need to be; paid leave and affordable childcare remain inaccessible to too many. But we have changed the conversation around how we acknowledge, value and support parents of young kidsand with it, the lives of millions of people. Now its time we did the same for all parents and caregiversfinding new and better ways to support people whose sleepless nights dont involve changing diapers but, instead, comforting a teen who may be suffering from depression or anxiety. Solutions wont look the same as they do for new parents, and if history is any guide, public-sector reform is a long way off. But the first step toward meaningful change is to explore ideas that have a good track record in other contexts and a high likelihood of success. This is where business leaders can lead the way. We can start by recognizing that parents of kids at any age are still, and forever, parents. We can offer schedule flexibility for caregivers of all types. Robust coverage for mental health treatment. Family leave that includes caring for teens in crisis. Tools for team leaders. And resource groups for parents and caregivers of adolescents. Small changes, like explicitly and proactively stating that caregiver leave can be taken to help a child going through a mental health crisis, can go a long way. Beyond corporate policies and benefits, supporting parents and caregivers of teens means building a culture of genuine interpersonal support and understanding, where employees feel welcome and included. You dont need a handbook to do that: No matter where you sit, you can be part of that change today. I wonder what would have happened around that conference table if, instead of reacting with embarrassment and trying to split my brain in two, I had simply told my client that my teen was in distress and needed me. It might have created a moment of connection and understanding. It might have made my client think about their own experiences, or that of parents on their teams. By normalizing these conversations and supporting caregivers all the way through their journey, we can make a lasting difference for kids and familiesand for businesses and society along with them.
Category:
E-Commerce
All news |
||||||||||||||||||
|
||||||||||||||||||