2023-07-01 13:17:43
Vietnamese young people tend to use smartwatches instead of traditional watches. They also prefer special wearables for sports. The smart wearables market has been booming lately. These are technically wearable items such as watches, rings, bracelets, smart glasses, and devices attached to clothing. According to Gartner: Global user spending on smart wearables reached $81.5 billion in 2021. The market started to grow in 2019. However, despite the global recession, people are trying to cut back on spending on unnecessary things. Despite the expected decline in demand, Garmin Vietnam launched a new smartwatch, the Access S70, on June 28. Dao Kong Thanh, Sales Director of Garmin Vietnam, said that during the first two quarters of this year, Vietnam “Demand for electronics and mobile devices from users was weak,” he said, but in the wearables market segment, the report still showed growth, according to IDC, with an annual growth rate of around 30% for smart wearables in Vietnam, he said. Highlighted three features: buying a smartwatch for VND50-10k and switching to a smartwatch instead of a traditional watch.For smart wearables, there are three main customer groups: The first group is heart rate and blood oxygen A second group of customers want features that support sports such as running, biking, swimming, and golf A third group of customers wants listening, calling, and messaging According to Garmin officials, Vietnamese smartwatch users are mostly interested in health status and smart functions. The second group has a smaller number of customers, but it is growing rapidly year by year. “Many athletes and amateurs take a serious interest in sports. They tend to use smart wearables to do their jobs,” he added, adding that during the pandemic, users are helping to practice at home. Some analysts continue to be pessimistic regarding the domestic market, saying few people are interested in the available smartwatch models, but others believe the market will grow very quickly, he added. I believe Tan said this is a potential market. The Vietnamese market has started to grow in recent years, but the growth rate is higher than the average growth rate of the entire region.
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