Research shows that the Apple Watch has the highest level of customer loyalty among all smartwatch brands in the U.S. with roughly 80% of iPhone users in the US owning an Apple Watch.
What Happened? Counterpoint Research analyst Matthew Orf notes that Apple dominates the U.S. smartphone market and iPhone users tend to adopt other Apple products due to their superior interoperability. According to the report, the main reason for iPhone users leaning towards the Apple Watch as their current smartwatch of choice was that they like the brand.
In contrast, Google Pixel users ranked second on the list, with almost 71% of Pixel phone owners stating that they own a Google Pixel Watch. Only 40% of Samsung phone users use a Samsung Galaxy Watch.
The report also revealed that Apple sold about one Apple Watch for every three iPhones in the fourth quarter of 2022 and achieved a 56% share of the US smartwatch market in 2022. Meanwhile, Samsung only sold one Galaxy Watch for every 10 Galaxy smartphones in the US.
The top three smartwatch features that consumers look for include health and activity tracking, notification access, and messaging and calling, according to the survey respondents. In addition, most respondents stated that Apple was their preferred brand for their next smartwatch, with 77% voting for a watch made by the Cupertino giant.
Get all the latest Share Market trends and news to set you up for the week ahead.
People are ready to loosen their purse strings for smartwatches: The report also indicated that the share of respondents willing to pay $500 (₹40,880) or more for their next smartwatch was double the share of those who stated they spent $500 or more on their current smartwatch, suggesting a rise in average selling prices (ASPs) for the segment.
Senior analyst Arushi Chawla stated that smartwatch users are delighted with their devices and primarily use them for health and fitness tracking, as well as notification access. This suggests that there is a need for brands to educate consumers on the benefits of smartwatches in everyday life and further drive the adoption of the form factor.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.