Apple Crowds U.S. Watch Market, Depressing Sales to Seven Year Low

These brands are saturating the lower end of the watch market.

According to NPD data, U.S. watch sales plummeted in June, as smartwatches finally took a little bite of the industry.

Sales of the Apple Watch have been disappointing and the watch itself is expensive with the classic version starting at $549. Consequently, this very category-watches between $50 and $999-experienced a year-to-year sales drop in June. Cook stated that he thought that the Apple Watch would be one of the top gifts for the holiday season.

“The Apple Watch is going to gain a significant amount of penetration”, said Levin. They set the price of SISTEM51 at only $150 which is by far very much affordable when compared to Apple watches. “The market for watches that cost less than $1,000 is most at risk, as consumers in that price range have indicated they’re the most likely to buy an Apple Watch”. The first half increase was 4.2 percent. In that report we noted that watches have always been great gifts during the holiday season and that by fluke or design Apple could actually pull off a historic quarter for the Apple Watch and stun its many critics. Elmar Mock, one of the inventors of the Swatch, warned in March that Apple may cause an “ice age” for the industry, according to Bloomberg. The computer maker has already shaken up the music market with its iTunes software, while its iPhone supplanted Nokia Oyj’s dominance. The largest drop in watch sales was for watches that cost between $100 to $149.99. It does not include boutiques owned by watch brands, chains such as Wal-Mart or online retailers. In fact, the word “success” is relative to the smartwatch space, and not to Apple; some have pointed out that it’s not been a big seller for an Apple device, while criticism lobbied against Watch suggests that it’s also uncomfortable and too complex for casual users. NPD’s luxury tracker was formerly known as LGI Network.