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The global smart band market witnessed strong growth during 2014-2019 and expected to continue to exhibit strong growth during 2020-2025. A smart band is a multipurpose device. It helps to monitor various (category) Smart Bands daily activities including walking or jogging, calorie intake, heartbeat and quality of sleep. One of the primary factors catalysing the growth of the global smart band market is the rising awareness for health and fitness among people.
Xiaomi has led the smart band category, because of its product quality. The brand also gained popularity for its price, Xiaomi has numerous smart bands at different prices, catering to mass consumers looking for either affordable or premium devices.
Fitbit is the first runner up and Fastrack once again holds its second runner-up spot, followed by Samsung and Honor.
Spontaneously, most of our respondents (89 per cent) were able to recall Xiaomi as the Smart band brand. Leaving a huge gap for its competitors, Fitbit scored 60 per cent, Fastrack – 51 Samsung – 46, and Honor – 42 per cent.
And why we see the above result, because 48 per cent respondents are using Xiaomi smart band currently. Fitbit is the second highest with 20 per cent score, while Fastrack got 7 per cent, followed by Honor – 5 and Lenovo – 4 per cent.
Though, Lenovo didn’t appear in the top five list, this data (Currently Used Brand) shows us that many people are using Lenovo smart band, but unfortunately the brand was not able to make a huge impact.
And the same reflects, when we asked for future consideration. Xiaomi led the segment with 48 per cent score, Fitbit got 28 per cent, followed by Fastrack and Samsung – 25, and Honor – 22 per cent.
It’s good if you have a larger market share, but do you also provide the best experience? When we asked about satisfaction of our respondents with existing smart bands, Fitbit grabbed the winner spot with the highest score of 96. Fastrack also beats Xiaomi with a small difference: 94 and 93, followed by Samsung – 88 and Honor – 86.
Although, Xiaomi wasn’t able to score high in satisfaction, it has loyal customers. Xiaomi scored highest – 92, when it comes to reconsider the brand for their next purchase. Fitbit and Fastrack shared the score for first runner-up with – 89, followed by Honor – 84 and Samsung 81.
When we asked for recommendations, again Xiaomi got the highest while Lenovo came back to the top five list. Xiaomi got highest 47, followed by Fastrack – 34, Fitbit – 28, Honor – 25, and Lenovo – 23. Samsung slipped one step with a score of 20.
Xiaomi and Fastrack are considered for its brand name and quality. Fitbit attracted consumers for its brand name and after sale support/ service.